Consumer complaint received 2015-03-30
Company: Ocwen Financial Corporation
State: GA
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure

Complaint:
My mortgage loan is with Ocwen Loan Servicing. They are very confused and disorganized. I have tried on multiple occasions to resolve my delinquent payments caused by loss of income and ran into XXXX roadblock after another. I was told I was approved for a program and tried to make my payments, but Ocwen misplaced/lost/refused to accept them. To this day I am not sure what happened, and apparently neither are their employees. This is beyond frustrating. I feel like I am literally in a black hole trying to deal with them, I have sent in multiple payments that have been returned, completed the modification approval paperwork and submitted the payments a second time only to have them returned. I demand that things change, I demand that Ocwen start treating my case as a priority, I demand that this get straightened out. 
I bought this house brand new and at the building site they basically steered me to us the " in house lender '' so I could get the incentives. Well this company basically shoved me into a very predatory adjustable rate loan through XXXX XXXX with a payment that began adjusting literally every month. It went up over {$600.00} a month which definitely overextended me and put me in a bad position, but I had a plan that would increase my earnings and put me in a better position. I had worked as a XXXX for XXXX years and retired in 2010 and used my savings and profit sharing to go to school to get my XXXX. I had been promised by people in the business that I would make a lot more money going this route than staying with the status quo. I got XXXX and started working for a company as a XXXX. Unfortunately, this was not as advertised. I could not make much of a steady income. This just did not pan out, and my income dropped precipitously and I could not keep up with my mortgage payments. 

I began trying to work with your Ocwen towards a modification. This was a long and grueling process. My income was still low so I ended up going back to XXXX and started working as a XXXX. XXXX Bank. Finally I got approved for a modification with a new payment of {$1300.00}. I wanted to be sure to honor this agreement and took out a small loan against my pension with XXXX in order to have all of the funds available on time. 

I never received a statement or payment coupon indicating when the first payment was due. I simply received a letter from Ocwen the last week of XXXX regarding the first payment date of XXXX XXXX and I sent the payment out immediately. Ocwen did not cash the check. I received another letter stating that the next payment was due on XXXX XXXX so I mailed in that payment immediately, well in advance of the due date of XXXX XXXX. Ocwen did not cash this check either. 

A couple of weeks later I got a package that asked me to sign for the modification and stated that I needed to pay {$2600.00} in order to be get the modification reinstated. This is the amount that I had already paid to Ocwen, but my checks were sent back along with the paperwork so for some reason they were not cashed. I then sent the paperwork back along with payment but once again my checks were sent back. 

This is ridiculous. I have demonstrated that I wanted to accept the modification and sent in my payments, but due to the disorganization of Ocwen I am declined.

Company response to consumer: Closed with explanation