544 views
5 comments

It started when American Home Mortgage sold my loan to Ocwen. I can't believe these people are still in business.

I had filed a chapter 13 but I was not behind in my mortgage. I received a call recently from India offering me a modification. Even though I didn't ask for one, it was presented to me. After this phone operator from India went over the terms and conditions of the loan he ended it by stating that by the way there is a 157000 balloon payment regardless of when you sell your property.

So if I sold it tomorrow I would not only owe the mortgage debt but I would be in it for another 157000!!! Per Dodd Frank balloon payments on modifications aren't even legal!!! In addition I received a 1098 without any mortgage interest that I paid for 2013. They stated they have no record of my payments since September 2012.but I did keep a record through certified funds that these payments were made.

Fortunately my attorney has kept a record as these payments were first routed to her. These thieves are hiding the interest they are receiving from your loan. This would be like if you hid your income and did not report any of it to the IRS. I believe that if you were caught there would be fines, penalties and possibly imprisonment.

So they are taking your money but they are not reporting it to the IRS or giving you the credit so you can receive your mortgage interest tax deduction. What they are doing is criminal.

There are many infractions reported here with regards to Ocwen and I believe if enough of us send letters to our local councilmen and banking commission we may drive these thieves out of business. I am not finished with them and I will take this to the banking commission.

Do You Have Something To Say ?
Write a review

Comments

chat-icon

Please avoid publishing any personal information and promotional content

You will be automatically registered on our site. Username and password will be sent to you via email.
Post Comment
Guest

Thank you for your advice I will be going to Sacramento with this... One pissed off daughter

Guest
reply icon Replying to comment of Guest-836382

I too just receive my approval with s balloon added at the end of my maturity date of $161,000Donโ€™t know where to begin ...hep!!!

Guest

Ocwen continues to hurt Americans with the help of American attorneys..Today I receive an mod offer again with a balloon payment. since I refused to accept it, our attorney said ocwen will foreclose. :( will see !!

Guest

Yeah we could also make basic money management part of our children's curriculum (I don't mean the kind our government lives by where they borrow, borrow, borrow and then don't pay back. I mean the real world kind of money management that the rest of us plebs live by).

At least it'll be more useful than some of the stuff they're learning now. If people were more informed on this sort of thing to begin with the scammers would have to find a new scam.

Good luck involving councilmen and banking commissioners. It'll probably just end with ocwen having to add an extra 10 pages of legalese to whatever loan agreement they have people sign.....you know, the one that wasn't read or understood by the signee PRIOR to the required extra 10 pages.

It won't fix anything in the long run. People need to be taught basic math concepts before they even have a chance.

Guest
reply icon Replying to comment of Guest-788706

Just so you know that company has to send out any new policy or procedures of new changes to their screwed up company ... Wake up get off the *** sofa it is one of the biggest mtg companies stealing from middle class people here... They want people stuck and not able to move forward open up your eyes people stop crying and do something!!!

Ocwen Reviews

  1. 287 reviews
  2. 59 reviews
  3. 11 reviews
  4. 3 reviews
  5. 6 reviews
Ocwen reviews