Consumer complaint received 2017-01-17
Company: Ocwen Financial Corporation
State: FL
Product: Mortgage
Sub-product: Other mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
Applied for a Home Affordable Modification with Ocwen Loan Servicing , LLC and was approved for a three month trial of {$380.00} a month. I made all payments on time and was sent the documents to sign for approval but upon reading the documents this look like extortion. If I could not make my monthly payments due to a injury at work which caused me to be XXXX and a very significant decrease in my income what would make them give me a modification where I make monthly payments in the amount of {$380.00} for 23 months and have a balloon payment of XXXX which is the beginning principle balance. So, what happened to making the loan affordable for the homeowner to keep their home this is more like pay me some money dummy and I still keep your home. The home was going to auctioned off anywhere between $ XXXX in the year XXXX. I guess it is a good thing I can read. I filed bankruptcy due to this injury and was trying to do the right thing and pay for the property because it belongs to my mother who has been helping me through this process. I would love to keep the home so my mom can return when the time is right but I will not be a fool. I know this company has many complaints and bad reviews at the XXXX and I can see exactly why. I thought they were wrong for telling me not to send in my payments to catch it up when I got out of the hospital but this right here takes the cake. This is not an Affordable Home Modification at all. I also told my agent that I had not received my documents and they still sent documents with the XXXX deadline and it was clearly delivered in XXXX just another dishonest tactic. If payments are being made please tell me what is it being applied to : Somebody Pockets because it is definitely not the loan and at what point did Ocwen try to work with me by only dropping the interest rate and not applying the funds to the loan but applying fees. I see that number 2. was just ignored completely : If my representation in section 1 continue to be true in all material respects and all preconditions to the modification set forth in Section 2 have been met, the Loan Documents will automatically become modified on XXXX/XXXX/XXXX ( the " Modification Effective Date '' ) and al unpaid late charges that remain unpaid will be waived. Because I do n't agree to add all amounts including arrearages, unpaid and deferred interest, fees, escrow advances and other costs. If I could have made payments we would not be at this point. It is called a Home Affordable Modification not Unaffordable Home Modification. Please tell me what average person has XXXX to just give at one time. ( Not many if any ) At, this point I 'm not average because I 'm XXXX and just starting working last year in a position that paid XXXX an hour. So, please tell me how and the world can I pay XXXX in 23 months. I have made three payments in the amount of {$380.00} a month on time and no credit has been applied to my account according to these documents.

Company response to consumer: Closed with explanation