Ocwen now owns my home

823 of 842 Ocwen Reviews
Apr 28, 2008
review #119224

My home was for sale for 9 months.We entered into a "short sale" agreement with Ocwen.

Our realtor had offers. We jumped through hoops for Ocwen. We finally had to get a lawyer but they wouldn't even talk to him. All we ever talked to was foreigners from India.

Today our home was sold at auction and guess who bought it for $100?? They did. I pushed and pushed and finally some guy told me they "wanted" my house and it is better for them to keep it and will make money on it when the market picks up. They had no intention of selling it or looking at my offers.

I am so mad at organized banks . . . Our realtor, lawyer and ourselves went through all the motions, met all their requirements and in the end they "just wanted my house".

Where does that leave me? With a foreclosure on my record all because they wanted my house and wouldn't consider selling it. We lost $40,000 and have ruined credit all because we trusted them to care about the customer and do what is best for the customer. Hogwash.

They have made billions each year off taking peoples homes - yet they are a major supporter of a group that looks out for minorities getting homes! The average hard working American able to afford American dream is now the minority. What about us? Forget those piddly "stimulus" checks - Be careful who you trust .

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ab16222
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823 of 842 Ocwen Reviews
Ocwen Lied..

May 17, 2011

To Whom It May Concern,

Ocwen Loan Servicing is currently being investigated by the FTC, Anyone wanting to file a compliant with the FTC about Ocwen should send a letter to:

Joel Winston associate director
Federal Trade Commission
600 Pennsylvania Avenue, NW
Washington, DC 20580
(202) 326-2222
www.ftc.gov

Joel Winston, associate director of the FTC, confirmed the probe and said agency officials are "looking at more than one potential target" as part of their mortgage-servicing investigation. He declined to identify any other companies being scrutinized by the FTC.

The FTC has taken several actions in recent years against questionable practices by home-loan servicers, which collect mortgage payments and handle foreclosures on behalf of mortgage-loan investors.


Ocwen is the 15th-largest mortgage servicer, according to Inside Mortgage Finance, a mortgage-industry newsletter. The company services $72 billion in loans and had net income of $38 million in 2010 on revenue of $360.4 million.

Now is your chance to make a difference.. Spread the Word, send this to at least 5 people, and you will see a difference!

I am Not an attorney and I don't Not give legal advice...

0 0 Reply
knowurstuff.

Dec 31, 2010

I had an Ocwen experience almost two years ago that I found interesting. I had a house in forclosurer and it was 3 months from its scheduled auction date, with months of repeated, nasty denials from Ocwen for a modification. I decided to start calling THEM and demand to know where the actual note was. I told them that it was my right as a borrower to be sure the note actually existed and that I was going to take them to court for fraud and harassment if they could not show me, in person, at their expense, the actual ink-signed documents. I told them that if and when they did find this note, we would then start to address the RESPA violations that this note contained, starting with the almost 12% intrest rate and the mysterious balloon payment that was written into the loan, but not amortized on paper (a no no!) It was within two weeks that I recieved an Ocwen in house modification offer, which cut my payments by nearly half and dropped my intrest rate to 6.2%, fixed for 30 years. The outstanding legal fees were put into a second at 0% intrest, with no required payment until I decide to sell the house. Ocwen was not requiring a notary for this modification offer (Im serious!)just our signatures. To date, this modification agreement has never been filed at the local county clerks office, which is odd as all modifications or changes in notes are required to be legally filed by the lender. But lets think about that...in order to file the changes by the lender, the lender first... Show more

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Debbie

May 16, 2008 Vladikavkaz, North Ossetia

I wanted to add that why isn't OUR so-called government doing something about crooked banks and mortgage companies like Ocwen? Is the government giving them the right to steal? A person's home is probably their most important and cherished posession and companies like Ocwen are stealing our homes from us. Hello Mr. Government! Are you there?? What are we paying taxes for?!?!

0 0 Reply
Debbie

May 16, 2008 Vladikavkaz, North Ossetia

We went through a similar situation as you did. As far as we knew we were on time and had no problems then bam one day our name was in the newspaper with a foreclosure/auction notice. We had no warning no nothing. We were mortified. Ofcourse we found the notice on a Saturday and simmered untile that Monday morning when I called and was told by an Ocwen employee no worries it was an error and that there would be a retraction printed and all would be well. Well it didn't go down that way. We kept looking for the retraction in the paper, wow no retraction. We contacted the court and the auctioneer and no record of a sale cancellation. The day of the auction we are finally told there was no retraction and that infact we were 7 months behind. I said NO I HAVE CANCELLED CHECKS!! Come to find out they dug up some old judgement from 2000 and when it was placed on our house, they backed the amount of the lien out of our payments. Again we were mortified. I begged and pleaded to stop the sale so we could straighten this mess out. They said no and the sale went on. This took place on March 17, 2008. I immediately contacted our attorney and he got on it. The worst experience anyone can ever have is hearing your property auctioned off on the courtsteps of the local court. We went to the sale and no one bid so the bank bought it back. Now Ocwen claims to never have heard of the employee who told me no worries and that employee even sent me a retraction through my email... Show more

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