I was involved and thankfully protected from Ocwen during a Chpt 13 bankruptcy. Once the bankruptcy was over, things with Ocwen went downhill.
I tried making payments, and was told they can't accept my payments because it's still and active br. Finally, after continually telling my lawyer, I was able to make payments. 10 months later, I started getting documentation that I'm behind in payment and foreclosure proceedings were starting. Again, lawyer got involved and stopped the foreclosure.
A 100% review of my account was done and so many issues were identified where the court sided with me, and I was actually awarded a payment from Ocwen because of irregularities that had gone on for years. I get a check from them, invest in home improvements, etc. I start making payments and following everything the courts say need to be done. Fast forward, I noticed that my escrow was severely under funded and I'm getting letters from Ocwen about my payments going up significantly.
Again, the escrow balance grew to a negative $17k. How can this be the way the escrow works? Contact my lawyers again, they get involved. Now, once this happens, Ocwen takes my last two payments, reverses them, and puts them in suspense.
I start getting phone calls that I am now delinquent. I have to explain to them that I've made the payment,s they reversed them, etc. They can't see it? They can't see what made the escrow go to a negative 17k?
Honestly, it's not rocket science. I go to make my next payment, they will not take it because I'm not considered 90 days delinquent. After arguing, fighting and explaining to Ocwen what they did and how the account for things, it seemed to click. Why did I have to explain to them why I am late (although I made my payments on-time) and why my escrow was at a negative balance?
It's pathetic. I was lucky to have a good lawyer who basically went to the courts to protect me. I still want to sue Ocwen for all the heartache, stress, and aggravation that they put people through because they have a poor system that cannot handle the volume and the ever changing environment. It's a tragedy that no one can force this company to make amends to everyone they have destroyed.
Although my payments are being accepted and my negative escrow balance has been corrected, I live in fear that something else is going to happen. I know my payment should be reduced because of the fix in escrow, but I'm afraid to open my mouth.
Product or Service Mentioned: Ocwen Home Loan.
Reason of review: Bad quality.
I didn't like: People losing there homes, Dishonest business practices and fraud.