Consumer complaint received 2018-09-13
Company: Ocwen Financial Corporation
State: CA
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Struggling to pay mortgage

Complaint:
XXXX XXXX # loan number XXXX XX/XX/XXXX To Ocwen Loan Servicer Re : A More reasonable loan modification where it wont create hardship on our family.

This is in regards to requesting a Loan Modification that is fair and  reasonable for me and my family to make payments that is conducive to what is fair based on everything that has happened in the past with what has been done. Ocwen continues to raise the mortgage and rates that I can not possibly pay monthly in an unreasonable modification. It has been an ongoing issue of telling them why and how we are at where we are, because of several different things that is wrong with the loan as it is. Including not removing the bankruptcy in a efficient quick manner so we may move forward from that we have been strugling with Ocwen to make a reasonable fair modification. Instead the payment continues to increase including the rate which is very unfair to what we were given originally. But instead there is more problems on the loan itself. We have tried to continue to let Ocwen Loan Servicer know that we can not afford the amount of payment to the Mortgage and every time we request for a lower amount, we still get the same amount and more as time goes on. This should have been dealt with back when there was a false bankruptcy placed on my home. I will submit the documents to the false bankruptcy and how it took. Ocwen finally removed the bankruptcy using their legal dept. They wouldnt do anything but told us to remove it ourselves when it wasn't our fault that they did not do due dilligence to let it go thru in the first place. So consequently it placed us in the rears and mortgage kept going up. When we attempted to communicate that the payments are too high. Ocwen still did a loan modification and it was more an excessive amount to where it would create hardship on us to pay that amount. 
We continued to try to let the Servicer know we couldn't afford XXXX that we were requesting to reduce it to around XXXX to not be so financially strapped. They instead raised the Loan rate to an harsh excessive rate of 7.5 percent when initially we had a 2 % on our modification from previous ... the only problem with the modification at 2 % was still a high payment of XXXX. This is not fair for the rate that Ocwen did with us when they redid the loan they changed it from 2 % t0 7.5. And made it more to where it still was a high mortgage payment. I will submit what we have continued to request. This has been an ongoing issue. And I don't understand why Ocwen can't reduce our mortgage payment so we are not financially strapped to pay monthly. We just want a fair reasonable amount. This Mortgage has had alot of discrepancies servicing errors and there are deceptive practices occuring. We should be a place where we are able to live without excessive amount to pay. 
We were in a loan modification with GMAC before Ocwen and Ocwen denies we ever had a loan modification with GMAC. When they received our loan from GMAC a representative name XXXX XXXX was working with us as she was assigned from GMAC. In addition when we transferred over to Ocwen a letter was sent to us stating XXXX XXXX was still my relationship manager when Ocwen took over. I had been talking to Ms XXXX and in the process of gathering information then was told that Ms XXXX was no longer in that program as of XX/XX/XXXX and a letter was sent that I would now have XXXX XXXX who was my new relationship manager working on the modification. I have the letter sent to me from # Loan XXXX/ XXXX XXXX Ocwen . When I called Ocwen to speak to XXXX in XX/XX/XXXX to find out whats going on, XXXX informed me that she couldn't speak to me about my modification because of a bankruptcy. I was shocked and didn't file a bankruptcy it was a false one filed from XXXX XXXX. The odd thing about this is that Ocwen had filed a foreclosure in XX/XX/XXXX when that should not have happened when I was already working on a modification. This was not right because i have letters from XXXX and Ocwen telling me I was assigned a relationship manager but they still filed a foreclosure when I was working on a modification. Then this false bankruptcy happens from a person ; by the name of XXXX XXXX out of XXXX. review the deed and the clerks name wasnt right too. Ocwen should have recognized and did a due diligence on the deed and bankruptcy as it had a robosigner as well for the notary. The whole documents were wrong names and wrong county clerk and false. So from that we were placed on hold for a period of almost a year. We should have been able to do a modification that would have been conducive at that time. But because of this false bankruptcy we couldn't do anything with Ocwen until they removed it. Ocwen didn't remove the false bankruptcy until XXXX XXXX XXXX and we provided all the documents to prove it was false giving them the documents to the legal so they would remove it as soon as possible for us to move forward. But still Ocwen prolonged this until XXXX XXXX XXXX, which was then finally removed by Ocwen. 
We were finally able to work on a modification. We were still letting them know that we need a more reasonable payment to our mortgage we couldn't help that GMAC filed a bankruptcy as well and made us wait when they filed in XXXX XXXX XXXX with a Bankruptcy everything was on hold from that when we were working on a modification then. So what I am trying to share here is that XXXX and XXXX were virtually on hold for us to move forward on a modification. Even if Ocwen would have worked with us to do a modification in XXXX we wouldn't be at where we are at this time. We would have been able to afford a payment XXXX less then what it is now. Then things prolonged and when they gave us a modification it still was too high. We kept on trying to state all of the facts and the errors that happened. We had been subjected to predatory lending and deceptive practices to the original note.We would not be at this state if we were granted a loan modification when Ocwen took over. We were finally working with a relationship manager XXXX XXXX we told her that it wasn't our fault that we couldn't work on a modification because of the bankruptcy. 
Fast forward til today. We want a Modification that is fair and what should have been dealt with when we had a false bankruptcy from this XXXX XXXX. We are just asking for fairness here. There have been times when we submit our financials and more information is needed. This prolonged process shouldnt be like this. Fast forward to XX/XX/XXXX we were given a trial plan of making payments of XXXX for the month of XXXX and XXXX. However the problem was they raised the rate from 25 to 7.5 percent ... excessive rate. it was an unfair rate and it didn't matter to Ocwen as it affected us with the payment and the interest on the principle. We told the relationship manager we would do what we can towards working on a less more affordable payment that is fair and conducive based on circumstances we were placed in. The Modification was not a fair one for what rate was placed on us. I will submit the Modification from XX/XX/XXXX. We did that and there after Ocwen did not do anything to work on a lower amount or rate as we had been requesting for a long time now. We did with protest to the amount and asked for the relationship manager to inform them that we need a less amount but to show we would work Loan # XXXX XXXX XXXX with this trial period and then Ocwen work to lower this more. It didn't happen. The modification from prior had a 2 % with the excessive mortgage amount of XXXX was the modified amount from the month of XX/XX/XXXX. And when Ocwen redid the modification two months later they raised the rate to 7.5 percent which wasnt right. but we still had the payment a XXXX dollars less but still high at XXXX. They still were felt like there wasn't much effort to work with us to lower the amount due to all of the circumstances of not being able to do a modification back when it should have been done XX/XX/XXXX when they received the transfer. In the QWR it states that Ocwen received the transfer in XXXX ... but didnt do anything with us til they filed a foreclosure not even attempting to work with us at that time ... But instead it was a false bankruptcy that also kept us from moving foward on the modification. At present, we received submitted our financials to Ocwen again as we had in the past. I sent a letter requesting again to lower the amount do to what had occured. the completed packet was received on XXXX XX/XX/XXXX and another on XX/XX/XXXX all was complete they would review and a denial letter was received on XX/XX/XXXX 4days later stating they couldn't give us a loan modification due our payment now would be 25 percent more than what it was originally from which the payment amount of XXXX. There didnt seem to be a complete analysis and evaluation of our loan modification by the quick turn around on a denial letter. I I will submit the false bankruptcy and the police reports from XXXX where we should have been able to do a modification and not be where we are at today. We would then be able to afford to live and pay our monthly payments. 
Our resolve in this would be to work out a loan modification that should have been lowered payment with the 2 % moving forward. The fair market value of the rates should have been taken into consideration.deferring the present reinstatment amount to the rears with already deferred principle would help us and bringing down the interest rate that is lower and fair. There wasnt a consideration to truly review and analyze what can be done. We would be able to afford a mortgage payment on the principle amount of {$500000.00} amount with a lower payment and percentage rate lowered considerably ... which would be fair, especially when the XXXX was deferred and the present reinstatement amount added to the deferred amount would help with getting a reasonable loan modification that would not place us in hardship. 
My daughter in law XXXX XXXX is a XXXX XXXX XXXX veteran and this is already dealing with XXXX more XXXX. She is presently submitted for a XXXX XXXX and this would be devastating to her if we were to not have our home. We are asking Ocwen to please do the right affordable thing for us. We didn't do all that was done to our home loan. There is alot of discrepancies and errors and Ocwens motto is helping homeowners is what they do. Then why are we still being gauged by such a high interest rate of 7.5 percent when a few months earlier on a modification it was at 2 % the modification was redone and then Ocwen increased the rate to 7.5 in a matter of a few months. That was not fair. I will provide documentation in the modification that was at 2 % .. We could have had a modification back when our loan transferred to Ocwen . I will include all information as to the continued letters we sent and still have a high mortgage payment. 
We need a more affordable fair one that will keep us in our home. XXXX to XXXX we can be able to afford if Ocwen can do the right thing. The rate is too excessive and is not fair. I have lived here since XXXX and my husband past away and we lost the business when the market crashed. I just want to be able to live without having to struggle. I feel Ocwen can adjust the mortgage to make it right and fair for me and my family to live without worries. This has to be addressed on lowering the payment and as they had it before at 2 % how can such a Servicer bump up the excessive 7.5 % its not right or fair. I need a more affordable modification that will be conducive and fair. Again i have sent letters stating this and there is no resolve in this.

Company response to consumer: Closed with explanation