Good news! I have MGC and Ocwen backed into a corner with a four federal allegations. Court date (again) is set for the end of this month. My lawyer believes they are not prepared and are ready to settle. Only took three and half years!

My overview. I had Ocwen FSB as my primary loan for about 10 years. I filed a Ch 13 bankruptcy. Paid everything off as the plan dictated, and was released from it. Ocwen decide the $3911 they got wasn't enough, so they sent me a post bankruptcy bill and a letter to sign to agree to pay or they take the house.

That went straight to a lawyer (took a lot of calling around, but lawyer will usually recommend other lawyers, so stick with it). It cost me 2/3 of the settlement, but all I was out was $100 in filing fees up front. We sent Ocwen some letters, they responded, admitting to their crime (federal offense which I got a call from an federal investigator, who then called my lawyer). We soon as we filed suit in federal court, Ocwen sold (more of a transfer since they didn't own the note) to MGC Mortgage.

MGC got real nasty real quick. Taking my mortgage payments and adding them to this arrearage. Added their own made up fees. In a few months, my $388 mortgage went to $1200. Not that I cared, because I had a good lawyer. I called them (many many times before I got though), and told them the story with Owen and the lawsuit, and how they just joined it. They wanted the lawyer's name and number. The guy completely stopped the hard noise dead beat collection attitude right away, and said he'd look into and give me a call back. He didn't, but ALL nasty grams, and auto calls stopped (they still had two mortgage payments not applied).

So now we keep setting a court date for which they (both MGC & Ocwen) keep asking for a continuance. They are being sued for violation of RESPA, FDPA, bankruptcy violation, and something do to with unethical business practices. Basically they're in it deep, and they know it.

I've already sold our house and bought another, so I'm out of their hair anyways. MGC screwed me at closing too of course. Charged 300% interest for the 21 days of closing.

Now I get sit back and enjoy while both of these so-called mortgage companies pay out the butt for these lawyers to mitigate these problems.

To comment on class actions lawsuits. It’s important to understand that they’re like winning the lottery but splitting it 1, 000 ways. The lawyers get their piece, and you all split the rest and then take taxes out of it. A million dollar settlement ends of being not a lot of money in the end. And to make it worse, if the mortgage company loses a million, that is enough money to make it worth to them to appeal of the case. They will drag out a huge amount for a very long time.