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Sunny of Pekin IL (05/13/08)
At the end of 2007, our family was going through some financial difficulties due to unexpected medical expenses. We fell behind on our loan payment. I have been trying for months for Countrywide to get paperwork to us for some type of assistance or program to postpone foreclosure. I have just finally received it on May 7. Now I can't get anyone to help me with it and I have to send it by tomorrow or they will go ahead with foreclosure. The paperwork provides a number for assistance with the paperwork but the extensions unavailable. I tried to just get a random representative and they are of no help and they don't even pretend to want to help.
Since this whole thing began, I have been belittled by their employees on numerous occasions, harrassed, hung up on, yelled at, laughed at, implied that I'm a liar, and just simply avoided. I am truly convinced that they do the minimum to give their customers the idea that they are being helped but are not really helping them at all. They promise the help but never give it. I understand how all these foreclosures are taking place now, if Countrywide avoids the customer or just passes them around to a million different people, all of which give them contradicting information, they will eventually be able to foreclose and say that they just weren't contacted in a timely fashion. Quite sneaky.
I am just incredibly upset with the fact that Countrywide is dealing with my life and the life of my family in such a carefree manner. I am not going to fill out this paperwork to enter into a forebearance agreement with them. I am giving up and just going to an attorney. Our family will be forced to sell our HOME. And who knows where we will go from there. I am currently able to make regular payments but am just unable to get the passed due amount caught up but I no longer need the stress that they are causing me. Emotionally, I have suffered. My family doesn't need this stress and I think we are better off without them involved in our lives.
Donna of Citrus Heights CA (05/12/08)
I am trying to get into a fixed rate. My interest only rated changes May 13th. I am able to make the new payment for July 1, however I would like to get a fixed rate to avod the every 6 month jump to where it becomes impossible. However, like most of the US my home is worth less than the loan, especially due to foreclosures in the area.
When I called, I was told I would have to miss payments in order to even be talked to about the program. I have never missed a payment, yet they want me too. I find this a horrible business practice. I am only able to deal with CW on the phone. I am told I ca not go into a regular CW office, they only handle refinance with home equity. SO I gues I'm screwed. The # i have to call and then get a foreign speaking person. It is suppose to be located in Texas. After reading all the horror stories with people dealing with CW I have grave concern. My original mortgage was sold to CW I did not initially apply for my home loan in 2006 with CW. This misleading cutomers must stop. It is abuse on the part of CW to mislead it's customers- NO wonder B of A is buying them out.
1. If I don't make my house payment it goes against my credit scor 2. I risk losing my home to foreclosure 3. The adjusting rate creates a hardship, when if there was equity in my home I would qualify for a fixed rate. In FACT my payment really does not need to be reduced, I just nee a fixed rate.
Paul of Belpre OH (05/10/08)
Last year, my wife and I started to work with CountryWide Mortgage Company for a new mortgage loan. We had figures locked in on their website and when the rate met our request, we started to do business.
CountryWide is notorious for tactics of bumping the rates up as you negotiate with them. We started at 6.00 and with in a few minutes we were at 6.38. Everything was acceptable and we signed on as a customer. We paid for the searches and appraisal. Everything went O.K. until CountryWide sent our entire mortgage portfolio to a yes, Third Party.? This person(s) had our file which contained our: income statistics, current & possible future mortgage info, personal banking figures, outstanding loans and credit card figures, and Social Security numbers. To me, this was the same as identity theft.
The person who received the package called me and told me they had the FedEx package. I went to retrieve it and saw that it had my name but their address on the label. The pull tab had been started but I dont thing it had been looked at. But this doesnt matter, the fact that CountryWide sent our info to a third party that could have opened up the packet and then told everybody they knew what our lifes: finances, SS#s and mortgage figures could have been catastrophic!
When I approached CountryWide, the Ohio manager sent me an apology email and said they would forgo the appraisal fee to make it up. Wow! Thats all they could do? They could have destroyed us and to make it up, a $400.00 appraisal. Of course we went to another bank for our new mortgage. When I asked my attorney cousin who specializes in these matters , he said he knew this was in affect for medical (HIPA) issues but he would have to look into it for consumer affairs. He never called me back. CountryWide is one of the largest mortgage companies in the United States, but someone needs to police these types of matters that can destroy people lives and make the mortgage companies be accountable for their mistakes.
Emotional distress for months. Several hundred dollars over the life of the new loan which is at a higher rate.
Alexander of Corona CA (05/09/08)
Contacted countrywide in mid April of 2008 in hopes to refinance my current mortgage. Tommy was upbeat and ready to help. Once Tommy charged my credit card for over $450 for an appraisal, I have not heard from him at all. I received a package in a mail with my first name and some strange last name that was not even mine. I contacted Tommy over 20 times since mid April until today May 9, 2008 and not once I received a call back from him on status or an update.
1. Lost $450 for an appraisal that I never needed, received, or aware of the outcome. 2. My credit report was impacted with a last name that I have never used in my entire life.
Godfrey of Las Vegas NV (05/07/08)
Countrywide Home Loans has been advertising on the internet at different web sites stating that Refinance Your Home No Closing Cost No Points No Processing Fees No Credit Reporting Fees. Based on this, I had decided to call them about 3 weeks ago.
After speaking to their refinance officer, I found that what they are advertising is not true. There is still closing cost associated with the refinance of my home. They build the closing cost into the refinance fees. Hence, I feel that the advertisement they have placed is a deception to consumer like myself. This is not a fair business practice by Countrywide and I strong believed that these advertisement should be stopped.
After discovering that I was been deceived, I decided not to give my business to Countrywide and I did voice my dissatisfaction to them stating that they are deceiving the consumers with such an ad.
Judy of Mcdonough GA (05/06/08)
I filed bankruptcy in 2002. But I kept my house. Countrywide sued me because I left them out of my bankruptcy. I had to make 3 payments and then pay their lawyer $854. for sueing me. I paid all these fees and the bankruptcy was discharged. I kept my house. Then 1 year later they told me they were going to forclose because I had not paid the lawyer fees. The bankruptcy would not have been discharged unless these fees were paid. My lawyer had the receipts. But I pulled up my statemet from the entire year and their accounting department had used these fees by applying them to house payments, but they did not inform me of this.
So I once again had to pay the legal fees for them sueing me. They informed me that it was not their problem that the monies had been applied in the wrong manner. So I had to pay them again. Now I am up to date on my payments and would like to refinance, since I have an arm that will be upping my payments in 2010. But they don't want to refinance me and give me a set rate. What can I do.
Morgan of Elk Grove CA (05/05/08)
I have been charged $450 for an inaccurate appraisal by Country Wide. The appraiser did not take into account my home was purchased a wrecked forecloser and was then completely upgraded. The appraiser was also from out the area (80 miles away) I have since had a second appraisal and refinanced using the second appraisal. Patricia Cardella King said she would consider this and for a refund but know will not return messages. Thank you
$450
Kristin of Ridgeland WI (05/01/08)
I applied for a refinance loan in March with Country. I was all approved and had to pay $375.00 for an appraisal. Appraiser came and appraised my home. He would not or could not tell me what my home was appraised at or if it all went thru ok. This info is only given to LandSafe and Countrywide. My loan office contacted me and told me that something came back wrong with my septic system!
Of course he would not tell me what and informed me the loan is on stand by: For 3 weeks now I have been calling and calling different numbers, leaving messages with supervisors or anyone to call me back. DO NOT EXPECT TO GET A CALL BACK...BECAUSE YOU WON'T! NOT ONE PERSON WILL HELP YOU OR CARE! I paid $375.00 for an appraisal. I did not just have this money lying around. Now I called and I am told that they can not give me the loan. Each time I call I get a different person and a different answer as to what is going on. This is the #1 loan lender? What is this country coming too?
At this point...I am out $375.00, no loan refinance, numerous phone calls and stress like no other. I feel sorry for anyone that has to go thru this! Know that you are not alone.
Teresa of Anchorage AK (05/01/08)
My experience with Countrywide is nothing short of a nightmare. My husband and I had our original loan through Castle Rock, they sold their loans and it went to AMC, from there, it was sold to Countrywide. AMC had the loan for one month before it going to Countrywide. Thats when it all started. My husband and I recieved a refund check in the mail from Countrywide. The memo on the check stated, ESCROW OVERPAYMENT REFUND. We called Countrywide and they inturn, said it was indeed an overpayment of escrow. We, of course, cashed it and paid off some outstanding debt. A week later, we recieved notification that our mortgage payment had been reduced. A great surprise in a rough time in our financial lives.
Then tax time came around and we recieved notice that our escrow account balance was $0 and since Countrywide went ahead and paid the taxes, we needed to repay them(countrywide). We couldn't understand what had happened and when we told them that they themselves had sent a refund and never noticed that they had actually closed the escrow account without notifying or even asking. So, they decide to send new documents and a new payment of $3215! It went from $2275 to $3215, which we could and can not afford.
So we went to the local office in Anchorage and tried to work with them. They said they were not authorized to modify the loan in any way and recommended we try a loan modification by filing a financial hardship. We did exactly that, that evening. Then we waited and waited and waited. Upon one occassion, I called and asked if we could send in any money, even though it was not the full payment amount it would be something to show we were not trying to escape our obligations. She said no, it would be of no use because since the loan was being worked on the money could not be applied and would just sit in a separate account and do nothing. So we took her advice and just waited. We never heard form the negotiator as they're called for weeks and weeks.
I have called numerous times, and have every call documented as far as times, dates and who I spoke with. Finally after three months, I called and said I wanted to speak with William Garcia's supervisor. That went no where but the person on the phone said they left her, Denise Evans, a message to contact me. Well, the very next morning, William Garcia called. He tells me that he has looked over our financial information and that he noticed that we give a certain amount of money to a church. I said, Yes sir, thats our home church and thats our tithe. He then states that if we weren't giving that money to the church, that we wouldn't be in the situation that we are in. He then goes on to say that unless we agree to not pay the tithe, there is nothing they can do for us. I felt trapped, we didn't want to lose our home so I just said, OK. He then tells me that the outstanding balance of past payments and interest is around $16,000 and wants to know how we will pay for it!
If we had $16,000, we wouldn't be talking. He then states that he will add it into the loan...not to the back of the loan, into the loan. So now, the payments are $2876 (still to much for us to afford) and we are paying interest on interest. How can they do this? We have had to move out of our home and are trying to lease it out. We have found a family to lease it for a year and they are willing to pay $2650 so we will have to bite the rest so we thought we were good to go.
Now, today, Countrywide wants $4000 by May 2, 2008 or there is no deal. I called and asked for an extention and they said no! So they tell me to send in the money when I get it and what will happen is that they will close the current file and when the money arrives, it will get sent back to the workout department and we can go through the process again!!! OK so thats another 3-4 months and since we can't pay anything, the interest and payments (whatever they are) will once again be added into the loan...another $16000.00 How can they even call this a HOPE DEPARTMENT?
I have called almost everyday and never have gotten anywhere. They never return phone calls. I can not go through this again, not mentally, physically or otherwise. We have tapped out our credit cards and have borrowed money from every outside source we have. On a side note, since we have been unable to pay anything because we don't have the full monthly payment, our credit is now in a horrible status and when I asked if they could just re-work the loan to the current low rate (ours is at 7.3%) they said that we don't qualify because of our credit score! They ruined our credit and now we feel trapped and can't afford a lawyer or know where to turn. I truely hope Countrywide recieves everybit that they have dealt out.
Our credit is damaged, our credit cards maxed out, there is constant stress in our marriage, and we wonder if we should go foreclosure or bankrupt.
Andrea of Austin TX (04/30/08)
I had a fixed rate with taxes and insurance included in the price of the home. I just noticed on my bill last night that I owed 5,000.00 on escrow. I called and spoke with them and they first said this HAPPENS to a lot of people at closing. I did not close with them, my mortage company sold to them. Then they say it was my taxes which is bullshit because I have homestead and have been living in my home since 2006, now it's 2008. I asked them if I pay the escrow would my payments gone back to the same they said no. My payment were 734.00 a month which I could afford.
Now they jumped to 1500.00 a month! I went to my bank and now i'm having to refinance and pay 3,000.00 in closing cost and will have a payment of 1000.00 if not more. They refused to help me even when I offered them money to put in the escrow. I may lose my dream house because of this company. They sent NOTHING to me. My payment slip still said 734.00 not 1500.00 and owe 5000.00 to escrow. THIS IS CRAZY! I have no debt, only my car and house with excellant credit. Please help me stop this from happening to someone else.
I may lose my house and car. I am single with no family.
M of Callahan FL (04/30/08)
Approximately seven (7) months ago we fell behind on our mortgage due to work slowing down. At this time seven months ago they said they were going to do a modification. When we sent in the modifaction paperwork we were told it was missing a signature on it somewhere, by this time the date on the modification expired. We were told it was not a problem to just give our financials again to home retention department.
Well after calling and leaving SEVERAL messages to the people suppose to be assigned to the modifaction, we heard NOTHING!! We ended up giving our financials to a total of 6-7 different reps and were told we would hear something in 2 weeks. I in turn contacted the Office of the President for the company and their response was the home was foreclosed and there was nothing they would do because we didnt contact them in a timely matter? I have phone records (home and cell) for the last seven months that shows calls have been made 100's of times since October of 2007. Countrywide has since foreclosed and told us we were out of luck! PLEASE HELP if you can
We are losing our home
Tinarsha of Mountain House CA (04/30/08)
I am a realtor in Northern California. I'm finding that banks are not standing by their word to work with consumers. I've had several short sales that have failed and gone onto foreclosure due to lack of response from bank. I currently have a home that has been listed since 11/27/07 and received a contract for purchase 2/25/08, sent it to Countrywide for approval..
As of today, countrywide has yet to respond. The seller has called numerous times as well as myself. The record their calls and yet the level of customer service is non responsive! A negotiator has been assigned, yet Countrywide employees refuse to provide her phone number or email address. They say that they have passed along my messages to her, but to no avail have we heard anything.
It's frustrating for sellers an, buyers and agents. As an agent we try to educate homeowners in default to not walk away from their home and to try and resolve the issue as best as they can. But, the behavior tends to lean towards the fact that the bank prefers to foreclose. What rights do the sellers have, if any?
Adrian of Corpus Christi TX (04/29/08)
We have had the worst experience with Countrywide here in Corpus Christi, Texas. We were finished with signing papers, the builder and I, on Friday, April 18th, 2008 at 11:00 a.m. We were congratulated and told we were done. At 4:00 the same day, my wife got a great job offer, (better pay, benefits, solid company to work for) and she took the job, after we had signed papers and closed on the loan, so we thought. She called her employer and gave her two weeks. Fifteen minutes after she gave her two weeks, Countrywide in corpus christi calls to verify employment AGAIN when they had already did so two days before. After that, I get a call saying that we will not be getting funded because my wife changed jobs, to a better paying job. We had no bad intentions of lying to Countrywide or trying to cheat Countrywide and do not understand how going to a much better place to work could make us loose a loan. We had already been congratulated and given keys to the house and you all just took them away from us!
The following Monday, I call countrywide and ask if there is anything that can be done. I was told that we could do a V.O.E and a verbal confirmation that she would be employed on the 28th of April. Well we got the VOE filled out and faxed back to countrywide. Countrywide called to verify employment for my wife at her new job. Countrywide asked if my wife was going to be on probation ( which was not told me if that was going to be an issue) and my wifes new employer stated that she was not on probation and she would not get termitated after 90 days if they were not satisfied, it was only going to be a review of her work, and she stressed that it was NOT PROBATION. Countrywide decided not to give us the loan because they said that what my wife was on was probation, even though her new employer stressed that it was not probation.
Countrywide has made one of the most important part of our lives, and the most important decision of our lives, a complete disaster and heartache. It seemed like no one was sincere or sympathetic. It almost seemed like Countrywide was finding a way out from funding us. I have no idea why. Both of credit scores are 730 and 725. We had money at the title company already and money in the bank. This was a total heartbreak for my wife and I hope that no one goes through the pain that Counrtywide has put us through.
Hileng of Menifee CA (04/29/08)
I am doing a short sale with Countrywide, the firs 7 buyers backed out because they could not wait due to long process. I have 3 offers for hext agent that listed my house, the first one backout due to long pocess.We have waited since February 9,2008 up to now Countrywide has not make a decision to accept the short sale.
Countrywide Negotiator called me on 04/26/08 and told me that she will not accept the short sale unless I sign the promissory note that I will pay back the balance owed of $86,000. I told her I cannot afford, our only income if rom my husband's retirement and my $424 a month retirement from an old job and barely making it with our income together. I told her that it's my understanding that the 1st mortgage will pay the 2nd mortgage which is the mortgage insurance of $14,000, she told me that even if the 1st mortgage pay the 2nd mortage of $14,000 I still owe $72,000 and I have to sign the promissory note for her to approve the short sale or she will garnish our wages. I told her how can you garnish our wages when the only left from our money is $100 and I sent that money to my brother and sister who has tuberculosis, diabetes and heart problems abroad so they can buy their medications.
told her my loan is a purchase money and under California Civil Section 580b there is no deficiency judgment against the homeowners for the balance owed. She said the 2nd mortgage is not owned by the lender or investor but by a mortgage insurance therefore mortgage insurance are exmpted to that law that President Bush signed. I told her I think I will write President Bush a letter to amend 580b to include mortgage insurance that they cannot go after the homeowners. I was angry at her and I said things I should'nt say. I emailed all Countrywide Exsecutive Officers and Negotiator and told them that I am cancelling my listing, but the Negotiator emailed me back and said to give him one week to get the money from the 1st mortgage to pay baak the 2nd mortgage and the first mortgage is ordering a 2nd appraisal.
Countrywide already appraised my house by their own BPO. I am afraid that the remaining 2 buyers might back out. I don't know what to do. Can someone, a lawyer mayb tells me if it's true that 2008 California procedural civil code section 580b only addressed the investors and the lenders no deficiency judgment and they cannot sue the homeowners for the balance owed once the house is sold, how about the mortgage insurance, are they exempted from this section 580b. Please, please I need help. I cannot afford to pay a lawyer. I just want a peace of mind. Thank you.
Stephanie of Del Mar CA (04/27/08)
We went with countrywide for a home loan. This is our first house and we were super excited. So, fast forward to a week before closing. We still have not been told what our rate is, what our mortgage will be, nothing!! We were pre-approved for $300,000 with 5% down. A week before we closed, we were told that we had to wait to see how the appraisal went, but it is quite possible it will be listed as a soft market. In that case, we will have to do 10% down instead of 5%. Meaning we have to come up with $15,000 extra money. It was a stretch, but doable.
So we were ok. We thought it was weird that they would change our money down with a week left before closing, but again, we are new buyers, and just assumed they knew what they were talking about. And, of course, it did appraise in a soft market meaning we had to do a 10% down. THEN, 4 days before closing, we got the breakdown of all of the closing costs. This amounted to $9000 extra dollars. So, as of close of escrow, we were going to have to come up with $35,000 extra. this is up from the orinigal $26,000 we were expecting. After saying we were going to pull out of escrow, Countrywide was quite rude and couldn't understand why we were so upset. Did we read through all of the paperwork they sent?
Ok, we NEVER received any paperwork. this was news to us. And why wouldn't countrywide follow up. did you get the paperwork we sent? make sure to look over all of it..etc etc. Oh, you didn't get any paperwork? Let's fix this! No, none of that happened. So, then we told them we got no paperwork and they insisted we did. They had Fedexed it....well, give me the tracking number so I can follow up with them on why they didn't deliver it to us. Guess what, they didn't give it to us. There was never any paperwork. We fully beleive that they held all of this to the last minute thinking that...oh, it's to late, they won't back out now....they will just pay it... So, we pulled out. Now they are saying they will credit us $8000 so that we can still buy it...but now we are reluctant because we don't want to get into a 30 year loan with them with this customer service. This is our first house, and it has NOT been fun!
We are out $5200 of earnest money that we will not get back, $300 for the inspection on our condo, $410 for appraisal, and LOTS OF STRESS!
Bob of Albany NY (04/27/08)
I signed on to the Countrywide site to make a mortgage payment. After accepting my login and password it told me that it did not recognize my computer and asked me a question that I supposedly had used when registering with the site. However, the question that it asked is absolutely NOT one that I ever used. I always keep a record of those things, and I had several questions that I HAD used, but not the one they asked me. Something like that raises a lot of red flags regarding the integrity of my account.
I immediately contacted Countrywide. I discovered, much to my dismay, that not only didn't they have any internet support for their site on weekends (I noticed it on a Saturday), but there was no way to alert them to fraudulent use of my account until Monday. I made several phone calls, asked to speak to supervisors and kept hitting a dead end. It is now the following day and I won't be able to find out what happened to my account until tomorrow. I find the fact that if someone has been able to break into their account system on a Friday night, that no one in the company will be alerted for three days, giving the hacker all that extra time.
Bob of Albany NY (04/26/08)
It appears that my account may have been compromised. I tried to sign into my account. It said that it did not recognize my computer and gave me a hint that I had NEVER given them. It happened on Saturday morning and it appears that they don't handle those kind of questions on weekends. That means there could potentially been massive fraud, including compromised accounts, and they have NO way of dealing with them until Monday when all the damage could have been done. Their security is VERY troubling
As of now, no damage has happened, but I will have no way of knowing that until Monday.
Svein of Eagan MN (04/24/08)
The Short Sale process with Countrywide has been tedious and frustrating. Judging from the other complainants this is not unusual. I am the Realtor attempting to sell the home. The additional work and out of pocket expense with high probability of no sale makes me question the wisdom of even bother taking such a listing. I also know that many of my colleagues shy away from the buy side when possible. Below are some of the email communication with Countrywide and the last contact is particularly interesting. Our issue was that the Work-out? department put our file aside as the home owner was CURRENT with payment and was not looked upon as urgent. If we had decided to stop paying and go the road of foreclosure the file would have received more attention. After numerous calls and several promises of expedited file, we finally managed to contact a supervisor on 4/22/08 that again said he would attempt to expedite, but it would take another 7 days to get a negotiator assigned.
We are now on the 54th day without an assigned negotiator and of course the buyer is threatening to walk. If she does, the home will most likely go into foreclosure to a significant higher cost for Countrywide. You may enjoy all the emails, but at least read the last with reaction from their customer service. From: Lindsay_Swank@Countrywide.Com [mailto:Lindsay_Swank@Countrywide.Com] Sent: Mon 4/21/2008 11:41 AM I am sorry, I am unable to respond to any further e'mails as the company does not allow us to. If you have special arrangements with a negotiator, they have the ability to receive those special situations. I am sorry to inform you that on our side we are not able to respond. Please stop any further to myself or my representatives. Thank you. == If your reps cannot receive e-mails, I will be relaying on YOU to handle this unfortunate mishandled file. Please read the correspondence and contact the appropriate manager to process this file expeditiously. Thank you. ==== My reps are unable to receive e'mails from outside the company. Please refrain from sending any more e'mails to Ms. Jasper, thank you. Lindsay Swank Team Leader, Customer Service === Jaime, Just to confirm our conversation this morning regarding loan # xxxxxx. I have also attached two emails from the home owner to Maureen Tomko detailing the last attempts to expedite this process.
We were promised a negotiator last week Wednesday or Thursday, the latest information given to the home owner was NO LATER then Friday. As of today we still do not have a negotiator assigned and per your comment may take another 24-48 hours. We are now 50 days into the process and even if we get assigned a negotiator today have to expect another 7-10 days before approval. This really is un-acceptable and we are seriously struggling to retain the buyer. FYI, if this buyer walks there will be a good chance the home owner no longer will be able to stay current. The potential foreclosure or deed in lieu certainly will increase the cost for Countrywide significantly. The list price on similar properties are now lower then our current offer.
We ask that you contact the MANAGER and alert them of the situation in hope that this process can be resolved. Hi Maureen, This is Leah writing again about the short sale offer on my property, The account number is xxxxx. Ive called the home retention department many times last week and someone named Mike had assured me that I would have a negotiator assigned by the end of the workday Friday, a day later than you had told my realtor, Svein Household. It is now Monday morning and I called to see if a negotiator had indeed been assigned, but no one is assigned as of yet. Im including my previous email about this situation. I am hoping that you could help me out or forward this message to someone who can help hurry this along. I need to be able to give my buyer some information so that she does not back out of this offer. I would appreciate anything you can do. Thanks
previous email (4/16/08): Hi Maureen, My realtor spoke with you yesterday regarding my short sale application (acct # xxxxxx). It is my understanding that things were not processed as they were supposed to be, and therefore we have been delayed. This has caused a problem for me in two ways- first, my debt continues to mount the longer this process goes on and secondly, my buyer's offer was only good for 30 days and she is now threatening to back out. This is all not to mention that when the application for the short sale was originally received on the 11th, March the associate Svein spoke with told him that all the necessary components were there. However, unbeknownst to me, my pre-qualification expired on the 7th, March leaving the application in limbo until I received a mailing (much later) about the pre-qualification expiration and called Countrywide.
I was not contacted about the missing part of my short sale. When I called about this on the 19th, March I was assured that all of this would be processed quickly as my buyer's offer was only good for 30 days. I am frustrated because I have, in very good faith, been doing my part to settle this crisis in a way that meets both my needs and the needs of Countrywide/Fannie Mae (with the short sale). If this offer falls through, I will then need to apply for a deed-in-lieu which results in worse credit for me and less money for the lender. However, my mounting debt leaves me no other option. I have tried to reach you or your supervisor three times today by calling the main line. Most associates were not that helpful and Mattie was somewhat rude. I finally reached someone who was able to help me and I've left a voicemail for Benjamin Johnson and received your email.
I was told that you all check your email more than voicemail (as do I), so I decided to do both. What I need is a date by which a decision is going to be made so that I can give a definitive answer to my buyer. It will cause me great hardship if she backs out. I would appreciate any special actions or accommodations that can be made, especially considering the oversights on the part of Countrywide. I understand that you were very sympathetic and helpful; I appreciate that very much.
D.b. of Escondido CA (04/23/08)
My home burned in the Oct 2007 wildfires. I notified my Countrywide the next day. I told them I might need a suspension of my payments until I figured out what the insurance would pay for rental expenses. I faxed back the info they required and they said in 20 days I'd get a decision. I waited for over 2 months, calling in every week and was asked to resubmit the same documents. I got concerned since the documents I was faxing contained very personal information. I was starting to worry about ID theft. In January, Countrywide called me to inform me that I was late on a payment. This was true since I had to pay move-in costs for a rental and I just did not have the money. I still had not received payments from my insurance company. The person on the phone did not have a clue as to my situation and once again asked for the same information.
At this point I asked for a suspension of payments that I read about as on option on Countrywide's own website. The guy on the phone said he'd never seen that. The following week, after several attempts to reach my negotiator he finally called me with the excuse that Countrywide took away voice mail and he did not receive my messages. He faxed me a suspension agreement which looked acceptable. I made my late payment and entered into a suspension period knowing that it would not by reported on my credit report, as indicated in the contract I signed with Countrywide. Well, Equifax found out different in less than one month. Countrywide did report the fact that I was not more than two payments behind. They did not consider the payment I made 2 weeks late, they showed that as an extra payment and still showed the original one as not paid. Then, they also showed that I had not made the following payment (during the agreed suspension period).
In the meantime, I got insurance checks from my insurance company, not enough of course to rebuild, without negotiating for more. I go to the bank to cash them and find out the next day that Countrywide intercepted the checks the ones I had were no longer valid) and took them. I try every day to reach the Claims department. Finally I find a local Countrywide office and I demand they help me. They actually do and even admit that Countrywide is so screwed up and they feel sorry for customers. They got me in-touch with a Claims person who said they will be issuing disbursements as needed when I supply them with expense reports. I not happy about that. I feel like I've lost control over what I can do. They also tell me they cannot help with the problem with the negotiations department. It seems Countrywide is very efficient when they smell money and not so much when you ask for help.
For 2 months up to today's date I keep trying 2 -3 times per week to reach my negotiator. The forbearance period is ending and I need to know what to do. I cannot possible pay the back payments until right now and I am nearly out of personal belongings insurance money, Countrywide took all the rest, and I'm still in a rental. I have not gotten very far with negotiating with the insurance company. I make a mortgage payment out of a little savings anyway. I get another negative report on my credit. Today I contacted another agent at Countrywide to ask to tack on the payments during the forbearance to the end of the loan or to the payoff depending on what happens first. I also ask again to rescind the negative report on my credit and lastly, propose that they apply the insurance money OF MINE they took to the balance of the loan and refinance me for the balance to drop my payments way down until I can sell the lot or get more more from my insurance. Apparently they are not interested in helping a fire victim in California rebuild. I get the same story I get every time I call. You need to talk to your negotiator. They try to get him on the call or his Supervisor Jessica Lechtenberg, and they never can find them, and they tell me they will send them an email for me. Nothing even happens.
I am unable to proceed with rebuilding or making a informed decision to not rebuild. I am having to make a hurried decision because I cannot pay mortgage and rental costs at the same time. This means I will not rebuild and I have to sell my mother's house, and join households, to keep from foreclosing on this loan. My mortgage broker tells me the negative credit reporting will affect my ability to get a new home loan in the future.
Douglas of Elk Grove CA (04/23/08)
Lisa had staff research my loan modification. Once this was completed Floretta Childs became my Loan Negotiator. She obtained a 4.25% 30 year fixed modification. The loan amount did not increase. I will make my 1st payment on 5-1-2008
The new loan did increase from $1585.00 per month to $2,202.41. However this new loan does not add an additional $1500.00 to the existing loan balance every month. I would say that my persistant calling and follow insured that my loan received the attention needed to modify my loan. My Chapter 7 Bankruptcy Attorney Liticia Tanner said that all of my other debt will be discharged. I will be able to keep my home. The home is now worth $355,000.00 and I still owe $430,000.00. I hope that over the next few years my property will go back up to the $495,000.00 I paid for it.
Ian of Houston TX (04/22/08)
Coutrywide has changed interest rates on us without any prior knowledge, lost checks that were signed for by their office and stacked penalties against us for their misgivings and poor business administrative duties. The amount we actually owe is now in question as we have recieved two different answers. Once a month we get a letter in the mail stating we do not have home insurance and that they are going to have to start an esgrove of our account.
My insurance representative and I have had enough of that. They make it hard to go about our daily lives and like another complaint stated the stress level of dealing with them is unbearable. We are looking at any body but Countrywide to carry our loan. I would like to ban together with a number of people like myself and give COuntrywide the blackeye they so rightfully deserve.
We are looking at a total of just over $2,000 that Countrywide can not find and that was signed for by Lonestar carriers.
Brenda of Durham NC (04/21/08)
I'm reaching out to all of you in hopes of providing me with a remedy to a situation with my current lender, Countrywide Mortgage. I purchased my home in Durham NC three years ago. I recently over the last two years have been thru a divorce and two layoffs. All the while I was able to continue making my payments until I was laid off in July 2007 and by October 2007 I asked Countrywide to assist me in a loan modification so that I can get back on track with payments. I was instructed to not make payments until the modification was completed and then I was told to NOT be late once the plan was in place.
During this process, which ended up taking THREE months I received calls from Countrywide requesting payment and I had to recant my story each and every time that I was going through a loan modification and that I was told not to make payments until it was settled. I finally started and continue to make my payments on the first of the month now since January 2008. However, I still continue to receive multiple calls throughout the month from them as it seems that internally one department does not communicate with another and they have misapplied my payments as partials. It's a nightmare.
I want to get away from this lender. I am currently employed and am making more than needed to cover my mortgage payments and living expenses. I am in an interest only loan and it was due in February 2008 to refinance the interest only loan. I'm now being told that Countrywide themselves won't or can't refinance me because I was 90 days past due - ONLY because I was instructed BY THEM to not make payments until that loan modification was completed which took THREE Months. I've tried to reach out to other lending services with the new goverment programs and am being told that I have no recourse or ability to do anything due to the 90 days late situation. I'm very frustrated as I thought the government recently enacted various plans that were put in place to assist those of us that desire to keep our homes and have the monetary ability to do so. I've been pushed to the point where I'm now trying to sell my home - even though I do not wish to do so since I love my house and am capable of making the payments. I am also losing approximately $25K on the sale due to the current market conditions.
I'll end up paying about the same in rent as I would in mortgage payments! Throwing my money away with nothing to show for it. Let alone the mental stress of all of this. I just feel that I have nothing or nowhere else to turn. I'm concerned now that they won't even get my payoff correct or timely based on other stories I've read here!
Michele of Gaffney SC (04/03/08)
We got behind one payment on our home. Called to make arrangements and Countrywide worked with us and told us they would put us on a repayment plan. We went through this numerous times- paying $1000.00 to Countrywide on 3 different occasions. ($3000.00) all together. This amount was NEVER applied to our loan! They can NOT explain where this amount went. We kept getting sent to different departments and getting the run around. I then got foreclosure papers. I kept calling until I got someone to help me and they modified my loan. Still THEY could not tell me where my $3000.00 went. Alice tried to smooth things over after I called a local TV station and they got involved. She did knock off some fees we had been charged and sent us about $750.00 back. Still could not explain where the $3000.00 went and why our loan went UP instead of down. We have papers showing where it was, $54,000, and is now $57,000 balance. I have been fighting this for 2 years and can't get anywhere. Can you help us? Every time I get someone at Countrywide I THINK is helping, they either quit, are fired, or are moved to another dept. I NEVER feel like I can TRUST anyone there!
This has caused so much stress in our lives. We are so afraid of losing our home! We have sent money to Countrywide that we did NOT have. We had to borrow it from friends and then Countrywide doesn't seem to KNOW where it is! I know we were late. We called and tried to make things right. And Countrywide took advantage of us. We just want our mortgage credited! This has caused so much stress on our marriage.
Douglas of Elk Grove CA (04/02/08)
Well after 90+ days of attempting a Mortgage Loan Modification, I have once again hit a wall. I attended 3 Workshops and submitted every document requested of me. I was told 3 times that I was approved for a loan modification. Only to be told that I have to wait another 1-2 more months until management and then the investor approve the Loan Modification. Well I don't have the time to wait any longer. I am in the final stages of completing the mandatory Consumer Credit Counseling requirements. And I will have to file Chapter 7 Bankruptcy. Recently vandalists caused damages to my previous property. Since the bank has not completed their Foreclosure, the County of Sacramento, Ca. Code Enforcement officials are set to send me to the Small Claims Court to collect on almost $2500.00 in fines and penalties against me. I was the previous Title Holder not the note holder and real Owner Countrywide Bank. How fitting is that. Add another Judgement onto the already bad credit report I now have.
According to California Health and Safety Code Section 17959.4 the County is not allowed to go after a citizen who is in extreme hardship. I guess being in the final stages of Chapter 7 Bankruptcy is not extreme hardship. However The County of Sacramento has found or created loop holes to allow them to continue causing additional hardships on me that will follow me even after the bankruptcy. Now is that justice or did I miss something? Needless to say I know that my home is now worth $350,000.00 and I owe according to the Bank $422,000.00. However if I can't modify the loan to fit our already stretched budget, then we will be on the streets and homeless in another 90 or so days. Even though I have offered to continue paying my mortgage, the lender continues to stall.
If I was the investor and I knew that the Countrywide Bank Loan Negotiators were preventing Citizens willing to make reasonable loan payments. I would fire them all. At this point anyone who is able and willing to make good on the debt to me is worth working with. Loan negotiators and Loss Mitigation causes delays and are the cause of many foreclosures. I have lost 3 of the 4 properties I once owned simply because of their misleading procedures of the Loan Modification process. The short and simple truth is that Investors have people working for them that have no business trying to negotiate loan modifications. The short time frame a Citizen has to modify their Mortgage is not enough for the games these negotiators play. As a result most Citizens are forced into Foreclosure. The Investors don't have a clue as to what is really going on behind their backs. Most of the Loans could have been saved and we would not be in the mess we are now in.
I will include the home in the Chapter 7 Bankruptcy. My credit is destroyed and I am unemployed at the moment. I will try to move into a small apartment if I can afford to. Get divorced. Pay Child support for another 6 years or more. Hopefully I can find a job that allows me to live pay check to pay check for another 16 years. By them I might get my credit repaired and retire at age 66. I have lost my life savings of 50 years.
Frederick of Bakersville, NC (03/19/08)
When it became apparent that I would not be able to afford my home, I listed it for sale with a realtor in Sept 2007. The home was on the market for 3 months and in that period, Countrywide informed me that a foreclosure was imminent, which I understood. I informed them that the house was listed and they offered me options such as short sale and deed-in-lieu, none of which was a guarantee, which I understood.
I received an offer on the property at the beginning of Jan. 2008 which was very close to the loan amount. Countrywide requested all documentation of the offer which was promptly faxed to them (30 pages of requested documents). Countrywide informed me that this would be assigned to one of their negotiators and could take up to two weeks. In the meantime I received a notice from an attorney that foreclosure proceedings were in force and that a foreclosure sale date was assigned for March 18, 2008. The buyers understood this time-frame and wanted to proceed with their offer.
It took Countrywide until March 1st to approve the sale and by that time (2 full months of waiting), the buyers became frustrated and backed out of the contract. A heated meeting with me, the buyers and our respective realtors resulted in me letting them out of the contract and the refund of their $500 earnest deposit. The house was still listed for the 2 weeks until the foreclosure sale with no offers and the house went up for auction on March 18, 2008 with no buyer.
Countrywide agents told me that my case would be prioritized because of the close time frame. It took them 2 full months to approve the sale. I feel that if they had acted in a priority manner, which they made claim, we would have retained the buyers and sold the home, avoiding a foreclosure which has greatly damaged my credit and financial situation.
Nieves of Miami FL (03/15/08)
I have been a homeowner in the state of Florida since 1989. Regardless of what bank has financed my mortgage, there has always been a grace period of 15 days to pay the mortgage, and I have ALWAYS paid my mortgage before that grace period. Furthermore, I continue to do so. However, recently Countrywide Financial has started calling me starting on the 2nd of each month, two and three times a day, asking for payment. I told the woman on the phone that I was not late with my payment and that there is a 15 day grace period. She told me that they have a right to call me after the 2nd of each month to request payment. I told her I have a right to take my grace period and that I would pay before the end of the grace period as I alway had.
Unfortunately, this made no difference; the calls continued two and three times a day. These calls are harassment. They are calling at all hours: during work, at dinner time, in the early mornings on weekends. It is HORRIBLE! In fact, they are calling even after payment has been received. Apparently, the right hand doesn't talk to the left hand. I can't refinance for two years; however the first opportunity I have, I assure you I will eliminate this harassing company from my life. As a hardworking individual, I know I have rights. Can someone please tell me if there is anything I can do to stop this harasment, or do I have to endure this torture for the next two years? Please help. Thanks!
I am a business owner, and these calls are coming in as I speak to clients and vendors. It is not only embarassing, but they make me look like a financial mess. It is bad for business, not to mention my personal reputation.
Helene of Albuquerque NM (03/15/08)
In November 2007 my little brother Richard surprised us all and died of a massive heart attack. As a result of this, my family immediately had to come up with over $8000 for the burial and related expenses. My folks are not rich but did what they could as did my sister and my in-laws. That said, my husband and I carried the brunt of the burial; and needless to say, we ended up getting behind on our mortgage. We knew this was a temporary situation and that all would be remedied in time, and certainly we've heard that mortgage companies have a hardship or 'death in the family' program for just this sort of thing. Prior to this we were never late on our $2,100 mortgage. We had 700+ credit scores. I wasn't as concerned about the couple months that we were going to end up being behind on our mortgage as much as our credit getting hit. But, again, I know that often there are adjustments for this, so I contacted Countrywide in December.
In the first place, just as so many others here have suggested, Countrywide has completely changed its operations over the past 18 months or so. (They used to be a conscientious bank.) It was extremely difficult to get through by phone. Finally, I just started putting every call to on speaker. The minimum time to get through to a human in the Work Out department was 24 min., and I believe the maximum so far was 38 min. Though one time I left the house and came back, and my end still hadn't reset itself (as it will do a couple minutes after being hung up on) and the call was at a whopping 63 min. of wait.
To continue, I was told in December that I needed to write the official hardship letter, send in financial documents proving we have an income, and docs related to the funeral. I did this all mid-January and was reassured that someone would call me shortly. This never happened. I contacted Countrywide again in early February, and they said they never received our income statement (which was faxed at the same time), so I re-faxed that. Toward the end of February I called again and was told that I had to give them all of our financial information (which was a difficult half hour interview with a stranger in December) all over again. So I did. Yesterday I contacted them again and asked what is going on with my workout program? (We just wanted a modification and had started making regular payments again last month). They said we were assigned a 'Negotiator' on Feb 29, but I was not permitted to contact this person nor would this person contact me, nor would my credit report be repaired through this person. We simply had to wait up to another thirty days for the 'investors' to approve the modification.
Very sadly of course, unexpected deaths occur within regular families such as ours and these can be a genuine and tragic hardship not only gut-wrenchingly emotionally painful day after day, but also economically crushing because mortuaries do not accept any sort of payment plan. Our mortgage is fixed, we were not trying to refi, we have made on time payments, and we have good credit and income and certainly did not deserve to be blown off by Countrywide in this extended fashion that we have. I am going to wait until we can get this so called modification through and then start going after Countrywide's credit reporting department with an attorney if required--though of course I hope it doesn't go that far.
I am further deeply concerned that with all of its legal troubles and investigations right now that Countrywide is going to turn in its 'keys' and walk away from its responsibilities to millions of home owners across the country. My point is that it is up to us individuals to start to control the mortgage industry and market--and not the other way around. We need to start telling these people that we want straight-up, fixed, low-cost, transparent, and reliable mortgages, period. They can make all the stupid money they want off of our credit cards, but our homes are the core of our country. The American Dream. We either take it back, kicking and screaming, or we are really really going to lose it --at least for a long time. Thanks for listening.
Gary of Rhinelander WI (03/11/08)
We had problems with Countrywide from the day that we began the process of taking out a loan with them. After we signed all the papers, my husband and I realized that the payment date that we had set up with them was not going to work for us. We realized at that time that if we could not change the date of the payment, that it would end up being late all the time. Within 5 days of signing the papers, I called the CountryWide representative and asked them if we could please change the date of the payment; and they told us: Absolutely Not. So all of our records indicate continuous late payments. My husband and I had many years of financial difficulties. Every time we would call Countrywide regarding our account, they would tell me that they could not speak to me because my name was not on the paperwork. We repeatedly asked them to add my name, and they never did. In 2005 I lost my job, and my income from my job was used to make the house payment. Immediately upon losing my job, I applied for unemployment hoping that would help to make the house payment. Unbeknown to me, the company I worked for charged me with misconduct which in the State of Wisconsin is an automatic denial of unemployment. (I fought my case with unemployment and won, but this took a long time.)
On January 9, 2006, my husband called Countrywide and talked to a girl named Porsche. He at that time asked her where we stood on our loan. She told us everything was fine. He explained to her that I had lost my job, and she told him that if we sent two payments in January that we would be all caught up. So we made arrangements to send a payment to arrive by January 15, 2006, and one to arrive by January 31, 2006. We fufilled our promise and sent the first check which arrived on January 15th. At that time we did not know that 5 days after my husband had talked to this lady named Porsche, that Countrywide had already foreclosed on us and would not cash our check that they received on January 15th. At that point we were notified that we had to pay all of their attorney costs which came to over $4,000 in order to get us out of foreclosure. They totally denied that they had any record of us talking to anyone regarding our account. We felt we should not have had to pay the attorney fees because we had notified them of our situation--and because we had been told that everything would be okay if we sent the two payments in January.
We then contacted an attorney who told us not to send anymore payments on our house because they would not cash them anyway. So we discontinued making payments. We made so many phone calls to Countrywide to try and save our home, and I am now going to give a list of all the people we were in touch with. I don't know why they kept giving us one person and then another, except that it seems as if we would get one person who was working on this with us, and then either that person quit or got fired. The names are as follows: Sharon Paciulan, Christine McGowan, Julie Mejia, Marlene Cortez, Melissa Kaston, Melissa Castenda, Kelly Lindley,Kelly Burrows and Janean Vincent.
Plus, we spoke with numerous people in the foreclosure department. I even had one lady in the foreclosure department tell me to sell some of my jewelry or have a garage sale to see if we could come up with the attorney fees that Countrywide was demanding. I worked with them for months and months and months trying everything I could to save our home that we had owned and lived in for over 25 years. I talked to their attorney, Blommer Peterman, SC. We sent numerous copies of the bills that we paid every month, we sent them copies of our income, we did everything and anything we could to rectify this situation. But again we felt that because they had told us everything would be fine if we made two payments in January, that we should not have to pay the attorney fees.
Finally we ended up putting our house up for sale. The market in our city, like so many other cities, was very bad at that time, and after 6 months we were unable to sell. Our realtor, Mr Todd Johnson of First Weber talked several times to Janean Vincent also trying to get them to understand our situation. Again to no avail. All they told him was that they would continue with the foreclosure and sell the house. The first notice went in the paper around September of 2006. And of course, it appeared for a few weeks. My sister then called us and wanted to know if we wanted to stay in our home. We of course told her yes we did, and she offered to buy the home so we could stay there. She worked with our realtor Todd Johnson on this who in turn worked with Janean Vincent. At the time we were foreclosed on we owed approximately $118,000.00. My sister began working on getting a loan which tooks months, so the foreclosure was put on hold.
At that time Countrywide began raising the amount they wanted for the home, and it finally reached around $127,000.00. My sister was not able to get a loan for that amount of money nor did we feel she should pay that amount of money for the home because our realtor had said if it sold we would only get about $120,000.00 for it. So we decided, due to no other choice, that we would move. During the process of putting the house up for sale, we cleaned the entire home from top to bottom, painted the deck, cleaned out the garage, cleaned the basement; and when we left the home in March of 2007 we even put anti-freeze in the toilets and shut off and drained all the water because we were so afraid that Countrywide would sue us if there was any damage to the home. We also paid the property taxes on the home while it was in foreclosure which our attorney later advised us we should have never done. I wrote to Countrywide to see if we could get reimbursed on this and once again we were told absolutely not.
In January of 2007 our realtor, Todd Johnson, informed Janean Vincent that my sister was not going to buy the property that was in foreclosure due to the amount they wanted. From that day forward our case got lost. We kept getting paperwork upon paperwork from Countrywide. My sister was able to get a smaller loan and purchased us a small home, and we moved in March, 2007. On June 14, 2007 we were informed that we still owned the property at 1016 S. Oneida Avenue here in Rhinelander. At that point I began to make phone calls trying to figure out why Countrywide was not proceeding with the foreclosure. On June 15, 2007, I called Countrywide and their attorney Blommer Peterman. This is what I was told. CountryWide informed me that they couldn't do anything without the permission of Blommer Peterman, and Blommer Peterman told me they couldn't do anything without the permission of Countrywide. Our concern was that we would once again have to pay the property taxes on the home. On June 20, 2006 I once again called Blommer Peterman and talked to a lady named Mell. She told me that they cannot set up a foreclosure without Countrywide's say so. Once again she advised me to called Countrywide, which I did. They again repeated the same information: that it was up to Blommer Peterman. I then called back the attorney and talked to Mell. She at that time looked up some information and told me that our case of foreclosure was a real mess and that somehow it had slipped through the cracks. She said she knew someone at Countrywide and would call her or email her and get back to me by the 22nd of June, 2007. I never heard from anyone.
We moved out in March of 2007. We left the home in excellent condition. Once again, the foreclosure was put in the paper and was finally done in November of 2007. So from January 9th of 2006 to November of 2007, Countrywide had us under their control; and because our file had fallen through the cracks as we were told, were continuing to send us paperwork. We noticed that a company that had a for sale sign in front of our house and was after Countrywide, wanting my sister to pay over $127,000.00 to re-purchase our home for us so we could stay there--ended up selling the home for $90,000.00. I have folder upon folder of letters from them. I even reported their bad behavior to the State of Wisconsin Department of Financial Instituion. They were very helpful in trying to get Countrywide to answer my many letters and inquiries. Our payments at the time of foreclosure were $1,023.89 per month, the highest they had ever been since we took out the loan in December of 2002.
I could go on and on with how we were treated by Countrywide: How hard we tried to work with them and how we felt this caused us embarassment by them losing our file and once again having to put the entire foreclosure in the paper. I know many people who have suffered probably just as bad if not worse than we have, and the stress that this put on our lives was unbelievable. Thank you for listening.
We lost our home that we had lived in for 25 years. In May of 2006 my husband had to have emergency heart surgery. We believe that the stress of all of this may have had something to do with his heart although he did have blocked arteries but I am sure this whole situation didn't help. We felt bad that our name had to appear in the paper for a foreclosure in the first place, but then to have it done twice because CountryWide lost or misplaced our foreclosure made it worse. We of course had to pay for moving expenses, and due to the foreclosure will never be able to get a loan again. We are now paying rent to my sister who was lucky enough to get a loan to buy us a different house, thank God, or we would probably be living on the streets. The toll that this took on me physically trying to work with these people and doing what we could to save our home was unbearable. And of course paying the property taxes on the home when we didn't even own it anymore was just another hardship for us.
John of Kirkland AZ (03/11/08)
I wanted to get a home equity loan in order to purchase the home next to mine that is going up for auction 4/10/08. I was told by Charles that the loan would require only paying interest in the amount of $175.00 per month for three years, but I could pay more. Had to jump through all the hoops, then finally get the loan papers for a ARM at 7.25 percent. I have excellent credit with a trans union score of 790, and I was not told anything about an ARM. The ARM must be in the benefit of the lender and is not in my best interest. I will not be able to buy the house next door due the the shady practices of these people. They have treated me as though I am some kind of idiot.
Loss of buying the home next door to mine at auction for 20k, time, aggravation, and now stressed.
Marjorie of New Orleans LA (03/10/08)
I had a Countrywide subprime loan that went from $1350.00 per month to $3100.00 last September. I had a life changing event in October that limited me from being able to make the payments. I contacted Countrywide to modify the loan and was told in January that I qualified, and they (1st person I talked to) would send me paperwork within 10 days to fill out. Two weeks later I called again (2nd person I talked to) and was told no, you don't need to fill out anything. Someone has been assigned to your case and will call in 24 - 48 hours. Three days later I called (3rd person I talked to) and was told No, they won't call you, they are waiting on documentation - 1 month pay stubs, 2 months bank statements and a hard ship letter; please fax. I send the papers to the fax number and call in 1 week to get progress (4th person I talked to) and am told they never received it and ONLY HAVE 1 FAX NUMBER FOR THE ENTIRE loss mitigation department.
I spend $16.00 to expedite mailing the paperwork to them and call (5th person I talked to). I am told they haven't received the documents, when the post office says they were delivered. I wait 1.5 weeks and call again (6th person I talked to); they JUST received my expedited mail, but the case worker hasn't seen them yet.They will send her an email alerting her they are there and will call me within 24-48 hours. She doesn't call. I call back (7th person I talk to), and they reiterate they will send another email to her requesting I call--that she will call in 24 - 48 hours. She doesn't call. I call today, 6 days later, and am told by (8th person I talk to) that I should have sent 2 months' of paychecks instead of 1 as I was originally told. I asked to escalate to management and was told they were too busy with other escalated calls. She would send an email to have someone call in in 24 - 48 hours.
I have NO faith Countrywide has any intention of modifying my loan especially since I read they just LAID OFF 10,000 people. Oddly enough, they also planned a major ski trip for all the execs the same time as the layoffs. Can anyone help? How about a class action suit?
Michelle of Aiken SC (03/10/08)
My husband and I contacted them about a refinance. They offered us 5.75% compared to 7.25%, which we were paying. After sending all the documentation they needed, we were told 3 weeks later they needed more info about taxes and salary. They got the info, and I was told we would definitely close before the end of January, so I wouldn't have to worry about making Jan. payment. Well, the end of January came, and we didn't close. I received a call from a paralegal stating we would be closing January 26, and she was forwarding everything to the attorney. The attorney called the next day and said something happened with our loan; we wouldn't be closing. Meanwhile I never received a call from Countrywide explaining anything. I called them first thing Monday morning and was told there was a glitch in the system and to hang in tight--they would keep me posted. A few days later I called them again because they never called me. I was told that tech support was looking into it.
So now our mortgage showed we were 30 days late on our credit. I informed them of this, and they said to not worry about it--just call your mortgage lender and explain. Well, they didn't understand the way Countrywide says they would, so in the mean time I was told we would still be closing within a week. I went ahead and made the mortgage payment for January. Well, now February's payment was due; they said we would definitely close within a week, and that never happened. After leaving messages and emailing, I never heard a response. Finally I was told by Justin that he would send all the info to their FHA dept. FHA wouldn't fund the loan because of the 30-day late showing on our credit. My question was what happened to the original loan? Never got a straight out answer.
In the meantime they had our $400.00 appraisal fee from the beginning of January. How many other customers were they also drawing that money off their interest? They have ruined my credit as far as refinancing with anyone for at least a year or two, they don't have good business ethics, and I would love to see them go out of business. I have been told by some people that Countrywide is awful to deal with, but I figured I would give them a chance. BIG MISTAKE! They are sending us our $400.00 back, and we are done with them. I guess we will have to struggle through the credit issues, but our present mortgage company is wonderful and willing to work with us. Before all this, and after--we just wanted a lower interest rate.
Our credit is showing 2 months' late due to a closing that never happened.
Carolyn of Westfield MA (03/10/08)
I have had a mortgage with Countrywide for almost 5 years. This is the first place I have owned on my own. I noticed over the past almost 5 years that my payments have gone up. I have a fixed rate at 5.625, and they have been taking care of paying my taxes in my payment. I know taxes have gone up, and I have never complained about the monthly payment, even though I struggle on my own and pay a condo fee as well. This February 2008, my payment went up $70 more a month, which caught my attention as my newest tax bill from the City for 2008 is only about $84 more per year! I called Midge Roy, and she seemed very concerned--telling me to call my City tax representative and the Escrow Dept. at Countrywide. I did that and found out I am not in arrears, nor have I ever been; my tax bill isn't even $100 more in 2008. Then I spoke to a representative at Countrywide, and she said she could lower my monthly bill by about $41. I asked for an explanation, and she said these are projected figures on taxes. My tax person said he could send a statement to Midge Roy proving what my yearly taxes could be, so I told him to fax the info to her at fax# 413-586-3263.
I also spoke to a Sandy a supervisor in their Plano, TX. I haven't heard back from Countrywide as I was supposed to. I was supposed to receive a letter from that supervisor, breaking down my charges. Now that I hear about the fraud charges, I think I am a victim.
I am a single person, I have an equity loan with them, as well, and I am not able to pay this additional amount per month. I have already cut back on my cable and can't spend much on food. I have to have gas to work, as I commute about 51 miles per day. I am not able to keep up with all the inflation!
Marcy of Albuquerque NM (03/10/08)
It was a snowball affect that forced me to seek refinancing. My credit isn't great, but not bad. I went to a broker who assured me for three months that they would and did have a lender. In the meantime, I was told to stop making mortgage payments to Greentree. Countrywide had all but approved my loan and had my home insurance transferred to them, without my consent or knowledge. Loan fell through. Greentree has been at my door for two months' past due payments and late fees; insurance dropped us and refused to reinstate until back due payments made up.
My husband is retired and also on disability. Trying to make up payments caused us to get further behind, even our car was repossessed. Foreclosure was begun by Greentree. We tried to work out something, but like other stories I read, our original contract was through Conseco who was bought out by Greentree who are ruthless. They began foreclosure, and charges after charges kept mounting up. We tried other lenders, but because our broker kept trying to get us refinancing, every time she pulled a credit report, our scores dropped until they were so low, no one would touch us! My mother had recently passed away, her house borders our property and was small, but no debt on it. I was forced to sell it to my son-in-law for way below market value just to pay Greentree to stop foreclosure and get our only means of transportation back. Also tried Lending Tree, talked with several brokers who guaranteed they could help--only to be told at the last minute they couldn't.
The nightmare is still hanging over us. Even though payments have been on time for over two years, if I am a minute late due to mail or whatever, the harassing phone calls start. My health has suffered and am under doctors care for stress and have been told I am a walking stroke waiting to happen. The American dream is a lie. We aren't free. If you can't pay your house payments, no one helps you, you can't pay your taxes--the wolf takes your home. If you can't pay utilities, they turn them off; you can't even afford to put gas in your vehicles. Our golden years are our blackest years. Rich get richer, poor get poorer. And there is no longer any middle class.
Heather of Buford GA (03/10/08)
I am paying an extra $300/mo PMI on my COUNTRYWIDE loan. My LTV is at 76%, and they continue to tell me that it needs to be at 75%. They do not explain, they basically say just "because". My loan is not considered high risk, and I have never been late on a payment. What can I do?
Eventually, the HUGE payment is going to catch up to us, and we will be in the same boat as everyone else....foreclosure.
David of Largo FL (03/09/08)
Mr. Mozilla, Countrywide and most likely other major lenders should be held personally responsible. Personally I was taken advantage of at a time when I was going through a divorce and job layoff. Consequently I became almost 90 days late on my mortgage in 2005. At the time, my property which I had owned for 16 yrs., had over $60,000.00 of equity, and I was working 3 jobs to make my mortgage payment with a 5.9% intro interest rate (2/28). The loan was one month from resetting. I had called representatives from Countrywide to ask for assistance . My loan also had a prepayment penalty of 6 months interest (cost $10,000.00). Countrywide told me that I would have to pay the amount in Default (3 months) before they would re-do my loan. I finally gave up on them, and they threatened to initiate foreclosure proceedings. I searched the WEB to find a Mortgage Company that would help me. I got in touch with Kastler Point Mortgage of Laguna Hills, California. This company went through the back door and was dealing with Countrywide. This turned out to be very costly although I was able to keep my home. Countrywide put me in a 10.9%, 30-yr fixed on a 228,000.00 loan. The settlement charges included my 3 months of missed payments, $10,000.00 prepayment penalty, and Brokers fees and closing costs. My appraisal at the time was $300,000.00 and I owed only $178,000.00.
After all the ordeal I went through, I now owed Countrywide $228,000.00 (10.9%, 30 yrs.) The broker from Kastler Point had initially told me he had an 8% rate and that after a few months I could re fi again at a better rate, no charge. They also placed a new 3-yr. prepay penalty (keep in mind I am at 10.9% here). My payments went from $900.00 per month including taxes and insurance to $2100.00 per month not including taxes and insurance. In fact, when I was dropped by my insurance carrier (Florida Insurance debacle), Countrywide forced their own Balboa (part of CW) Homeowners Insurance on my property at $3200.00 per year--2 times the amount I was paying before and paying presently.
Now my payment has increased to $2500.00 per month. After dealing with all this, I lost another job and went on to re fi again. I was first pleading with Countrywide; they knew I could afford 1800.00 or so per month but would not budge to reset my mortgage. I ended up getting an 8% loan with First Franklin and $1800.00 pymnt. It's a struggle still. Countrywide again hit me with a prepay $8000.00 to get out of a 10.9 to a more favorable loan with another company. My home was stripped of all remaining equity with closing costs 2 x 2 prepayment penalties and other related costs. While MR Mozilla and Countrywide execs play golf and work on their tans, it's at the expense of people like myself. This is the reality of what happened to many, many people including me, I now owe $255,000 on my home and it's worth less. They took the cream off the top--my nest egg, sort of.
Financial cosequenses and stress and possible forclosure
Douglas of Elk Grove CA (03/08/08)
I have made multiple complaints to the consumer affairs office. Over the past 27 months you have done nothing to help me. I have lost all of my investment property, and I am now facing bankrupting very soon. Your organization is simply a lip service. You have no authority and are a waste of tax payers' money. You should shut down now and let the government start a new program that actually does something other than nothing. The respocne from all government agencies is the same. We only go after large companies. We do not represent the people. Hire an attorney. You're a waste of time and money. More like talking to a blank wall.
My attorney will file bankruptcy documents on March 20, 2007. I will be collecting nothing as I was a business owner prior to filling bankruptcy. Also I am told that my Social Security will not be paid to me because I will have to pay the Government back for recapture on the properties I have lost to foreclosure, taxes, penalties and other fees that they can come up with. We are never free in this country. If I could afford to leave I would. But the government has made sure I will always be in debt to them. My mother is 70 years old and must work to pay her monthly bills as she did not receive a retirement after 50 years of working. Her social Security check is a joke. They will be on the street soon, too. SHAME ON AMERICA! As for our health. Well I am sick all the time from worry!
Laurie of Womelsdorf PA (03/07/08)
After we fell 2 months behind on our mortgage the middle of last year, I called Countrywide immediately to advise them of our situation and to see if they could provide us any kind of assistance. At first, they were very understanding and gave me a couple of options, one being to apply for a workout program and loan re-modification. I did everything they told me and sent them all the information they were requesting. That was the beginning of September, 2007. I kept in touch with them consistently to check the progress of my request. By the end of September, I received a notice in the mail from them stating that at this time they could not approve me for the workout program (no reasons specified), and they were going to start foreclosure proceedings.
Horrified, I called them immediately. After speaking with several customer service representatives, they advised me that they had information missing, and I should reapply. I reapplied 10/5/07. Again time goes by...no response. On 10/31/07 I call customer service again. I'm advised that they apologize for the delay, but I was approved for the workout program finally, and a negotiator would be in touch within 21 days to advise me of my options. I'm given her name and number and told to wait. Awesome right? Well, the weeks start to go by and then months...no answer from my negotiator or anyone else at Countrywide. By the end of December, I can no longer get through on the phone. I am at my wits end. Unsure where to turn and at this point, a sale date has now been set on my home for 3/7/08 and embarrassing notices are being posted on my front door.
Each week, I call Countrywide. I can get through to their Home Rentention department, but no one can transfer me to my negotiator--the only person who can make decisions. I leave message after message, and no one calls. I talk to supervisors to no avail; they cannot help. They send urgent emails to the negotiator to call me and cc her supervisor...still no response. Finally after tons of calls, I'm told that my original negotiator is no longer with the company, and I'm given another name and number for my new negotiator. So I call and leave her a message to call. More time goes by, and we're now in February with a sale date in March--just weeks away. I'm no closer to getting resolution, and the fear of losing my home has become a reality that scares me. I failed to mention earlier that I am pregnant (6 months along at this point), and I feared I wouldn't have a home to bring our new son home to. Panicked, I call Countrywide, daily at this point, and still no one can help.
I see online that the government is offering more help to homeowners facing foreclosure. They give a number for a non-profit company, and I call. I explain to them what is happening, and for the first time in months I get a glimmer of hope that someone can help me...finally. They are very nice, and they call Countrywide with me on in a conference call. The representative gets right through on the first try, no waiting on hold for 45 minutes just to get a live person. We explain the situation, and Countrywide apologizes yet again. We found out that the second negotiator is also no longer with the company, and I'm given yet another name, Gina Williams, as my new negotiator. We leave her a message explaining how close the sale date is, and they cc her supervisor as well. I'm excited; I think we're actually getting somewhere and that I can get this all stopped. Gina calls me back after a couple more weeks go by and some more calling on my end. I'm advised that I have to pay $4500 towards the legal fees to postpone the sheriff sale, but she doesn't tell me what a loan remodification amount would be. She also asks if I have access to that kind of money. I advise her that I wasn't sure, and I'd have to check and call back later that night.
We are now just 2 weeks from the foreclosure date. I call my in-laws to see what they can do, but without knowing if we can even afford the new mortgage payment, we're skeptical of just forking over $4500. For the first time, we come to the realization that we are not going to be able to stop the foreclosure. Countrywide has taken too much time to get back to us. So, we call a bankruptcy lawyer to see if we have to file bankruptcy to stop the foreclosure. I argue with Gina that I shouldn't even have to pay the legal fees since I was calling them BEFORE this all started. She doesn't care, says there is nothing she can do, they aren't their fees, it's the attorneys fees. With a week until D-Day, I'm finally advised that my new loan (if I pay the $4500) will be over $1000 per month. That would mean over $150 more each month. We just cannot afford that. I keep calling that week trying to see if they will negotiate at all. After all, they're going to lose big time if they take my house. I owe far more than they will ever get for me house. I get a customer service rep who tells me (and notes my account) that they will postpone the sheriff sale since we haven't come to an agreement on the workout program.
My husband works for the Prothonotary's office in our area; they don't get any paperwork advising the date has been postponed. I call again; turns out she was wrong. They aren't postponing the date, and we have no more options. With just two days until the sheriff sale, we file Chapter 7 bankruptcy. We have to walk away from the house. I'm now over 7 months pregnant and have to move just because one company couldn't return my calls in a timely manner and I've been forced to file bankruptcy. Since we filed bankruptcy, it does postpone the sheriff sale, but only until 5/9/07. It will at least give us time to find somewhere to move.
Foreclosure/loss of home/bankruptcy.
Matthew of Naperville IL (03/07/08)
I inquired about entering into some type of program through their workout group with regards to my home mortgage. I have been unemployed for a while now, and things are just too tight right now without an income. I followed up and supplied them with all the requested information, waited 30 days and didn't hear anything. I specifically asked if any part of this process would affect my credit, and each person I spoke with answered NO! I spoke with them this morning and was told that not only was I sent to the wrong group, but the new program and group they were sending me to would negatively affect my credit. I am now left without any solution to this mortgage mess, and it is their lack of communication throughout the process that has put me in this position.
I am now in over my head, followed their recommended process, and supplied them with all the information they requested--and they just still offer no help.
David of East Brunswick NJ (03/07/08)
LIARS & POOR CUSTOMER SERVICE! First, they promised me the WORLD! As a second-time home buyer, I was buying a house by myself. They told me I was approved for more than I thought. I was told they can do magic and get me what I wanted! Ok..so $12,000 later just to get started, I was stuck with TWO mortgages on a $320,000 house! BOTH mortgages were locked in, one at 6.75% and the other at 11.50%! Oh yeah, they took care of me alright. NOW, due to a lying, I have to sell the house. So they approved me for a short sale, and this whole time, my realtor waits 45 minutes, MINIMUM, to get answers--and the few answers he gets are COMPLETELY different from each person! Now I'm faxing the same paperwork every other week because EVERYONE THERE IS CLUELESS!
They said call within 30 days. We have religiously called them and got NO FURTHER than day one. I seriously hope this company files under Chapter 11 soon! A COMPLETE WASTE! DO NOT BOTHER WITH OR BELIEVE THIS COMPANY! DO NOT TRUST THEIR ASSOCIATES EITHER: THE BALBOA COMPANY HAS RIPPED ME OFF AND RUINED THINGS AS WELL!
My credit has diminished several tiers! I went from excellent to FAIR because their incompetence and lack of care about their customers! I will be making a complaint to every possible entity that covers Countrywide. DO NOT TRUST THEM OR THEIR ASSOCIATES! THIS GOES FOR BALBOA INSURANCE AS WELL! I ALSO LODGED TWO FORMAL COMPLAINTS!
Douglas of Elk Grove, CA (03/04/08)
After going to their workshop, we were told that Countrywide Bank would reduce interest rates and negotiate with homeowners in the Sacramento area. After multiple calls and sending over 40 documents I was told that they did not intend to negotiate.
The end result is that the banks continue to force people out of their homes rather then negotiate a reasonable way to stay in their home.
Dan of Tampa, FL (03/04/08)
Every year I don't receive my year end tax statement. This year is no exception. My online account has been blocked and they won't send my new password. I've sent letters and made phone calls but I still don't have my tax statement.
I have a refund coming and the longer I have to wait for this one document the longer I have to wait for my refund. If I don't receive it soon my tax return will be late and I will have to pay fees.
Luis of Broadview Heights OH (03/03/08)
I have been in foreclosure with Coutrywide with no sale date set. After two years on the market I received an offer on the home that was short about $5000.00 or less from payoff amount to Countrywide. Contrywide initially told me it would take 4 to 6 weeks to process and come to closing. 45 days later the negotiator by the name of Raymond, would not return my multiple calls, and no one else could tell me what is going on. The title company and my buyer have been ready to close for weeks and now my buyer has lost her rate and is talking of backing out and the sheriff has set a sale date for my home. HELP anyone
Wendy of Debary FL (03/01/08)
I would like to know why the article dated 2/12/08 stating Countrywide to partner with ACORN and work on a plan to help distressed borrower's avoid foreclosure, means. I have recently lost my job, fortunately have found another, but am not making anywhere near what I was making. I called Countrywide, 2/20/08 and spoke with 4 customer service people, 2 that worked in the work out dept. and one being a supervisor. I explained that I could not make full mortgage payment anymore and needed to split payment. I wanted to take total amount owed for the year divide by 26 and make a payment every other week. Countrywide would still be getting same amount of money, but would be paid out differently. They told me there was nothing they could do for me. Now, I am forced to split payments and have late fees tacked on, until I can make second payment. I am sure that is their plan to make more money off the consumer. According to this article, the plan is supposed to help fixed rate mortgages as well. I have to say as long as you make your payments on time you are the golden child, but God forbid you have a catastrophic event you are treated like an outcast.
Countrywide is not the only creditor that would not help me. Of all the creditors I have, there is only one that would work out a payment arrangement. If you wonder why people are forced to file for bankruptcy, it's because these creditors force you there. Where is the government and why aren't they stepping in to make this deplorable situation right? It disgusts me that Countrywide will take your money as long as you pay on time, but if you can't they are more than happy to take your late fees and over the limit fees without batting an eyelash. If I read this article correctly, they should be able to help me out; and I want to know why they are not.
I have experienced undo stress trying to juggle and make some type of a payment to Countrywide and my other creditors. In this time economical breakdown, these companies should be helping the consumer, and not one has stepped forward to be proactive in getting plans in place for people to afford to pay their debt.
Branden of Elk Grove CA (02/29/08)
After calling at least 10 times prior to our ARM mortgage adjustment in September of 2007 to get some sort of idea as to how much our payment was going to increase, I got nowhere fast. The customer service reps repeatedly told me that it depends on the prime rate at the time of the adjustment. When our September 2007 statement came in the mail, my wife and I were shocked to find that our APR had jumped from 5.8% to 8.8%. On a $370,000 mortgage, that's a difference of over $800.00 a month! Since the value of our home had declined considerably in the two years since we purchased it, refinancing was not an option. We had no choice but to pay the higher amount, and we did. Until June.... On June 1, 2007, our baby boy was born. The expenses associated with having a new child combined with our new payment amount left little left to pay our credit cards and other bills. Faced with losing our home, we contracted with a debt negotiation company in an attempt to bring down the debt we owed to our creditors. After a few missed payments, most creditors were completely willing to work with us to bring our balances down, provided we made timely, monthly payments to them. However, there was one bank located in America that would not work with the debt negotiation company and demanded payment in full. Over the course of 3 months we had to come up with over $5000. Fine. We made the 3 payments of $1900 dollars until BoA was paid in full.
While all of the activity with the debt negotiation company was taking place, I was placing daily calls to the Countrywide workout department to get an update on the status of our workout. CW agreed to the workout after we submitted bank statements and a list of our monthly financial obligations to demonstrate that we could not afford the 8.8% interest rate on our mortgage. After 4 months in the workout process, we finally received the paperwork from Countrywide that we had been waiting for. We were shocked to find out that they agreed to lock in the interest rate of 8.8% for five years and they added $8000 in taxes to the mortgage. After three years of making payments on time, we now owe more on the house than we did when we moved in. Since the workout process was started because we could not afford the mortgage at 8.8%, how is locking in that rate for 5 years helping? If they would just agree to the original interest rate, we will be just fine. If not, we will be another casualty in the Mortgage Meltdown. We would sure appreciate your prayers and well wishes.
If Countrywide is unwilling to lower our interest rate, we will lose our home. This process has added an unbelievable amount of stress to my wife and I. If it wasn't for the fact that we are fortunate enough to come home to the most wonderful little baby boy, I don't know how we would make it. It would be a shame to lose our home over a few interest points. It is very unsettling to know that Countrywide was planning on treating 30 executives to a very expensive ski weekend at the Ritz Carlton in Acorn, CO, but they are unwilling to help families like ours. My wife and I are both educated, productive citizens who want what many, many other people want. Is it too much to ask for a stable, household in which to raise your family in? I wonder how many percentage points that ski weekend would have added up to?
Oleg of Honolulu HI (02/28/08)
I applied for refinancing with Countrywide on December 8th, 2007. I have excellent credit (720+) and have no late payments or other problems. I have paid for the appraisal and requested to close the loan by January 1st as my monthly payment would go up by $600+ . Today is February 27 and still the loan is not done after 2.5 months of delays. I have asked Mr. Johnson several times to provide me with a copy of appraisal report but my requests were ignored. I am very disappointed in such terrible service and I will never do any business with countrywide.
This month I have to overpay $600 for the 2nd time for my mortgage payment because Countrywide did not do their work and made me wait for 2.5 months.
Clay of Solana Beach CA (02/28/08)
Received my latest statement and it is a hundred dollars ($100.00) more than I have been paying on a fixed 30 year loan for three years now. Looks like half of that has to do with a property tax increase on the statement (tax is impounded on our loan), but their is no other explanation on the statement concerning the other fifty dollars ($50.00). I did reach a rep three days ago and he advised that he did not know why, but I was liable. I have tried to call Countrywide 800 number for an explanation, and they have an automated system that makes you think you are being connected to a live agent with music on hold, but then the system comes back, asks another series of questions, and it is obvious that their system is designed to waste your time and not speak with you personally. The system is actually designed to mislead, misrepresent, and discourage. In the last two days after pushing more than 50 codes and voice commands in each call lasting 15 minutes, I was finally connected each time to a message that states the office is closed during business hours posted on their site. I started making calls today to other lenders to take my loan elsewhere.
Damages include loss of a quality in life on my own time with my wife, Church, and those in need. It is also costing me at least $50.00 more a month without an explanation. I think it is dishonest and no wonder why our Great Country is challenged by housing and credit crunches. Lenders like Countrywide started the problem, and they are in fact making it worse by ignoring and charging good customers with unknown charges.
Kristen of Coram NY (02/25/08)
I am trying to refinance my home and have a $12,000 prepayment penalty that I was unaware of. The problem is I am currently in a Neg Am loan which is basically building negative value on my home. I can barely afford the new rates, and my credit is good, so I am trying to save it. Countrywide told me there is nothing I can do, that the loan is backed by a private investor and he has to okay any changes. The other problem is they can't get in touch with him, and I am not allowed access to his numbers. I am constantly calling and trying to work this out. I have asked for a modification on the loan, and they told me it was not possible. My loan documents are a complete mess, as one paper says there isn't a prepayment penalty, and another says there is. Countrywide is saying the one that says there IS a prepayment penalty is the only one that counts. How can that be?
am going to foreclose, if I can't solve this soon. They need to take responsibility--not to mention my new loan is waiting to close. It is a fixed loan at a low rate, the one Countrywide said I couldn't get. I wish foreclosing was the option because it would really mess them up. My house is already at max on the mortgage because I bought when the market was high. I would love to leave the house with $100k in damage and really cause them issues. Too bad that it would ruin my credit that is really good. Please someone help me. Oh, did I mention my broker is out of business too? Go figure! I think we all need to unite and sue these people. They are the reason our economy is the way it is. Good luck to all of you!
We are loosing the equity in our home, and fast. We are using our credit cards to allow our cash to pay the mortgage, and now our credit cards are maxed. We are at the end of our rope, with no end in site. We need help against these companies.
Michael of Marlton NJ (02/25/08)
I recently refinanced my mortgage, not with Countrywide who my original loan was sold to. Everything went smoothly until it came time for my escrow refund. Countrywide decided to pay PMI from escrow after the loan had been paid off in full by the new mortgage company. I received the refund check that was short the PMI. I called Countrywide twice on February 25, 2008. Their customer service reps informed me that PMI is paid in arrears and continued to insist that this is the way it is with all mortgages. I had them pull up my original Settlement Statement and asked them to look at a specific line that states I paid two full months of PMI at closing. They still continued to inform me that PMI is paid in arrears.
How can this be, if I paid at closing on November 10, 2005, the first two months that would cover my mortgage until the first payment that was due January 1, 2006? I have a printed copy of my escrow account from Countrywide that shows they started taking PMI from escrow from day one of payment, which was January 1, 2006. It should also be noted that the payoff was January 30, 2008; the refund check was printed on February 12, 2008, and the PMI was paid on February 14, 2008. Can someone please explain how they can do this?
I just want my money that I paid into my escrow account.
Deborah of Cape Coral FL (02/25/08)
We refinanced our home in Jan of '07.We made two payments to Bankers Express Mortgage. Then we were informed that our mortgage had been sold to Countrywide. This was the beginning of all our problems. We received a notice telling us we had no payment. Skeptical, we both called and were told no, you have no payment until June '07. I made a payment in June via the website only to see that I was 30 days past due. I have repeated this story to so many Countrywide representatives, and every time got a different answer. All of this was sent to their research dept. We were accused of NFS when we had not written any checks to Countrywide.
They don't return calls, the reps are rude and don't know what they are doing. In October of '07 we applied for a modification on our loan. No one calls when they say they will; they reported us to the credit bureau when they said they wouldn't. They also told me not to make a payment until I heard from them in writing; to this day I have heard from them. Most recently, (February '08) we were told the policy changed, and we could make a payment while waiting for approval. This continues to be a night mare! When people are struggling so hard to keep their homes and want to pay, we are treated like low life. I just want to work something out so that I do not lose my home. If anyone can help please contact me.
As I am sure other folks will tell you that have had similar experiences, this causes great mental anguish and great fear of homelessness. This is where I am raising children and want to reach some resolution.
Miguel of Miami Springs FL (02/21/08)
I purchased a loft pre-construction price at $350K. The appraisal seems to be inflated as 2 of the units that were in my same building which were being used as comparables did not have a sale date and thus it indicated one the appraisal under sale date PENDING SALE. The other comparables are no where close to the style of my loft. One of the comparables states that it was sold for $360K but when I pulled the information online it looks like the sale amount was really $600K. The other comparables had a larger square footage.
Seems to me that now I can't sell the condo for what I paid, and therefore I am finding myself to either giving it back to the bank, or doing a short sale which is likely not going to happen because the building is a total disaster. All of the amenities that the developer offered at the time I signed the contract are non-existent.
I need to know who is having this same problem especially with Countrywide and the Condo Neo Vertika as I would like to know if I have a legal action against either of them or all of them including the developer.
I will either have to turn the condo back to the bank, which will not only ruin my credit but also lose the $50,000 I have invested in the unit.
Samuel of Pateson NJ (02/19/08)
I presently am in the process of refinancing my first mortgage with Chase Bank, leaving Countrywide to get a better rate. Countrywide wanted me to pay for a subordination which I did, and they are still stalling the entire process. Now their excuse is that I have 2 late payments to them--that's why they are declining the subordination. Late payments are not my fault; it's theirs. They claimed my checking account did not exist, and they verified that it did exist. They had the correct account info.; it's all in their notes that I discussed with them back in November and December of 2007. I'm not taking any cash out, just trying to get a better rate is to save some extra money a month. But I'm being held up on a mistake that they made.
This is not fair to me at all. Now they want to wait 5 days and review, and then charge me another fee to start this all over again. That's insane! Resolution Sought: I would like for them to let me procede with my refinance with Chase Bank for a better rate so I can be done with Countrywide once and for all. They need to correct my credit rating, as well since, it was an error on their part in the first place--claiming that my checking account did not exist ,and it does!
Laura of West Roxbury MA (02/19/08)
My husband and I purchased our first home in 2004 for $275,000.00. One year later, our mortgage was sold to Countrywide. Our home had appreciated a little bit in this meantime, and we decided to refinance and use the equity to pay off some bills. We had a pre-pay penalty with our original mortgage, and the Countrywide representative told us that the only plan available to us was one with a variable rate. He advised us to go with the plan, claiming we would be able to refinance it before the first reset. It didn't happen. With the housing crisis, the value of our home depreciated, and it's now around $250,000.00. The variable rate went up in Sept/07 from 6% to 8%, a $500 increase. We have been current with our payments, but barely. We have called Countrywide numerous times asking to work with us and change the variable rate to a fixed one.
Last month we applied for a loan modification with their workout department, and last week they told us we were declined. My husband asked why; they said because we have too much credit card usage. We have been using our credit cards to save our cash to keep up with the mortgage payments. We have fallen behind in our credit card payments now, and my husband's credit is ruined (is about to file for bankruptcy). The only thing we have now is my good credit, which I have been fighting frantically to keep. The variable rate is due to reset yet again next month from 8% to 9.5%. When that happens we will no longer be able to pay our mortgage. We need help. We don't know who to call and where to go to get help. I think Countrywide should be held accountable for their actions.
Crystal of Sumter SC (02/15/08)
PLEASE CONTACT ME. THIS COMPANY NEEDS TO BE HELD ACCOUNTABLE. The Countrywide economic crisis must be an internal money-spending problem. I have been disputing my account with this company for nearly 12 months. I can provide canceled checks and all paperwork for any and all records on my behalf. The pay history sent from COUNTRYWIDE does not match the amount of my canceled checks. Inspection fees in the amount of $642.00, Advance fees $3202.36, Exclusion Fees $575.00, and many other fees (call if you want others) in my account have never been right. My account over the past 5 years has paid out thousands in fees and investor costs that cannot be accurate nor will they explain. Three representatives at Countrywide have all stated my account doesn't look right.... I NEED AN ATTORNEY TO PLEASE CONTACT ME. I HAVE THE PROOF.
It appears they have mishandled funds and have added fraudulent fees they cannot and will not explain.
James of Manistee MI (02/12/08)
i took a refinace on this home and then a equity for two years now i have been paying them without any late payments and when i took the equity loan i had a appraisal done to get it and it appraised at $340,000.00 and i owe $333,000.00 country wide told me if i paid one full year on this they would rotate it into one loan, need less to say they got $23,000.00 aper year from me for two years now and they said they cant put them into one loan because my debt to ratio and my home no longer appraises at $340,000.00 and i am getting ready to let it forclose as i have been using my credit cards to keep up with the payments and i can no longer do that either i tried at least 15 banks to refiance and i cant one of the guys i spoke to at countrywide said that the guy i went thru is no longer there and he put in to get me the equity that i made $152,000.00 instead of $52.000.00 that is why my debt to ratio is off, but he also told me there is nothing they can do as that don is no longer with us because of that.
alot of stress at work and alot of credit card debt and i dont want to file bankruptcy, and keep worring how to support my family.
Melissa of Sacramento CA (02/11/08)
In 2005 we called Countrywide to refi and pull out some equity to pay some other bills. They convinced us to refi our second into a HELOC. We only asked for about $15,000; however they processed our loan docs for WAY more, taking our loan to value ration up to 97%. At that time our home appraised high at $327,000, I think. So now we owe $297,000 altogether. I told the loan officer we didn't want that much; he said I could cross off the amount, and change it on the loan documents. Of course, I didn't--thinking we could use the extra cash and still had plenty of equity. Then the market changed in 2005, and the value has gone down to around $250,000. So we can't refinance... and we're stuck in an ARM. Our payments have gone up twice so far, about $700 a month.
I've been calling Countrywide since last summer, before the first rate adjustment, to see if they'd work with us. It was impossible to get in touch with the right people since our loan was current. I had to default just to get in touch with the workout dept. We applied for a loan modification in October and are still waiting to see if it'll be approved. I haven't made a payment since then. They advised us NOT to make a payment while it was being considered for a modification. Now, they've reported the 60+ day late payment to the credit bureaus, and our credit scores have dropped about 150 points. Our credit card companies are sending letters that they are decreasing our credit limit. This increases our available credit/balance ratio, again lowering our scores. Countrywide has totally ruined us.
Some people on this site have asked what they can do to fight back against Countrywide, and they can't find a lawyer, etc. I suggest you find out what state agency licenses Countrywide in your state and file a complaint. Also, contact your state's attorney general and ask that they take action on behalf of all homeowners. As soon as we hear whether or not we get approved for the modification, and things settle down and I can breathe again, I'll be making complaints and writing to all my elected officials asking them to do something. Companies like Countrywide are the reason the economy is so poor right now. This effects everyone.
We are currently 4 months behind and have been waiting for a loan modification since October 2007. Our credit is ruined because they told us NOT to make payments. We still are at great risk of losing our home and being forced to rent.
Jimmy of Marrero LA (02/09/08)
I paid my load ahead to December of last year. Countrywide nearly went bankrupt and was sold. I was waiting for a bill so that I could pay it. I just received the bill today on Feb 09-2008, with a notice of Default and Acceleration. They are charging me $40.00 for late fees. This isn't right. They shouldn't be able to charge late fees when I wasn't sent a bill.
Twana of Memphis TN (01/27/08)
In March of 2006 I lost my job in Minnesota. The only place that I could find employment was TN. I had to move. I moved in August of 2006. My payments to Countrywide had been current. My house had been on the market with no luck. My realtor said that it might sale if I make some improvements. I asked Countrywide for a loan forbearance so that I could make the improvements. They approved it for the months of April, May, and June of '06. Once the forbearance time was over and I had not sold the house, they wanted me to bring the loan current asap. I filed for a loan modification in July of '06, at which time I received a renter. I began sending in the payments since July of '06. I would call every week to check on the status of the loan modification--and nothing. The case was handed off from person to person.
It is now Jan. '08--and nothing. They have been rejecting my payments since October '07. Now they say I don't qualify for a loan modification. My credit score was a 780. Now my credit is shot. I still have the money in the bank, and I don't know what to do. The renter wants to buy it in June '08. If I could get things back on track, I would be okay.
My credit is ruined, and I may not be able to buy anything again. Worse: it may fall into foreclosure before the person can buy it.
Robert of San Jose CA (01/25/08)
Our daughter, a single mother with 2 children, was approved for a home loan by Countrywide with a $550K variable first negative amortization and a $110K 2nd at a fixed rate of 13.5%. The loan agent made up and entered her income as $150,000 per year as declared income, even though she was unemployed and did not stipulate that as her income. At the time, she had hopes for employment but it was not consumated yet and didn't materialize for 9 more months. Before the signing, I notified the agent that she was unemployed but he submitted the loan for processing and approval anyway. Now, she has a $100K annual income but can't carry a $670K mortgage, which has grown from $650K, due to negative amortization. She has contacted Countrywide to request renegotiation of the loan to avoid foreclosure but nothing has resulted.
On foreclosure, she stands to lose the $70K downpayment and may never be able to buy another home. Needless to say, living under the stress has been painful and hgas affected the life of her and her children.
Shannon of Sicklerville NJ (01/23/08)
In May of 2006 I co-signed for my sister for a house. The mortgage company had told my mom and sister that they would only have me on the mortgage for 3 months and even offered me money to help her. Before I signed the papers at settlement, I asked if I was still going to be on the mortgage for the first three months. The realtor also asked the men from the mortgage company, and they said, "Yes, she will be on there for only three months." Three months came and went, and I was still on there.
I called a number my sister gave me, and they told me that they don't put someone on the mortgage for only three months, and that there was nothing that could be done. I argued with them on the phone and still nothing. My mom has called numerous times, and they said they would get back to her and still have not. This has been going on for over a year now. Now my sister has fallen behind on her mortgage, and my credit is ruined. If I knew I was going to be lied to, I never would have signed the papers and walked right out of settlement. I've been told that what they did was illegal and something should be done about it.
My credit is ruined; now I probably will not be able to purchase a car or home.
Michael of New Castle DE (01/17/08)
They first raised my mortgage $219.00 without notice due to taxes after my first year of buying my home. When I called customer service they told me that my property tax went up over 1300 dollars and if I made that payment that would make my mortgage payment go down. When I hung up the phone I did the calculation and that should have only went up a little over a hundred dollars a month, so I called customer service back to ask them how they got that calculation and they told me that taxes were added on from last year and that is why I have the huge increase. If I would have known that could have happened, I would not have bought this house.
Then I sent my payment for this month by Western Union and they are telling me that they did not receive it yet and that a late fee is now due on my account. I talked with one of their customer service reps right before I sent the payment and they gave me the code city and code state to send the payment. When I called Countrywide today, they told me that I sent the payment too late and they stopped posting payments to the account at 3 o'clock pm and my payment was sent 7:20 pm but their customer service took my call right before I sent the payment and did not tell me this. This mortgage company is not helpful at all.
I am in a financial struggle trying to make ends meet. I was fine before the increase and now I am behind in other bills. I went from paying $1298.99 to $1518.03 a month for a mortgage payment and I have to pay $1575.51 this month because they said they didn't receive my payment on time. Please give me some advice if you can.
Angie of Menifee CA (01/16/08)
Before we put our house sale on 07/24/07, we contacted Counrywide agents and informed them that I had lost my job due to a disability sufferred caused by a noninsured motorist. We asked if we can refinance our loan, but he said no because of low income. My husband retired to take care of me and his retirement income is not enough to pay our mortgage of $3,500 a month. I bought my house for $475,000 put additional upgrades of $24,900, put downpayment of 5%. We have looked for a job in our area, but to no avail. I have mailed Countrywide all the proof of income, letters, house keys, garage door openers and gave them a Deed in Lieu of Foreclosure form signed by a Notary Public. I have written them letters and I also faxed our paystubs and letters to Workout Dept because I have propective buyers and Countrywide told me to fax the authorization letter for my agent to talk to them and everything the agent told me to do.
It's hard to contact them. My agent was having dfficulty contacting them. By the time my agent was able to get hold of them, all my prospective buyers backed out when they found out that our lender is Countrywide. So I faxed and mailed again a letter to Countrywide and informed them that we are giving back the house to them. Centex and Richmond and other builders lowered down the selling prices of their new homes which is used to be $500,000 or more down to $307,000 to $438,000, some builders sell to $200,000 and builders give high incentives. The CMA and current selling prices of existing homes in our area dropped down to $299,900 to $325,000. Countrywides' agents called me and asking me if I can pay $9,000 because I am behind in my payments. I told them I don't have money to give them.
We left the house in 0ctober, 2007, and are currently renting a 2 bedroom apartment in San Diego county. The agent I spoke to last night, Wendell or Trisha, told me that she will call again to see if our situation changed. She asked me if I am looking for a job. I told her that both my husband and I were looking for jobs in Menifee, but we can't find one. We are 59 to 60 years, both Asians, and it's hard to get a job. My unemployment insurance ran out a year ago and I'm no longer eligible to receive it. I told her I was diagnosed with having cataracts, osteoporosis and injured my right wrists. My regular and customary work is processing disability claims.
We just want Countrywide to leave us alone since we haven't lived in this house since 0ctober of 2007. We want Coutrywide to take back this house from us but we don't know how they will do that. We have lost a lot of our savings and retirement money keeping this house. This house is beautiful with a total of $74,000 upgrades but even that can't attract any buyer because the lender is Countrywide. If Countrywide will change their policies |
