Ocwen Loan Servicing, LLCdo not sign addendum a!


I attempted to purchase a home under foreclosure. The seller was ocwen. They breached the contract so I contacted an attorney to see what claim (S) I had against ocwen. He said the contract is unenforceable due to addendum a section (I). By agreeing to this addendum I have no rights. I'm sol. Have an attorney review this document regardless of what anyone says. Money well spent. I wish I did before signing. I will have an attorney review all documents for my next offer to purchase.


  • Ed
    Ed V Mar 17, 2009

    Your attorney can say all and do all he wants, the bottom line is that OCWEN will not get under contract with a buyer if the addendum is not sign. Good luck buying a house without signing the addendum, your choices will be few and far appart.

    0 Votes
  • Re
    Realtor LT Mar 29, 2010

    ALL banks are major corporations that have created documentation to benefit them. If you don't sign the bank addendum, you don't purchase a foreclosure. I work with 19 different banks and they all have their addendums. I've only had one breach on the seller's part and it was due to a bank being absorbed by a specific date and the buyer hadn't closed by that date. Because the company name was changing, they had to retract the offer. If the buyer had closed ontime, they would have been closed and not facing this issue. If your issues was the seller's issue, your money would be refunded to you (except for inspections). If it was the buyer's fault, the seller may keep the buyer's earnest money deposit. The same is true with a traditional seller (with the exception of the addendum created by the high-powered attorneys).

    0 Votes
  • Nm
    NMark Sep 11, 2010

    How can you get a clean title for a home bought by OCWEN? Looking at M in Addendum A, it says they will "transfer the title by means of a special or limited warranty deed". How can you get full title insurance if you can't get an actula clean title?

    0 Votes
  • Bi
    Bill161# Dec 08, 2015

    We called asking for a payoff quote. We had never missed a payment with them and saved money to pay them off. We sent the amount they gave us through our bank acount, but they then sent us a bill for $6.82. We paid that through the bank. I received a call afterwards demanding payment even though I had paid the balance due. We called back to see why we were charged $6.82 and they said, we didn't send the correct amount; even though I was looking at the amount she gave me when I scheduled payment through the bank. They said they would not accept a payment through our bank with bill pay; said it would have to be wired. (Bank said the only difference was that wiring would be a little quicker.) We were told we could not get a payoff quote over the phone; even though I had already gotten one quote. They said they could email the payoff amount and instructions for paying it off. We waited several days; didn't come. Called back and they said it was because of the Thanksgiving holidays. They would mail the quote; waited another week; still didn't get it. Called; talked with Teresa (706710) She assured me the payoff amount was $77.03. She said to wire it the next morning and she could assure me that I would received a paid in full confirmation. My husband got up out of bed, even though he was .and went to the bank and wired that amount the next morning. After returning from the bank and stopping for the mail we opened the payment payoff information and it had a different amount. We received it on the 8th of Dec. and were told it was only good until Dec. 7. Duh! I callled the company immediately; robo call said my balance was $80.88. Talked to another person; put on hold; she said the payoff was $80.93. She couldn't tell me why it had changed from $77.03 at 4:00 yesterday to 80.93. today. She couldn't explain why the payoff letter was received after the deadline date for paying. The last lady I did talk to did some research and found that my payoff amount had been recorded wrong because it was sent in EARLY which resulted in me owing the additional amount. Whose fault was that? I paid $35.00 for the wire and was told I would have to send another one because of the different in the amount from 4:00 pm until the next day when the bank opened. We finally went to Wal Mart and sent a money order for more than the amount quoted to be sure we weren't charged more for another day. We're sending a form tomorrow to request that our account be closed with no further. Poor customer service every time we called this company; people from India or somewhere that I couldn't understand. I finally asked for an American on the last few calls. We didn't ask to deal with this company in the first place; ou raccount was placed with them from di tech because of difficulties they were having I assume; and believe me we never will in the future. I advise others. Stay away from this company. We've been lied to put on hold for over 30 mins, never getting returning call back. I've been harrassed over something we really didn't owe due to their mistakes; dealt with incompetent people and about went crazy. I feel something should be done about this company after reading all the complaints online. Also these jobs should come back to America!

    0 Votes

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