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Ocwen Loan Services Complaints - Unauthorized charges

USA USA-52303
Feb 23,2009
Ocwen Federal Bank was assigned my mortgage after a forbearance program agreement with HUD in 1997. They send us a letter stating that we were going to be on the program for one year to continued paying $668.31 a month at fix rate of 6%. In 2000 they went up to $866.00.

Since my property is a town house condo I was also paying $146.00 in condo fees and sending Ocwen $308.31 for the escrow account also, the entire mortgage payment was $ 1166.44 which it was more than what I was paying before the forbearance program. In 2001 I was behind on my condo payments because I lost my job and my wife was the only one working and paying all the bills. The condo association send me a letter advising me that they were going to take me to court because I was behind $900.00 in condo fees, they also a letter to Ocwen and after the condo association foreclosure on me Ocwen used my escrow account to pay the association and charge me the $2, 800.00 which I put back into my escrow accounts and without knowing I continued paying my mortgage. In February 2008 I run into another problem and I left my job to care for my 26 year son who was dieing, I fell behind 2 payment and I requested a loan modification from Ocwen and they agreed to let me pay them $1540.00 to start and $1, 157.44 for one year, I signed the paper and send them the first 4 payments. On November 2008 I received a letter from LASALLE Bank asking me to move out that my lease canceled, They also send me a letter to appear in housing court. I did not know that my property was foreclosure by Ocwen in 2001, now that I have a lawyer they agreed to sale me the property back for $140, 000.00 which is about $35, 000.00 more that what I pay for the property which was $109, 000.00 what happened with the 14 years of payments that I made. Ocwen Loan Services LLC are crazy if they think I am going to buy the property for than what I pay for in the first place. Someone need to have this people investigated because they are taking property away from people without law involvement.

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First and foremost, it is important to determine if you are eligible for a loan modification. This requires writing a letter of hardship explaining to the lender what exactly the reason is for your late payments and the fact that you are unable to pay your mortgage. Doing a loan modification on your own requires more than just advice. Becoming educated about the process is more important. This is perhaps a good reason to hire a professional loan modification company to take part in the process. They will handle everything for you, while educating you in the progression. There is a fee charged for hiring these companies, but in turn your mortgage payment can be lowered quite a bit and professionals can even find things in your original loan papers that may prove that the lender may have broken the law during your original mortgage signing.

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