Oh hell no, OCWEN should not get shit. I am very anti bail out. I know it would hurt the economy. I also know that many companies were performing predatory loans moreso on ethnics than whites. What really chaps my ass is that OCWEN wants foreclosures, that is their business plan and always has been.
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Gerco, I understand your situation and feel for you. But blaming everything on a lender is not right. I think if you are going to spend that kind of money on a house, you should also spend a few hundred dollars on a quality lawyer to look through the terms and tell you what it means. Burying something on page 20 doesn't make it any less important than it being on page 1.
I would just say that it's best to chalk it up as a life lesson.Comment
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They're average Americans man. It's a bad situation.Ya... We need to start looking closer into our educational system. People have stopped being self reliant and have now turned to NEEDING a scapegoat for poor decisions. Smart individuals never make large uneducated decisions...especially when the stakes are as high as they are.
Some of the wisest words my father ever said: "Don't take somebody else's word for fact when they are handling your money."
Peaches...I'm glad I'm not alone here.Comment
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To collect on average less than 5.00?
Just as tubes use certain little loop holes or some Euro companies illegally license out material. They pretty much know that either it is to small of an amount to sue for with an attorney and they will bury you in legal fee's while doing it. Then assuming people do sue them, which they have. They get a tiny slap on the wrist financially and get to hit the reset button.Comment
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Of course...Fighting the man is impossible. Especially when the man takes baths in pools of $100 bills. There are some solutions that would just be too easy (global lender terms, universal plans, etc). However, the root of the problem with these banks selling off the loans has to do with too many people overextending themselves (assuming that once the interest jumps, they will be better financially), taking out huge home equity loans, not understanding their original terms, or just assuming that the market will be on a constant upswing.
I do feel for people with legit issues, like the ones you had to deal with. I also respect the fact that you took the time to dig yourself out of the hole. It's just that so many people are taking the approach that some in this thread are: "Fuck it.. I have enough cash for a new home. I'll scrap this shell and move on." I don't have it in me to have sorrow for 90% of the people who have had to foreclose on their homes. One must admit that the overall problem was poor planning, the inability to read the fine print, and the overall inability to grasp common concepts of economics. I am a person that had to deal with a loss a couple years back on a sale, and I accepted it. I just wish more people could do so instead of getting handouts at every corner of their life.Comment
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Did you hear about that new law they passed in Vegas?I am sorry to hear about your healthcare issues...I can relate to that 100,000,000%. I just wince when hearing anybody choosing foreclosure over playing ball when they have the means. It's because of these foreclosures that people like myself are sitting on properties worth $70,000 less than they were when they were purchased just 2 years ago.
Im not 100% sure how it works but its something to the extent of if the bank agrees to take the quick sale price it will not report on your credit if you foreclose.Comment
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Questions/Observations
BANK .... to me this means a national or local company FDIC insured with locations that provide checking, investment services, loans, commercial divisions, etc .....
VARIABLE/ADJUSTABLE RATE .... a percentage over prime adjusted at predetermined periods of time ... quarterly, yearly, etc .... with a cap on the high end.
Who are you referring to when you say the "bank" screwed you? The brick and mortar locations with driver-in windows or what? An internet company ??? Wall St. paper pushers?
My commercial loan rates are going DOWN along with the prime. What caused the increase to 12%? Was it based on consumer price index, prime rate, etc ... or was it just a bad deal for those that didn't have an attorney at closing?
Honestly .....?
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Also the banks I use when applying for a loan want written explanations why a cable bill is late. Who the hell lends money without even proof of income?
That alone tells me something is not right. How can the lender not verify what someone even makes?Comment
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BOOOOOO let them burn. I was responsible and I deserve the right to pick up some rental property on the cheap after the sky comes crashing down. Fuck you bail out mother fuckers!!!!
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What part of Ocwen has totally fucked my credit did you guys not understand? I have talked with at least 15 lenders, and hear the same story every-time... My homes NOW not worth the 123,000 Ocwen is demanding in payout, If you call Ocwens number they now have a recorded message telling you that they do not accept ANY short sales anymore. So, I would basically be buying my house back for over 33,000 dollars above it's current value. Yes, I have the means to do it, but like I stated before, no I'm not going to. Ocwen has been fucking a LOT of people over for many years, this is nothing new... There are reports all over the web about them. I have had the calls, the harassment and more from this company. Now, it's in my attorneys hands. No, I will not owe a damn thing when I walk away. And I'm more than prepared to take it a step further if I have to. When it is all said and done I will make a fresh start of it. As much as they have fucked up my credit already... foreclosure and even bankruptcy would not be a bad choice, at least I would start with a clean slate. Meanwhile, the banks get richer, cause they get the bailouts AND the homes...Http://www.extremehole.com
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Gerco, educate me a little ... see post #63 .... thanks.Comment
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Funny how you only discovered this AFTER you decided to do business with them. Seriously, Ocwen has been fucking a lot of people over for many years and you allow yourself to do business with them? Maybe you should have considered this BEFORE you signed your loan contract you moron.
Fuck off and pay your bills!Comment
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Not sure that I can, I know that Lasalle Bank is the actual holder of the note, but they use this Ocwen company as a debt collector. Now, the really odd thing is the original note was sole to this Lasalle Bank, you immediately started to use Ocwen on me before I even made the first payment. Then, they started with the extra fees, I had to pay using their western Union speedpay, etc.Http://www.extremehole.com
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Http://www.extremehole.com
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Here's some investment advice: Buy low, sell high.Comment
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Seeing other experiences is good. What's bad is the shady shit thats been going down and putting people into this.
Sherm, I'm actually looking right now for a new place in Vegas, If you know of any good resources let me know.Http://www.extremehole.com
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In November, you can vote for America's next president or its first dictator.Comment
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I have to tell you they said during the boom getting mortgages was so easy. I got a feeling because no matter what my broker said I said fixed rate. They had me jump thru more hoops to get it. It wasn't a big one either.Comment
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Hmmm... I'd recommend a broker if you are looking in town. With so many foreclosures on the market as well as the MLS listings, you're sure to find a good deal (and if you find something and take a broker, the broker may even kick you back half of his/her commission).
Hell...If you check Craigs List, you may even fine some sellers without a broker who are most likely trying to just get an offer! Bring in your broker and play hardball.
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