Consumer complaint received 2019-03-13 00:00:00
Product: Mortgage — Other type of mortgage
Issue: Struggling to pay mortgage — 
Company: Ocwen Financial Corporation
State: DE

Complaint narrative:
I am writing based on the lack of important disclosure in the modification process of my mortgage. I took over this property from my exwife to whom the property was awarded to through a divorce. My exwife did not remove my name from the home in a timely manner as stated by the courts Instead she abandoned the property and I had to take over the home effective XX/XX/XXXX per a court order. Prior to doing so I connected with Ocwen and was advised I can assume the loan .I was told the get a quit claim deed executed and registered with the county to remove my exwife from the deed and give up her rights on the mortgage. .After doing so and had the deed changed to my name I was advised I can not assume the loan until a year after the mortgage went current. I sent all the documents and got a letter in XXXX advising me of a modification approval. All the letter stated was the new payment, escrow, principle and interest and that I needed to make 3 months of payment after which the modification will be permanently modified. I was encouraged to set up auto to avoid any missed payment opportunity especially since we need 12 months of on time payment to assume the mortgage. 

With that being said, I accepted the modification and started making payments in XXXX. I got a call in XXXX from my relationship manager at Ocwen XXXX XXXX asking if I had gotten the document I replied no. My relationship manager XXXX XXXX XXXX sent an email version of the modification. I acknowledge receipt of the letter and discontinued the call. Later I begun reading the documents and saw that there was a balloon payment asking me to pay of XXXX. Upon seeing this I wanted to speak with Ocwen before singing because the initial modification mentioned nothing about the balloon payment and when I spoke with my relationship manger he didn't say there was such a stipulation. I couldn't have signed because I would be committing myself to pay that money at that time. 

I was unable to speak with someone so I sent an email after which someone called and then my relationship manager called the next day and explained why the balloon payment. I advised him ill sign and look to refinance prior to the balloon payment. By this date it was passed mid XXXX and my exwife had not signed the document yet. In the quest to meet the deadline I said I will have her sign and either fax or email the document. He said no, it has to be mailed. I now know it wouldn't have gotten there in time I was advised no worries just get it back to us asap. 

At this moment all the payments have been made as agreed, the mortgage was current and reporting current on my credit bureau and we confirmed after 12 months of positive and onetime payments I can assume the loan. Only to got a letter on Saturday XX/XX/XXXX advising me of foreclosure actions and that my mortgage is 6 months behind along with an increased payment. 

I did all Ocwen asked and yet my account is extremely past due and the risk f foreclosure action., I am a XXXX war veteran who has worked very hard to get here and is at the risk of loosing my home now increases my anxiety level. I was never told about the balloon payment even when XXXX XXXX XXXX called on mid XXXX and knew there was a balloon he failed to disclose that information to me. If he had told me that we would have had the conversation that I waited almost 2 weeks after he called to have. 

Ocwen changed the terms of my loan drastically and also ignored my plea for a no reduced payment, I was misled about the assumption and again blatantly withheld primitive information from me which was pivotal to making an important decision. A mortgage is a big investment and ought not to be take lightly. I have already spoken to XXXX XXXX XXXX and advised him that all I want is my mortgage back on track and my credit report updated. This could affect my clearance for my job. My mortgage was only 3 payments when I did the modification it's now 6 months past due. I paid Ocwen from XXXX until now as they asked. This has really broken my trust for Ocwen, it is unethical, unscrupulous and un American to treat anyone like this much more a XXXX   XXXX veteran. Ocwen advised me on XX/XX/XXXX that I can reinstate the mortgage by making all the past due payments. I don't have that money to pay including all these factors : the payment has now increased form XXXX to over XXXX per month, the account is not just 3 months but over 6 months past due. This process has resulted in more adverse action that what it was before. I am helpless and is being manipulated by an big organization. I truly need my account updated, so I can assume the loan within a year as stipulated. All my payments were made on time, and my account was on its way to 12 months on time payments. Bringing back my loan to XXXX within out contacting me is bring my loan back to XXXX and no one even tried contacting me speaks of Ocwen 's continued unethical practices. I felt like it's a scam to steal and or foreclose on my property .This is absolutely a scam and can not be legal to make such a change and don't disclose the information and change with the borrower. I need some assistance resolving this issue, hold Ocwen accountable for unethical practices.

Company response to consumer: Closed with explanation