Los Angeles, CA - Ocwen does not have the best reputation among many borrowers who are forced into the foreclosure process. Most Ocwen foreclosure victims had no choice in having Ocwen as their lender. The loan was most likely sold to Ocwen from another servicer such as Bank of America or Chase. This action does not require a homeowner’s approval. Ocwen has a reputation for starting the foreclosure process almost immediately after purchasing a loan; even when the loan is not delinquent. Across California, homeowners that want a fair chance in saving their home should immediately take action after receiving a notice of default.
The Ocwen foreclosure process is more aggressive than most. According to attorney Lauren Rode, “In addition to pushing homeowners into foreclosure so that they can sell the home at auction, Ocwen is notorious for having customer service that makes it impossible for a homeowner to find out the accurate status of the their loan.” Getting in touch with someone at Ocwen over the phone only adds to the frustration for most homeowners that are doing everything they can to save their home. In many cases, homeowners are trying to get in touch to discuss a loan modification they had with their prior lender before Ocwen bought the loan – but in some cases, the documents get lost in the transition.
Any new lender that is purchasing an existing mortgage loan has to honor a prior contract including a prior loan modification agreement. Many homeowners find out that their loan modification paperwork did not make it to Ocwen during the transfer. This causes serious problems, as the lender will typically put the responsibility back on the homeowner to submit a new loan modification package. This process is time consuming, and may be illegal. California homeowners have been successfully suing Ocwen for predatory lending violations including lying and misinforming borrowers who are fighting to keep their home.
Ocwen Foreclosure Timeline
Most homeowners simply want to know how much time they have before their home will sell. Getting a straight answer out of their customer service department can be confusing, and the Ocwen foreclosure timeline is usually compressed. One of the most serious legal violations is called dual tracking, when Ocwen tells a borrower to go through the modification process and continues with the foreclosure process at the same time. There are legal options for homeowners who want to stop the foreclosure process. California foreclosure defense attorneys can help homeowners to save their home before Ocwen can foreclose on the property. An experienced California foreclosure defense attorney will take the time to look at the full scenario to find out if Ocwen did anything illegal during the foreclosure process that could warrant a lawsuit.
Suing the lender and the process of mortgage litigation is often the best way to get the results a homeowner deserves. There are devoted California foreclosure attorneys that can help sue Ocwen for predatory lending practices during the foreclosure process, with the goal of helping homeowners save their home. Homeowners that think their loan was mishandled by Ocwen should immediately call foreclosure attorneys for legal advice.
California foreclosure defense attorneys can help homeowners determine what legal options they have when fighting foreclosures.
For more information on how to fight Ocwen foreclosure visit: http://blog.consumeractionlawgroup.com/the-ocwen-foreclosure-process/
About Consumer Action Law Group
Consumer Action Law Group is a law firm dedicated to help consumers in consumer-related matters or consumers that experienced fraud and scam. Attorneys in the team are knowledgeable and experienced in the areas of eliminating debt, mortgages fraud, auto fraud, and foreclosures. They have direct experience in consumer fraud matters and helping consumers who are facing financial crisis, foreclosure, issues with employers, and problems with auto dealers.
For Media Inquiries
Contact Person: Lauren Rode, Esq.
Telephone: (818) 254-8413
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