just want to pay my mortgage
I am going to tell you a story AND TELL YOU HOW TO PROTECT YOURSELF from Ocwen. First my experience with Ocwen which taught me how to fight against them.
Our bank went under and our mortgage was sold to Ocwen. It had a balloon payment after 15 years. Everything was setup so Ocwen would automatically deduct our account to pay for the mortgage. That would make it impossible for us to *miss a payment* or to be late. After a few years we noticed that we owed the EXACT same amount as when the mortgage began. That appeared to look funny so we called our financial advisor. He thought it would be best to get away from Ocwen - but their was a clause that their would be a hefty prepayment penalty. Because of this he told us we should just ride it out until the balloon payment was due.
Some months later they went ahead and started an "Escrow". We never signed any papers nor had any idea this was taking place. We was paying the taxes ourselves. This is when things started going crazy. They would send letters saying they purchased us insurance since we did not have any. We had papers proving otherwise. We faxed, emailed (as well as the insurance company) over to them and they would say they did not get anything. That happened about 3 times. We never got any of that money back.
About 8 months before the balloon payment was due I started doing research on them. I read enough to know they are NOT going to play ball with anybody. Their sole duty is to collect money. Breaking the law doesn't appear to be an issue with them. We called to get a request for a payoff notice. They sent the payoff and what do you know... We owe about $25k MORE than when the mortgage started! We asked them to show their math as to how they came to that determination and got a response of "it would just be easier if you paid it". Wow!
I logged into their website and looked inside their numbers. I wanted to make sure it was in accordance with how the deed was written up. Scary! Scary! Scary! The game they played was simple - calculate interest per day that you owe. Take your payment and pay the interest. Any money left over put in the suspense account. Never apply that towards your principle. This would go on for awhile then their would be an adjustment where the money in the suspense account would *vanish into thin air*. Suspense account is usually just a storage tank to hold left over money until a full payment could be made. Since they deduct the money, the exact same as it was written on the deed - why was it not being fully applied to the loan?
I seen internal memos on the files around the time we requested a payoff quote when we was early in the loan. It said it was calculated under Rule of 78. That is why we did not pursue getting out of it. If you look you can not LEGALLY apply rule of 78 to a loan that is longer than 46 months. So what they did was illegal. Their internal documents shows with their own initials that is how it was computed.
With a call to Ocwen you get in the circle of doom. We finally ended up arbitrating our findings and we needed to "speak to somebody higher up the food chain". They gave us a "case worker" so to speak. She would take a bit of info and go on vacation for a month. You call back and she "left" the company and you are appointed another. Time was running out on the balloon payment so we needed ANSWERS. FACTUAL ANSWERS.
We got the money available (their payoff quote) into an account that we could send them. (Just in case). You could tell from reading all of your stories - they are playing the clock. They are going to dick us around until they can foreclose. We hired an attorney. The attorney thought he could have this wrapped up within an hour. (He cost $250 a hour). We gave the ok, and after an hour he was completely dumb founded.
He could not get past the call center. It wasn't until he pressed the fact that we would take them to court that they would even talk with us. He noticed that they did NOT service the deed as it was written. They absolutely did not. We told them they are calculating interest using 365 days a year instead of 360 as the deed says. Their response "That was just a technical error". They said our mortgage was based on "simple interest daily". The deed said otherwise. If you compared the numbers using a mortgage calculator they worked out to the penny (as not being serviced as interest daily).
This went on for a few weeks. The next thing you know somebody pulls into our driveway and looks in our mailbox. The next thing they do is start taking pictures of the property. Huge red flag that they are preparing a foreclosure.
Long story short - we spend nearly $15,000 on an attorney. Ocwen lost. We told them if they did not accept our offer as to what the deed shows we would sue them. They decided it wasn't worth their effort and released the deed. But for us the money we would of saved was simply spent on a lawyer. In the end we kept the property and got out of Ocwen but it was still an additional cost to do so.
- HOW TO PROTECT YOURSELF IF YOU ARE DEALING WITH OCWEN -
1.) GET AN ATTORNEY.2.) GET AN ATTORNEY!
Even if you have to get a loan you should. After reading so many other posts and having the very same thing happen to us made me a believer they are scams. They want you to believe they are working on it. All they are doing is running up fees and penalties. You send papers, they lost them. You make a phone call, they will call you back. Do not be nieve.
3.) Trust the numbers.
They say they are a collections agency. Their only real responsibilities is to make the board members money. That is it. You are a tool to get that job done. Does it not sound reasonable for a scam to do something like the following to maximize their profits:
1.) Get your mortgage 2.) Service it (but manipulate it for their benefit) 3.) Take as much money as possible until they think you can no longer pay. 4.) You request a modification (which tells them you can no longer pay). 5.) They lose papers, run the clock down while they tell you they are working hard for you. 6.) Foreclosure - take your property and resell it. In the end all you was doing was renting.
You can't waste any time. They will use the clock to their advantage. Emailing, etc. just simply doesn't work and their is no legal proof to make anybody accountable. They win because they scare the shit out of people. They flex their muscles and because they are a multi-billion dollar company and we are all poor sad people. They know you will have to take them to court or get an attorney. They have more money and can simply 'out last your surplus of cash' if you try to fight them. We had to take loans to fight them. But if we didn't they would have taken the property.
- Personal note -
It really pisses me off that this company is even in business. They serviced the contract in an illegal fashion. I had the numbers that proved so. Hell, front of the deed didn't even match the back of the deed! Our lawyer said we could fight to make the contract Nullified. But after 8 months of that stress we just wanted it to be over. Staying up late finding papers, reverse engineering their numbers, etc.. takes a toll on us. You think that if something is illegal then SLAM DUNK! TAKE THIS TO COURT! That is not how the system works though. They took our money for 15 years automatically - and we had late charges? They deducted it! They just start a Escrow... no papers or signatures?! No insurance, yet we did?! You owe $25k more than when you began but you never missed a payment or had a collection call?!
And they are still going at it today. They lost a 2 billion dollar class action lawsuite. Does the government think this will stop them? Numbers... You make 5 billion dollars. They sue you for 2 billion. That is a +3 billion dollar profit. Would you trade that, of course. That is why they continue to operate - regardless of how much they get sued.
I HAVE GIVE A PAYMENT AND A LETTER WITH THE INSTRUCTION ON HOW TO APPLY THE MONEY AND STILL NO CLEAR FOR THEM.
I am so glad I found this site. Ocwen took over my loan when GMAC went bankrupt. Everything was fine and I did not have any issues. I pay my mortgage on time, every month. I started getting constant and I mean CONSTANT mailings about streamlined refinance with Freedom Mortgage because Ocwen partnered with them. I ignored them for 2 years. I finally relented because I needed my monthly payment lowered. I went through the process and it was fairly streamlined, as advertised. HOWEVER... after the refinance I was told I would receive a letter with my NEW Ocwen account number and information and I needed to wait until then to modify my electronic bill pay I have through my bank (Chase). I got the letter in August, went online, changed the Ocwen payment address, changed the account number, and on Sept. 1st, made my payment. I received a call from Ocwen on Sept 15th asking about my missing payment. What? yeah, missing payment. I thought I was losing it. Went on Chase to my bill pay, told the lady it was paid on Sept 1st. She asked for proof of payment. I found it, printed it, and faxed it in. Days go by I get a letter stating that the proof of payment was received but they don't have the money so unless I can show them the front and back of a check that Ocwen cashed, I still owe them the money. WHAT????? I call Chase. Chase investigates. They said "this was paid by eft, not by check, so there's no check to show". They gave me an even better, more detailed proof of payment. I faxed that in. Days go by, another letter saying the same thing, they don't have it, I still owe. I get on the phone and, of course, someone in India answers and I lose my temper on him. I end up hanging up. Here we are in October... I made my Oct 1 payment on Sept 30 to keep Ocwen from reporting me to the credit bureaus. I just got off the phone with my bank manager who spoke to Ocwen today-- they are adamant that they do not have my money. Please tell me where the HELL my money is and who has it? Can they really do this to me? Can they really make me pay twice? I am so upset, distraught, and feel like I have no recourse whatsoever with this B.S. company.
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They plain and simple suck. They need to be forced out of business. All the government agencies that oversee them too. It's truly a crime that they are commiting against all people that get forced into their grimy hands. You get a mortgage with a bank who you think is "trustworthy" and you have no options when they turn your mortgage over to someone else that an unscrupulous, money hungry, middle class badgers. The Sec or someone should be held accountable for Ocwen. There has to be lawyers that are willing to sue them as class action just for their illegal and unethical practices for getting home loan modifications. Where are they???
I will be filing bankrupt on my home in pocatello due to divorce. Ex was to refi or sale home. I did send email letting them be aware that she will stop paying loan and let go in forclosure. As a lender I would do something if can. Also Can ANYONE Tell Me If She Could Of MODIFIED Lion Yrs Ago without my signature??? Do u need both on paper??? If so I never signed
Hello. Can I get your email? I have a few questions if that's OK. Thank you
I got a measly 1100.00 dollar in a class action, the lawyers and the state reps make the big money, this is just one big scam, they rob peoples whole bank account with their hackers and make it look like you did it, they are the top in what they do
These people are replaceable, they come a nickle a dozen, I guess they have stolen your home by now....
Since these people are tied in with the "Data" people they have all the information they need to ruin everyone they want to....
The NSA works closely with these Ocwen people and their investors, it's one big scam.
One does not need to recommend this company, they come in through the backdoor...
In 2012 when we noticed that Ocwen had increased out interest rate to 8% we called to find out what was going on & after being told our home value was like upside down pineapple cake they said they were sending us a proposition to buy our house from us and we would have 1 week to agree or forever hold our piece. It all happened to fast, it was a one page simple offer to buy our home for 3k if we left it broom clean for them. We had never missed a payment, and had not even the slightest worry they were offering anything that could negatively affect our credit.
Over 3 years later our family is displaced still and our home is now above the value of what our loan was. We were left like fools being scammed out of our home off of one phone call to ask why they had raised our interest rate. We never saw it coming this is a well operated white collar crime company. We're good hard working people with young children and never had a leg to stand on to fight back after we realized what had happened.
omg!!! i did what "Ga Peach" recommended below.... and it worked!!! finally someone in the USA that can understand me and i them... and i got my answer in less than 10 minutes.... i have been dealing with india and the phillipines for a week with no success... i really do not mind dealing with "global call centers" .... but they read from a script (so obvious) and they cannot adapt to indivdual customer inquiries that deviate from the manuscripts they are given.... if you want to be a "global company".... you need "global training" to support your customers and employees....
My credit card was hacked thru Homedepot scam..went to saudi arabia..& ever since I have gotten calls from ocwen..I dont even Hava mortgage Yet they continue to harass me..WTF..HOW DO I GET THEM TO LEAVE ME ALONE ???
I already posted so sorry to butt-in again. Was re-reading some comments and just wanted to make a few more of my own.First, To Everyone: Look up Sealy-Davis vs Ocwen. You'll find a lot of related sites but find one with the actual testimony given by Mr. Davis, a former Ocwen employee who testified against ocwen and for the plaintif. This will clear up any doubts about ocwen's agenda. In brief, Davis details how ocwen trains employees to lose and delay payments and ways in which they're trained to drive people into foreclosure; how they target home with equity for foreclosure and even what to say to the homeowners whose homes they're stealing like, "What bridge are you going to live under after we take your house?". I kid you not.To Tapdancer: If you want to make extra payments pleeeeese, refinance instead!!!! If you can get away from them do it ASAP!! They truly are monsters and they WILL try to push you into default and steal your home. Do not ask ocwen for the payoff quote. They'll send an inflated quote then report to the credit bureaus that you defaulted and filed for bankruptcy to keep you from refinancing -because they do not want you to pay off your home, they want your home. I speak from experience! I finally went to an attorney who called a title company (TC) and the TC got the quote from ocwen. This will also ensure that you get a clear or unclouded title and the true holder of the one will send original docs (possibly) but most importantly, will send a release of lien or the like. They'll walk you through it. Most mortgages have been "securitized" and pooled for investors to gamble with so most of us don't know who holds our note -neither does ocwen. It may not even have the legal right to be taking payments from you. Instead of knocking yourself out to find out who has your note (via SEC Edgar website) a TC can do it immediately. To Fuckyou: You have a lot more self control than I would've had in your situation. I just want to alert you and everyone else that in addition to stalking people and photographing their homes (in part, so they can charge you for BS "property inspection fees") there have been posts by other ocwen victims that they have actually picked the lock and gone into people's homes! It's frighteningly easy to "bump" a lock and most people have a good, but typical deadbolt or other lock from homedepot, lowes or such. They can bump these in a heartbeat and be in and out of your home without you ever knowing. Buy a "bump-proof" lock! You can find them in the same style as the lock you already have and easily replace it without drilling or any carpentry. You can find them at Home Depot, Lowes, etc. for just a little more than you'd pay for the "bump-able" version. I know if I caught them I caught them in my house they'd be dancin' to some seriously heavy metal.
Lastly, to those who are new to the nightmare that is ocwen, don't drive yourself nuts trying to rationalize anything they do or keep trying to call their 'go nowhere' phone numbers. Read people's posts here and every other ocwen related thread on the web. Ocwen (Bill-Bo fat boy Erby, owner and former CEO) designed ocwen's business model to do exactly what they're doing. It is designed to eff you up, trip you up, make you give up and drive you to the breaking point to make it easier for them to illegally take your home. Don't keep trying to figure out how your payment got "lost" or why it was posted late whe you mailed it before the 1st. Ocwen's agenda is to, make - you - fail! Let there be no question about that.These aren't "mistakes" or "oversights" or "computer errors" as they've claimed ad nauseam for 15 years and millions of illegal foreclosures later. These are meticulously planned, well honed, methodical steps they implement with 99.9% of the mortgages they buy to "service", for the purpose -and exclusively for the purpose of stealing your home.
Use only, online banking bill to pay your mortgage - not the mail and not the phone. I found out real quickly that ocwen unfailingly uses the latter two to "lose" or claim to have received your payment after the grace period, or simply say they didn't receive it at all, so they can justify "fee-ing" you to death with their obscene and illegal fee-scam. They hate online banking because it allows YOU to control your payments and puts them directly into their account, precisely when you want them to arrive and there isn't one thing they can do to make it "late" or pretend it got "lost" and posted late.
Make no mistake people, this 'company' and everyone who works for it (and generally every company it's affiliated with) is THE SCUM of the earth. I've never witnessed or experienced any entity in any capacity that is as deliberately calculating, malevolent, depraved, inhuman, insatiably greedy, cruel and evil as this abominable excuse for a corporation that calls itself "ocwen". Run away. If you can't, pay online, and do everything else by registered mail. Be very careful about the "advocates" you choose as well. In a pathetic attempt to improve its despicable reputation ocwen has been "contributing" to the various non-profit organizations (like Hope [?]) that were established to help drowning homeowners and protect them from ocwen and fellow predators. Now these organizations are on ocwen's side, or in its pocket if you will, and are no longer "non" profit organizations. Just when you think this reprehensible 'company' couldn't possibly stoop any lower than it already has, they will prove you wrong. They are toxic, they are dangerous, and they are out to take -everything- you own. Don't think for 1 minute that there is anything remotely moral, ethical, humane or legitimate about this cesspool of a company. Do not ever, give them "the benefit of the doubt" because they will destroy you. They are, the enemy. Millions of consumers posting identical nightmares -are not- making this up. Protect yourselves. God bless and good luck.
If you see ocwen's (lower case intentional) name associated with any of your financial or business affairs do what you have to do but - get - rid of them -any way you can! As a homeowner who's endured their RICO activities for over 2 years I promise you, you will be sorry that you didn't take whatever measures humanly possible to rid yourself of this repulsive, derelict, gutter-dwelling mutation of a "corporation". An entity like Ocwen is something so vile and malevolent that only Satan himself could possibly be at the core of this atrocity known and deeply reviled around the world as one of the more devastating diseases that mankind has ever known. It, has casually, methodically, deliberately and joyfully destroyed more lives via its criminal activities than the Black Plague. This is not a legit "corporation" by any stretch of the imagine, it is a full-on RICO entity that makes the Mafia look like choice boys. They're beyond "corrupt", they are evil, dangerous and will tell any lie and take any action regardless of how despicable, unconscionable, criminal or inhuman to rape you of everything you own. I couldn't be more thrilled watching them descend into the hall from which they were spawned. Just their name is enough to make me want to vomit and it's finally become synonymous with the disease that it is. There are any number of lawsuits going on at any given time against this abomination. They steal from their investors and their investors are cutting ties with them, their stock has tanked by 80% and they have become the toxic waste to avoid at all costs, by business, investors and consumers alike. God bless Ben Lawsky, Sec of the Treasury of the state of NY who is among a very few who has a pair and has single handedly dealt some of the most fatal blows to this God forsaken collection of scum bags than every "government regulatory" and "consumer protection" agencies put together have accomplished. And it worked. ocwen is now oc-lost. I wonder what gutter they'll crawl out of next or what new and exciting way their "CEO-founder" and mutation of the underworld will devise to lie, steal, deceive, rob and exploit consumers now. Many will be happy to hear that oc-lost is selling off it's mortgage 'servicing' "rights" (or rather its illegal foreclosure rights) which is good, but selling them to its fellow bottom feeders like JP Morgan (just as bad). I finally hired an attorney to pay off my mortgage and distance myself from the terminal disease known as ocwen. They made it impossible for me to pay off my mortgage because they want my house and equity and have been trying everything in their arsenal to steal it from me for over 2 years. It's insane that a homeowner in the US has to go to the unheard of length -and expense, of hiring an attorney to pay off a mortgage. But with this piece of walking excreta, it's the only option. The "CEO-owner" bill, (bilbo-fat boy) erby is so reviled in the U.S. -his own country, the coward doesn't have the cajones to live here. He's at least smart enough to know that living in -our- country where he's methodically destroyed millions of lives and stolen millions of homes would probably and justifiably, shorten his lifespan. The creep was even forced to resign as the CEO of his own company (haaaaa-haaaaa!!!!). I pray to the heavens above that this is just the beginning of the end for this cockroach-scum and his 'company'. I wish upon him and his equally evil partners and staff, the most evil, vile, horrific and destructive forces to ever torment a creature. But then all he has to do, is look into a mirror to see that Satan is his reflection and he'll is where he belongs.
Yeah just like everyone else. AS A WORKING AMERICAN. Most of us have gone through hardships. So long story short I fall behind with every intention to catch up. With being an independent contractor things can become tuff waiting for draws. So one day when I got home early I notice some random dude stopped his car in the middle of the road snapping pictures of my property while my kids are out in the yard. So I confront the vehicle politely asking if I could help them he says hello and waves then speeds off. So about 10 min later he comes back from the other way. I'm on the lookout now so I meet him in the road and ask can I help you. He proceeds to say I like your mailbox and starts snapping photos then yells to his driver GO and they gun it and leave. So now I'm a fucking pissed off parent thinking I got some pervert after my kids. So I jump in the truck and take off the opposite way they went hoping to cut them off. Low and behold here they come in front of me. So I parked my truck in the middle of the road to confront them. They decide it's a good idea to ignore my concerns and go around me through the ditch not to mention THEY HAVE KIDS IN THE CAR. So I proceed to follow snapping pics at every stop sign to get their license plate. Finally 5 miles of trying to out run me they stop and get out of there car. He says he's with my mortgage company. So I'm a good guy shake his hand and tell him I understand now what's going on. I understand I'm behind 2 payments and all but HOW FUCKING HARD WAS THAT TO ANNOUNCE AND INTRODUCE YOURSELF. He says OCWEN doesn't allow him to have contact with customer. WELL THATS HOW PEOPLE GET FUCKING HURT. How do I know your not a sexual predictor?? And like many others I did not pick this mortgage company my original mortgage company went bankrupt and DUMB ASS OCWEN bought them out. SO OCWEN you better tell your representatives to announce Who They Are when confronted by a home owner otherwise someone is bond to get FUCKED UP
Has anyone had them call and say they wanted to discuss your account? Even though you aren't late and never have been? Then tell you they need a photocopy of your social security card to verify your identity?
OCWEN is the worst mortgage company ever. I have been trying to resolve a problem for 3 months and can't get a straight answer.
How on earth did you get them to do that?? I demanded to talk to someone in the US each and every time I spoke to India and they either just put me on hold forever (and more often than not, disconnected me) or else told me flat outright that they couldn't. Back in 2008 I could talk to someone in FL but as of 2011...nope.
I agree we need more Americans so as we can understand the English, I have so many times called ocwen and can not understand a word they are from India or some other country, and every one you speak to has a different answer. I do not like the Mortgage Co. At all....Good Luck.
Worst company in the world.