Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Good Morning all! Here is our story. In 2000 we took out a mortgage to purchase a home from the guy we had been renting from. In July 2001 we was contacted by a company called Prestige Mortgage, wanting us to refinance so we did. We refinanced with a company called North American Mortgage Company I assume Prestige was a broker for North American Mortgage Co. A lady  came to our home and did all of the closing. Before we even sent one payment it was sold to Meritech Mortgage Co. In February the loan was sold once again to Ocwen. This is where our nightmare has begun. Long story short every month we got late charges even when the payment was made way before it was due. We called and they always said they didn't receive it before the 15th.  I think they would purposely hold the check. Eventually we fell on some hard times and daughter needed some surgeries so we called them and asked for modifications which they agreed to. But it made our payments sky high so we were unable to pay the mortgage. April 2009 was the last payment I have made to Ocwen. They sent me a Act 90 letter of default in July 2009, that is the last I have heard from them. I look at my account info online and they have our loan as being charged off. They are also reporting on our credit that there is a zero balance and we are current? They do send people around to take pics of the property. We did move out because we dont want the sheriff showing up and putting us out. I think they have to legally foreclose on us, we are in a judicial state. I think we are going to move back in so we can save the rent money we are paying now. Does anybody have an opinion as to what they may be up too?

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Moose
Shelly, they're probably dodging having to pay taxes, insurance and upkeep on the property.

Who paid the 2010 property taxes?

This isn't legal advice but I wouldn't move back in. God only knows what damage has been done inside that they would claim you caused.

Chances are, if you did move back in and one of their drive-by RE agents reports that the property is occupied, they'd act and you'd have a visit from the Sheriff.

Moose


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Shelly
I believe you are right Moose because I paid the taxes because a tax notice from the sheriff's office was posted on the door.  We have no insurance on the place. I believe we are going to move back in. And wait for their next move. They have the amount that we owe on that loan up to almost double what we took out on the loan. 
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Moose
Shelly wrote:
I believe you are right Moose because I paid the taxes because a tax notice from the sheriff's office was posted on the door.  We have no insurance on the place. I believe we are going to move back in. And wait for their next move. They have the amount that we owe on that loan up to almost double what we took out on the loan. 


I can't imagine your personal circumstances and what your housing situation is currently, but I would suggest you have a fall-back position for whatever they do in response.

Ocwen is a known predator and has somehow made itself immune from any real criminal prosecution. The same people that led them through countless abuses of borrowers are still in control of the company, which means the culture of opportunism is still alive and well. They could justifiably be considered the surviving "great white" among sub-prime servicers and their relationships with devious foreclosure law firms is well established.

It's an old-boy-connected firm with unlimited resources to settle without admitting wrongdoing. The Florida AG's office has not and will not touch them, nor will the DOJ. How that has been allowed to happen is open to conjecture but clearly, Ocwen and its officers belong to a protected class so don't be surprised by anything and be prepared for everything.

Moose






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