Mortgage -- Struggling to pay mortgage -- Complaint #10118409
Complaint Overview
Complaint ID: 10118409
Company: Ocwen Financial Corporation
Product: Mortgage
Sub-Product: Reverse mortgage
Issue: Struggling to pay mortgage
Sub-Issue: Foreclosure
State: California
ZIP Code: 922XX
Date Received: 2024-09-12T12:00:00-05:00
Date Sent to Company: 2024-09-13T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
I am on title and the beneficiary of property that has a reverse mortgage balance of {$420000.00}. The property was put on the multiple listing a week ago for sale for {$750000.00} and I have offers for {$680000.00}. PHH Reverse Mortgage has rushed to foreclose not GIVING me time to close a normal escrow. I asked a for a 30-day postponement. The borrower XXXX XXXX passed XX/XX/XXXX, PHH Reverse had a repayment agreement of {$530.00} a month that we were paying for 2 years to pay back taxes on the property that XXXX had missed, and on XX/XX/XXXX PHH Reverse cashed {$7500.00} THAT I sent them to cure the defaulted balance owed. They set an auction sale date for XX/XX/XXXX and claim they do not have to give me the beneficiary time to sell. After I have paid out {$30000.00} in property taxes and homeowners insurance on the property. I was the caretaker for XXXX XXXX and was authorized for 2.5 years to speak to PHH Reverse make payments and care for XXXX and the property. PHH Reverse is rushing to foreclosure, the property was not in default, I paid all that was deficient and XXXX & XXXX property taxes and home insurance. Seeking a short-term sale postponement.
Frequently Asked Questions
What is Complaint #10118409 about?
Complaint #10118409 was filed against Ocwen Financial Corporation regarding Mortgage specifically about Struggling to pay mortgage. It was received by the CFPB on 2024-09-12T12:00:00-05:00.
How did Ocwen Financial Corporation respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Ocwen Financial Corporation?
Yes, visit the Ocwen Financial Corporation company profile at readthecomplaint.com/company/ocwen-financial-corporation to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.