Consumer complaint received 2016-12-08
Company: Ocwen Financial Corporation
State: FL
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
I am a victim of an unethical and predatory loan servicer, Ocwen. After years of battling with them it ended up in a court room and an agreement was reached that would allow me to save my home. The agreement required me to make a onetime lump sum payment of {$5200.00} in order to close the deal and I would then resume making regular monthly mortgage payments on my loan. However, after providing Ocwen with the funds they have changed the rules of the game and state that I owe them an ADDITIONAL {$8000.00} in order to pay some other past due fees that were not disclosed ( or clean up bad and shady accounting on their part ). They are holding my modification hostage and I am beyond flabbergasted. I also just became aware that I am being charged an additional $ XXXX in deferred interest. This is not what I agreed to. Although I am grateful that we were finally able to find common ground and reach an agreement that would allow me to have my loan modified, I do not appreciate Ocwen changing the terms after we already have reached agreement and then setting a sale date for XXXX XXXX. 
The servicing of this loan has been a comedy of errors. The problem began in 2009 -- the financial markets were failing, XXXX had crashed and been bought out by XXXX XXXX XXXX and I received a notice that I had missed my XXXX 2009 payment. I provided proof of the payment and continued making payments, but instead of fixing the problem XXXX escalated the matter, refused to give me credit and filed a lis pendens and put me into foreclosure. I tried to resolve the matter but found it impossible to deal with XXXX or the infamous Law Office of XXXX XXXX ( shut down by Florida XXXX ) and could make no progress towards resolving this matter. The loan was transferred to Ocwen, and they tried to move forward with the foreclosure I began requesting documentation and discovered significant irregularities relating to the backdating of documents, altered ledgers, documents that are cut and paste, figures that do n't match, homeowner 's insurance that is paid by XXXX different entities in the same month etc. etc. 
My Attorney and I were able to raise these issues and prove that XXXX and Ocwen had engaged in unethical and deceptive servicing practices. That is how we were able to finally come to settlement, because Ocwen did not want their business practices publicized through a legal precedent, and because I wanted to save my home. I never thought that they would renege on the terms of the agreement and demand a larger down payment in order to close on the modification. I also do not agree with or consent to the addition of $ XXXX in deferred interest. This figure is not accurate, this was proven in the documents filed with the court. 

Again, I appreciate the fact that Ocwen is willing to work with me and that a resolution was provided. However, after the fact Ocwen has changed the rules of the game. This is a XXXX XXXX owned loan, and there are specific assistance programs available for me through XXXX XXXX as well as XXXX or in house Ocwen programs. I am not happy, nor do I agree to a down payment of more than {$5200.00} in order to enter into the modification. I am not happy about, nor do I agree to a deferred balance of $ XXXX that is due as a balloon at the end of the loan term. I am not happy about, nor do I agree that 3.875 % should be the rate for this modification. I am not happy nor do I agree to an escrow account. I do n't want to go back into litigation, I want Ocwen to honor the original initial contribution figure that was agreed to.

Company response to consumer: Closed with explanation