Ocwen Nightmare

[Joel Fraser]

I inquired about a Loan Mod with Ocwen back in April 2008 and submitted my paperwork (via certified mail) on April 25th.....I was told it would take 15 days to process. After countless phone calls to their 'Customer Service Number' which is in India I finally received the Modification Agreement @ 5pm Friday, June 20th. The agreement stated I had till June 25th. to sign and send back with my down payment. I noticed right away there was some very vague language in the agreement. The first item was in the cover letter and states:NEW MONTHLY PAYMENT: $2,542.59(which may or may not include escrow)Second item was in paragraph 3 which states:'Any payments due for taxes or insurance will be your responsibility in addition to the payments of principal and interest required under the terms of this modification.'I called OCWEN to go over the agreement and asked if my taxes & insurance were included in the monthly payment. Anthony in Bombay assured me the taxes & insurance were in fact included in the payment. Great!! I told him that there was an error in the cover letter and in paragraph #3 that stated that they were not included and asked him to please correct the error. The answer I got was astounding. Anthony informed me that this was their standard agreement that had been approved by the legal department and COULD NOT BE CHANGED. I asked him why he was telling me one thing on the phone but the agreement clearly states otherwise. Anthony informed me (in a very threating manor) that if I did not sign the agreement 'as is' that OCWEN would put my home in foreclosure Which they ended up doing 2 days later.The next item I inquired about was paragraph 9c that states:'Any expenses incurred in connection with the servicing of your loan, but not yet charged to your account as of the date of this Agreement, may be charged to your account after the date of this Agreement.'I asked Anthony what 'Any Expenses' were and he informed me that was 'legal fees and stuff'. I told him I thought that term was very vague and asked if he could be more specific. This inquiry seemed to irritate him emencely. Again I was informed that this was their standard agreement that had been approved by the legal department and COULD NOT BE CHANGED....along with the standard threat of foreclosure.I feel I'm being forced to sign a misleading agreement that does not reflect what I'm being told on the phone. Aside from hiring an attorney (which I can not afford) what can I do??Los Angeles, CaliforniaU.S.A.