CFPB Complaint


Consumer Complaint Submission

Date Received: 2017-09-25T00:00:00

Product: Mortgage debt

Issue: False statements or representation

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: We Did a Loan Modification with XXXX XXXX back inXX/XX/XXXX to a low interest ( ARM ) Interest only payment. Our Loan was Sold to XXXX XXXX inXX/XX/XXXX. We always paid on time and never had issues.
In XX/XX/XXXXwe were looking to sell our Home but decided not to because we were told repeatedly by Ocwen and also confirmed with the online statements that the rates remained at a low 1.75 % interest only rate. 2 Months ago we received a letter that our rate was increasing in XX/XX/XXXX and would adjust to the current rates so we decided to sell our home.
when we received escrow documents we were astonished to see that ocwen had added an additional $ XXXX in Principal to over original Balance of our loan. They added Interest payments going back toXX/XX/XXXXas well as Principal unpaid.
we have layers involved but have since closed escrow because we could not afford the newly adjusted rates+ principal payments and could not refinance the loan because of the Loan to value based on their new principal amounts.
we are now stuck after the fact trying to dispute with ocwen the amount and their calculations which we feel are agregeous and misscalculated


State/Zip: CA 926XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2684242

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See also  Southwest Credit Systems, L.P. - CFPB Complaint 2017-06-30

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