Three years ago we refinanced our mortgage, which was promptly sold to Ocwen Loan Servicing. From day one this company has been a nightmare to deal with. The loan wasn't very old when I became unemployed, which made making the payments on time tough. I fell behind one month, but was able to start making payments every month, however it kept me always 30 days late.
I finally got the payment caught up, but still receive demanding phone calls from India several times a month wanting payment for the late charge occurred during that year time it took to get my payment caught up. These people start calling on the 5th of the month, before the payment is even considered late, demanding the current payment and the late charges. Sometimes they call as many as 10 times a day, all month long. Even when I give them a date the payment will be made they still call and demand payment for the late fees still due. When they call I ask to speak to some one in America that speaks English that I can understand, this apparently upsets them because the tone of the call becomes immediately rude and demanding that I make a payment then and now on the phone.
As with millions of Americans my mortgage is a outlandish ARM mortgage at a current high rate of 10.34 %, my home is currently appraised for less than the mortgage I have. I have asked repeatably of Ocwen to help, by setting the interest at a reasonable fixed rate, to no avail. They want to do a modification, tacking the occurred late charges on the back, but have no intention of lowering the principal or setting the interest to a fixed rate. Even though the payments are current except the late fees, they still refuse to even lower my ARM percent rate. The country has the lowest interest rates in years, but they still will not adjust my rate lower, it just keeps going higher. Last year I paid almost $20,000.00 in payments, and only $349 went to the principal balance, resuting in over $19,000. Being paid to Ocwen in mortgage interest. I will never ever be able to pay this off in my lifetime.
I can not get anybody from Ocwen to return my calls, they insist that I talk to these people in India, I am tired of these rude collection calls for the late fees due, multiple times a day from very early in the morning to up to 9 pm at night, I want to refinance this mortgage with an American Company that the whole process is in America and not outsourced. I need help getting this under control at a fixed rate with a reputable company
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