Consumer complaint received 2016-07-12
Company: Ocwen Financial Corporation
State: PA
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Settlement process and costs

Complaint:
I am sending this complaint update in because I was originally told that Ocwen was going to work with us to save our home after we complained to your organization, the PA Attorney General 's Office and Congressman XXXX XXXX. My original complaint included that we were asked to waive our rights in a federally sanctioned program- something that was not allowed in the Ocwen National Mortgage Settlement. Apparently the CFPB did inform Ocwen/XXXX legal counsel and the waiving of our rights was illegal and they were removed from the agreement so thank you for enforcing those XXXX guidelines. The problem is that for over a year I tried to get Ocwen/XXXX to drop the foreclosure suit against us so that we could work directly with the Making Home Affordable Escalations Team and get our questions clarified so that we understood exactly what we were signing. The HAMP language had been altered and left questions about the numbers. We signed the HAMP agreement and had it notarized. We also requested valid clarifications and an amortization schedule of our loan. We continued paying our HAMP payments- I scheduled my total hip reconstruction that I had put off for four years because I did not want to go under anesthesia until I knew that we had a legal loan modification. The day of my XXXX- my husband share with me the letter that we had been denied the HAMP modification- even while we were current with our HAMP payments. Two weeks later our XXXX year old daughter died in a tragic accident. Ocwen could care less about XXXX that AHM, AHMSI, XXXX and Homeward Residential has put us through the last 7 years. We are the poster children of the Ocwen National Mortgage Settlement and the abuse is continuing. The Monitoring of the National Mortgage Settlement knows that these problems are continuing and someone needs to stand up and make it stop. None of our questions were clarified and based on Ocwen/XXXX lack of cooperation- our valid concerns that Ocwen has no intention of helping us and that they want to take our home away no matter what we do.We have been forced now to use our HAMP mortgage payments to pay new legal fees. We desperately want our to save our home and my physical and mental health has continued to deteriorate from the abuse. Ocwen/XXXX both know that we lost everything in a bankruptcy XX/XX/XXXX and then lost our XXXX year old daughter. Just a few weeks ago during the time that our daughter should have been graduating high school and turning XXXX years old- Ocwen/XXXX deposed my husband and myself. My deposition was for an entire day. During that deposition it was obvious that XXXX XXXX had no intention of addressing the modification. I was questioned almost all day only about the original mortgage XX/XX/XXXX- something we never denied signing. We still believe that we are investors in our own loan and we want to settle it with a modification that follows the Ocwen National Mortgage Settlement and the new CFPB guidelines. We should have never been asked to waive our federal rights or been forced to hire legal council. During the deposition I was made to feel stupid, incompetent and worthless because we signed a contract that we were told we qualified for not knowing our tax returns were not reviewed by the underwriters. The federal government now says that these types of predatory and deceptive loans are illegal. We have been recently by told by Ocwen 's counsel that we can pay the loan off now with a new and/or private loan- but the bankruptcy that we were forced into- has ruined our credit and we can not get a new loan. The only thing the bankruptcy did not harm was my husbands 401k- Now we have been forced into using the only savings the bankruptcy could not take from us to save our home from foreclosure

Company response to consumer: Closed with explanation