Law Blog

REAL ESTATE: OCWEN CLASS ACTION IN FLORIDA

With the market on the rise for the last couple of years, the foreclosure crisis seems to be sputtering out.  That said, last year there were still some 700,000 foreclosures in the country.  And, I think most of us have had our fill of stories about bank misconduct.  We would like to feel like things can get back to normal now.  Well, it turns out there are still some glaring examples of predatory behavior in the industry.

Our law firm was recently retained to defend against clear attempts by Ocwen to force the homeowner into foreclosure.  We have seen that before, and there certainly is no shortgage of complaints by homeowners against Ocwen’s practices as a loan servicing company.  Ocwen has already been sued by 49 state attorneys general, settling for $125 Million, and there have been class actions against Ocwen in Pennsylvania and California.

What is particularly noteworthy about Ocwen is that their misconduct tends to be egregious and, even when they are clearly on the wrong side of the law, they don’t budge from their position until lawyers get involved.

So, it has been our experience so far that Ocwen will eventually pay or otherwise do the right thing — but you WILL have to force the issue through litigation.  Our firm has have very good success against Ocwen.  And, it is always shocking to me just have far we have to take things to get the result.

I do not know if Ocwen’s stubborness — even when they are clearly in the wrong — is a strategic business decision, or if they are just too disorganized to avoid these situations.  I suppose neither would surprise me.

If Ocwen has adopted this policy on a nationwide level, are they betting enough homeowners will roll over to make it worthwhile — even if they do have to deal with a few pesky multi-million-dollar lawsuits?

What I do know is there is a fresh batch of homeowners that have been victimized by Ocwen’s predatory practices.   So . . .

CALLING ALL HOMEOWNERS WITH A GRIPE AGAINST OCWEN LOAN SERVICING COMPANY.  LET’S START A CLASS ACTION IN FLORIDA.

Call our office for a free consultation and more information.

~ Jeff Harrington, Esq.