[Ed Note: We rarely publish stories from clients or readers. The exception, of course, is if someone wants their story told. This story from “Brandi” is one of many horror tales involving Ocwen. In our opinion, they are the most disgraceful residential loan servicer in the nation. To protect the privacy of the family, their last name and property address have been redacted. The remainder of their story appears as presented to us with only light editing.]
Here is Brandi’s story:
On October 31st, 2018 at 10 a m my home was foreclosed on... I live in Indiana... My name is Brandi. My husband Jerry passed away on March 6th, 2018. Jerry was a service disabled veteran who served honorably in the Marine Corps. Jerry had resided at our home for 36 years. We met when my daughter Maggie was 6 years old and my son James was 1 and 1/2 years old. We fell in love and lived together until he surprised me one morning by taking me down to the county courthouse. Unbeknownst to me, we walked into the county clerk’s office whereupon Jerry told the lady behind the desk that we needed to get our marriage license. I was pleasantly shocked. Like a fairytale, we filled out the application for a marriage license and were married a short time later in a small ceremony at one of his dear friend’s home. Present at the wedding was my now grown older son and his fiancé as well as two of my beautiful granddaughters. On October 16th, 2016 we made it official and became husband and wife. It was the happiest day of my life!!! Soon after I suffered the worst day of my life... On March 6th, 2018 my husband Jerry was taken suddenly from this world from a massive heart attack. He passed away in the floor of our home with me and our little boy Jameson at his side as we awaited the paramedics to arrive. His death was tragic but the story doesn’t end there. Our home was financed through Ocwen Financial at an outrageous interest rate of 12.75 %. With my husband gone, paying bills was not easy. I was falling behind. Our life long attorney assured us that the home could be saved and also informed us that if we received any correspondence from the Sheriff's office or Ocwen themselves not to worry that all would be taken care of. Unfortunately, that was not however the case. After Jerry’s passing, I was informed that the home had never been put in both of our names. I just lost my husband; would we lose our home next? What would happen to my two small children that still lived at home? I contacted Owen immediately to find out what was going on. A representative there told me not to worry. My name was on the mortgage due to an earlier loan modification. Ocwen gave me until the end of October to apply for a loan modification. They again assured me that everything would be fine. Everything they asked for in their loan modification application, I sent. Proof of income, death certificate, hardship letter, etc. Shortly thereafter, I then called back to make sure all documents had been received and everything was in order. To my horror, Ocwen was once again saying that since I wasn’t on the deed, they would not refinance. In another conversation I was told they no longer did refinancing or loan modifications. Once again, I could not believe my ears!!! What kind of financial institution was this? How can they promise everything is okay one day and pull the rug out the next? Like an emotional roller coaster, one representative says everything is fine while another says the opposite. Back and forth. Did they not have any idea what I had been going through??? I Lost My husband and was valiantly trying to keep our home… my children had lost the only Daddy they ever knew and loved. So much was happening that I didn’t even have time to grieve. It became obvious why my husband was under so much stress and anxiety prior to his death. Our financial problems began before his death and like my experience, he found himself on the same emotional rollercoaster. One day everything is fine but on the next, you fear the sheriff knocking with eviction papers. And through all of it, I had to keep it together for my kids and try to save our home. One day things were fine and on the next, I was back to constant worrying about our home and how to keep it. Ocwen told me to make trial payments to show I could afford the house yet they would return my payments little or no explanation. And then there were the late fees. When I would call to get information or alert them to a problem, no one would even answer the phones. Hmmm… could this have been some of the underlying causes leading to the sudden death of my Husband??? Now as his widow and at the age of 50, I am beginning to feel the same symptoms of stress anxiety and chest pains. And I was now living on the same emotional rollercoaster. I worried that I was going to be the next person that the paramedics would find on the floor of my home with my 2 children standing by. The mental anguish, exhaustion and fear set in... The end was near... I gave up the fight or was told by all in authority I had no legal recourse, and no leg to stand on. Finally, the end did come. I was put out of my home with just 5 hours to get my personal belongings. With almost no notice I was suddenly standing on the outside of the door all of the many years of memories locked on the inside. In the few hours we were given to get out I managed to get a few pictures, the kids beds, my husband's United States flag and my Bible. We were forced out of our home with virtually no notice. We left most of what was so dear to us behind. As I write this, we are now 3 days into our new found life - homeless, hopeless and scared. I say my prayers each morning as I wake to see the light of another day, not understanding why I am even still on this Earth but thanking the Good Lord above for all that He has given me. At this point I only hope my story will be told if I do not wake to see tomorrow... God Bless All who may read this. Brandi
The story is gut wrenching. A woman and two little kids forced on the street and today homeless.
We understand banks are entitled to get paid. When the financial crisis hit, almost all the banks came hat in hand and asked taxpayers for a bailout. Congress raised hundreds of billions of dollars and created the TARP program to bail out the banks.
Part of the bailout, however, required banks to help people who were underwater obtain a loan modification in the form of more time to pay, a reduced principal, lower interest or some combination of the above.
Since the 2008 financial crisis we have spoken to hundreds of homeowners who had an Ocwen serviced loan. Almost all have similar stories. Modifications that get denied without explanation, missing paperwork, unanswered phones, conflicting information and false promises.
The latter – false promises – is perhaps the cruelest of Ocwen’s behaviors. Getting people’s hopes up only to later dash those hopes is beyond cruel. We think it is criminal.
We do not know the details of Brandi’s case. Although we strongly suspect the bank was in the wrong, even if they were legally right, banks still have a moral obligation to treat customers with dignity.
Our complaint isn’t with the people that work at Ocwen. We have spoken with several. In our opinion, senior management has structured the company such that the deck is firmly stacked against homeowners.
Why do we say that? Gross understaffing. Poor training. Computer systems that don’t speak to one another. The workers are generally demoralized.
As noted on our Ocwen investigation page, we are not set up to handle individual residential mortgage modification and wrongful foreclosure cases. We tell these stories, however, in the hopes that borrowers will get fed up and demand their elected officials and the regulatory agencies take notice and shut Ocwen down. We urge everyone to demand that HUD, the CFPB and Congress fix these problems.
Not too long ago, half the states in the United States managed to shut down Ocwen. Like a cat with 9 lives, however, Ocwen was soon back in business after making dozens of promises. In our humble opinion, nothing has changed.
Call for Ocwen Whistleblowers
As readers of this blog and homeowners, you can do your part by making your voice heard in Washington and in the state capitols throughout the United States.
As a national boutique whistleblower law firm, we are doing our part by seeking Ocwen insiders. Under the federal False Claims Act, whistleblowers with inside information about mortgage servicing fraud may be entitled to large cash awards. (Several cases have paid out awards of $50 million or more.)
If Brandi’s story moved you, help us stop the greed at Ocwen once and for all. We can’t do it without you. If you have inside information about servicing abuse or illegal behaviors involving loss mitigation procedures, visit our Ocwen fraud investigation page and then contact us.
All inquiries are protected by the attorney – client privilege and kept confidential. We can be reached online, by email [hidden email] or by phone at 800.669.7782 (direct). Rewards are generally paid to the first to file. If you have information, don’t delay.
NEW FEATURE: We have added an Ocwen Links page chock full of everything a homeowner or would be whistleblower needs to know.