|Previously had my mortgage with Saxon and was never late on a payment or charged additional fees. Mortgage was transitioned to Ocwen around May 2010. Ever since then I have been "late" on my payments even when I paid extra to "catch up". Every month, regardless of what I paid they showed me as being further and further behind on my mortgage. |
About three weeks ago I had enough and called requesting a breakdown of my payment history and why they were showing I still owed them around $900. They had charged me fees twice in six months for taking photos of my property, for sending me certified letters for "late" payments and late fees. I asked them what legal right did they have to attach these fees to my mortgage and they said it was in my contract. I requested a copy of my contracted and have yet to receive it. Then I started talking to them about the recent "large" payments I had made on my account. I was told the $300 payment I had made after the $1250 payment had been returned to me and credited to my account. I told them I was looking at my banking account as we were speaking and it had not been refunded and since I had paid it through my bill pay online it showed they had received it and demanded to know what they had done with the month. After being transferred I was told the money was being held in suspense to go towards the outstanding fees. I told them the money had best go towards my mortgage. They requested another $250 in order for this to happen because any partial payments were applied to fees and the only way a payment would be applied to my mortgage was if I made the full payment. I am current on my mortgage but still have outstanding fees around $900 they are wanting me to pay.
I had just re-established my credit history after a nasty divorce and had my credit score up to over 650 and was getting ready to refinance for a lower interest rate (paying 8% now) when this all went south under Ocwen. Now due to their reporting of late payments I can't refinance with anyone and being the sole provider for myhome don't have the money to pay legal fees to fight them.
They have contacted me about a loan modification and requested a small fee for this to take place. I asked them what the terms were and they quoted me a 4% interest rate, payments of $250 per month for 25 years then I would have a balloon payment. I asked how much the balloon payment would be and he said he didn't know. So I told him I wasn't agreeing to anything until I knew all the facts and demanded to know what the balloon payment amount would be. He quoted me $35,000!!! I only owe $68,000 on my mortgage. So after 25 years I would only have 1/2 of my mortgage paid off under a loan modication contract????
Also, the original amount of my mortgage loan was $68,000, funny that I still owe that after 4 years huh? In fact my loan balance has steadily gone up since Ocwen took over my mortgage.
I asked them to take the bad reports off of my credit report because what they were doing was unethical and illegal and they told me I would have to file a complaint. I asked for the phone number and was told I would have to do it in writing and fax it to 866-774-6188. I asked why I couldn't talk to someone in person and they said they only receive complaints in writing via fax.
If you make a payment online it cost you $10. If you make a payment via phone it cost you $19.99. Most of the time you cannot make a payment online because the website is either down or it will show "page cannot be displayed". I have sent complaints via the website and never received any kind of response in return.
This has been a homeowners worst nightmare. With all of the bad reports online about this company, lawsuits, complaints, etc. I do not understand how they are still in business and how they can be allowed to ruin someones credit history and cause undue stress and anxiety and get by with it! This needs to be stopped NOW!!