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Ocwen Loan Servicing / mortgage ripoff

1 United States Review updated:
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This is one of the top rip off mortgage companies in the USA right now. They keep agreeing to certain thing and never go thru with the agreements and lie about everything. This mortgage company needs to be fully investigated for fraud. I can’t get them to return my calls at all now, they are trying to make it so I default on my loan, by saying I have never called them, and there never was any other agreement made. This is the worse mortgage company in the history of the USA.

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  • El
      8th of Oct, 2008
    0 Votes

    I was forced to take two sub-prime loans to save my family's home of 20 years following a 3 year permanently disabling work injury, wrongfully denied by Workers' Comp. Apeals Board and denied by Zurich American Ins. (found as a misdiagnosis by LAC+USC Med Center two years later.
    My family (with all teens working) saved us from five foreclosures in three years.
    Ocwen adreed to renegociate our loan for an agreed fee. Thiss process took approx. two months, yet Ocwen notified us (April, 2008) that our loan was being sold to GreenTree Servicing.
    We've been in negociations with GreenTree for some three months, who has now proposed a 5 thousand deposit for the loan restructure, and payments for two years at $2, 200 monthly (instead of our former $3, 300.) for two years, yet this strikes me as another predatory loan, as it readjusts within two years back to the $3, 300. per month.
    Simply sounds like a new predatory loan to me.
    Am on fixed "premanent disability" with a working wife who nets $900. per month. Nothing is signed yet.
    What do we do?
    Scott MaclLachlan

  • Ke
      2nd of Nov, 2008
    0 Votes

    I myself have delt with Ocwen and am fully disgusted. I have gone through the "proof of insurance" bull. I have had to deal with the non-payment of house taxes. I have even gone through a few "for-bearance" agreements when I have gone through financial difficulties. The worst thing I feel they have done was when i became late by a month, and after calling them to make a payment and bring my account up to date including late fees they refused to accept my payment, and told me sorry, it's too late your in foreclosure now and will have to accept all the lawyer fees that come with foreclosure, even though they never notified me of this . I think they use unfair tactics and ignoring customer calls and drag out the communication process to thier benefit. Leaving the homeowner with little time to act, putting us in a desperate situation trying to save our homes from foreclosure at the same time they are just tacking on bullcrap fees for their profit

  • Tr
      15th of Mar, 2009
    0 Votes

    Govenors and Congress have all allowed companies like these to operate and flourish within your individual home states. Your Govenor and congress are aware that Ocwen and similar companies are a preditory lender! Ocwen disguises a principal and interest loan by stating that the total amount financed as being quote: The principal. Many people signed these agreements without knowing they were interest bearing loans only. Example : My son in Michigan signed a 15 year P&I loan for $97, 000.00 in December 2001 - for 15 years --Interest rate 11.34% --with an $85, 000.00 Baloon payment at end of 15 years. My son agreed to pay $930.25 for 15 years believing he was paying on a principal and interest loan! Bottom line is this...He never understood the contract. He will have to re-apply for a new mortgage in 2016 for $85, 000.00 or pay $85, 000.00 cash money in December of 2016. These types of mortgages should be outlawed! For a few dollars more per month and a decent interest rate he could have had a legit 15 year mortgage and be done in 2016. No wonder this country is going down the tubes. Sad but true.

  • So
      15th of May, 2009
    0 Votes

    this damed ocwens is crazy i had just been in a ch.13 paid back bankrytcy which started back in9-04 and just ended 04 14 09 my trusstee paid all my bills on time nervered missed a payment so when the final accounting it showed they were caughth up ocwen also told me i didnt have pay for two months my trusste also told me i could start to pay because i completed my payback iasked ocwen are all my payments good they said yes as soon as i got my discharge they told had i missed four payments i was shocked so this started off faxes and faxes to these cant understand talking departments to make a long story short they forgot before all this started that they gave me a payment history with all the on time payments on it what they did was post them to different year" oh boy what a company what a crazy company cant to wait re-fin.

  • Wh
      14th of May, 2010
    0 Votes

    Try this guy. We recently had our mortgage "refinanced" and he wasn't all that helpful, but get to him and if annoying enough - he will go to the top. Some lady is his boss but I can't remember her name.

    Joshua Coykendall
    Specialized Home Retention Consultant
    407-737-5285 phone
    866-779-8080 toll free
    561-682-8160 fax


  • Ja
      9th of Sep, 2015
    0 Votes

    I couldn't have my mortgage insurance removed with Ocwen, even though I qualified for the time to simply have it removed. I have paid the mortgage on time for 5 years and the value of my property has appreciated greatly. I wound up having to re-fi with another lender which I didn't want to do since it should have just been a matter of removing it. I inpound the taxes and insurance. After the closing and after the final payout with them, there was a 2000+ balance left in the inpound escrow account. They started tacking on all of theses trumped up fees to avoid paying the whole amount back to me. They also screwed up the tax statements for 2014 by first sending me printed forms with the wrong amounts. Then sending another form with a correction after the mandatory due date and after I had already filed my taxes. I had to file a correction. When I re-fi'ed this time, I asked if a clause could be added that strictly forbids the sale of the amount from being sold to Ocwen. I would dread having to go thru any of this with them again.

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