Loan Modification Forum - LoanSafe.org - View Single Post

LUEser · 08-18-2008, 08:45 PM

Hi all, and thanks for letting me share my post.

Like many others here, I've had it beyond the breaking point with Countrywide. But I'm not here for a sob story, that's now how I deal with things. I go into legal mode, and it's all about documentation.

So here's the story thus far.

Got behind in August of 07 by two payments. In good faith, we decided to contact countrywide and see if we could do something to catch up the balance. We kept up just a little under normal payments through November and in January, we finally contacted the home retention team as we were two months behind because of all the late fees and charges. Finally initiated contact with the workout department to begin working on a loan modification. We were told as many others not ot make a payment during the process (this was pre this site and the godlike information contained herein). Anyway, in March of 08 Countrywide decided to get our modification "negotiated" if you can call it that. We were on a repayment plan. Payments jumped from about 900/mo to 1300/mo to be paid each month with no grace period and via cashier's check or money order only (another unnecessary 17.00 or so dollar fee on top of the extortionary amount already being demanded.)

In any event, we managed to make the payments on time every month beginning in March. Payments were made each month on time from March through may. That's four consecutive paymtns at 400/mo over the original loan agreement just to keep out of foreclosure. The payments were do at the end of each month.

In June we recieved a FedEx package outlining the agreement under Freddie Mac and the Heart Program. THe details included moving the APR down from 5.25 to 4.74, extend the loan into 2048, and decrease the payments from around 900/mo (escrow/taxes/ins included) to 744.49 (escrow/taxes/ins again included). This was to be enacted on July 1st 2008. We recieved these documents on June 4th, letter dated May 30th. Sent them back on June 5th and Heart Team confirmed they recieved the document on June 10th. Called the Heart Team again to see what happened to our modificaion agreement as it was still in effect. We're told to contact countrywide as they are the ones who deal with the payments. Called Countrywide again, informed them about our HEART eligibility and that we sent in the documents. They said, great, go ahead and begin making payments as per the new agreement on July 1st.

Now bear in mind, we had a 300 partial payment sitting awaiting our next payment. Not taking any risk, on July 3rd we send a payment for 745 dollars via western union quick collect to ensure instant delivery. We call countrywide on July 5th to confirm they recieved the payment. They did, and they returned it. Countrywide claimed receipt of the payment on July 7th.

Now here's where it starts getting absurd. Even per the old agreement this would be enough to satisfy a full payment with the partial balance sitting. But they rejected it, sent it back via Western Union on the 17th. We pick it up on that day. WE proceed to call countrywide back and get three different answers.

One CSR says that Heart Team processes heart program. I've called the heart team several times poking and prodding and they in now way accept payments. THey're a third party contracted workforce that processes the papers. They have nothing to do with countrywide.

One CSR says that they couldn't take payments until the 10th and that we were 7 days too early. But he did note the attempt at payment on the 3rd.

One CSR says (this one in "Platinum Services" says we the account is reporting 8 months delinquent and is in foreclosure. This is after we spoke with Home Retention earler that day.

I finally managed to get ahold of one person, Jason Sanchez, who actually knew what he was talking about. He informed us that the loan was in the closing process and was looking for funding from the lender. He was the first person I talked to who actually was able to pull the documents and see the new arrangement. He told us t pay per the new arrangement.

So we try to. Well, After we talk to Sanchez, the account magically updates. This is on or around July 23rd. We call home retention to set up the payment per Sanchez instructions. Well, the account is in "negotaions" again per the recorded message and "we may not hear anyting from them for several days during this process," information would be available on August 4th.

Okay, at this point I'm banana sandwich with the whole mess. Obviously this will not fly. We call back and try to set up a payment again. Finally someone wants to take it, again in home retention. I ask how it will be applied. She says as a normal payment (an old payment of 900). I decline. This is theft and breach of contract and not done in negligence, but damn it this is willful noncompliance. I explain my problem, for the thirtieth time, to yet another Home Retention rep syaing the probelsm occurs because we signed and notarized a contract due to be in effect on July 1st, and the payment there were asking for would be applied to the old agreement. I can't see giving them any more money, especially illegally, we they by law are bound to the new extension of credit.

Finally, I call back today. It's gone too far. It's been over 60 days since we sent back the paper work, our credit score has gone to hell, and the fees keep coming. Again, I'm asked to pay on the old agreement. This is after I ask to speak to the legal department, " which I'm infomed countrywide does not have,' Really? Ahh the audacity. .

So this leads me to this conclusion...

08-18-2008, 08:45 PM	#1 (permalink)
LUEser Junior Member Join Date: Jul 2008 Posts: 4	Countrywide and HEART program run around Hi all, and thanks for letting me share my post. Like many others here, I've had it beyond the breaking point with Countrywide. But I'm not here for a sob story, that's now how I deal with things. I go into legal mode, and it's all about documentation. So here's the story thus far. Got behind in August of 07 by two payments. In good faith, we decided to contact countrywide and see if we could do something to catch up the balance. We kept up just a little under normal payments through November and in January, we finally contacted the home retention team as we were two months behind because of all the late fees and charges. Finally initiated contact with the workout department to begin working on a loan modification. We were told as many others not ot make a payment during the process (this was pre this site and the godlike information contained herein). Anyway, in March of 08 Countrywide decided to get our modification "negotiated" if you can call it that. We were on a repayment plan. Payments jumped from about 900/mo to 1300/mo to be paid each month with no grace period and via cashier's check or money order only (another unnecessary 17.00 or so dollar fee on top of the extortionary amount already being demanded.) In any event, we managed to make the payments on time every month beginning in March. Payments were made each month on time from March through may. That's four consecutive paymtns at 400/mo over the original loan agreement just to keep out of foreclosure. The payments were do at the end of each month. In June we recieved a FedEx package outlining the agreement under Freddie Mac and the Heart Program. THe details included moving the APR down from 5.25 to 4.74, extend the loan into 2048, and decrease the payments from around 900/mo (escrow/taxes/ins included) to 744.49 (escrow/taxes/ins again included). This was to be enacted on July 1st 2008. We recieved these documents on June 4th, letter dated May 30th. Sent them back on June 5th and Heart Team confirmed they recieved the document on June 10th. Called the Heart Team again to see what happened to our modificaion agreement as it was still in effect. We're told to contact countrywide as they are the ones who deal with the payments. Called Countrywide again, informed them about our HEART eligibility and that we sent in the documents. They said, great, go ahead and begin making payments as per the new agreement on July 1st. Now bear in mind, we had a 300 partial payment sitting awaiting our next payment. Not taking any risk, on July 3rd we send a payment for 745 dollars via western union quick collect to ensure instant delivery. We call countrywide on July 5th to confirm they recieved the payment. They did, and they returned it. Countrywide claimed receipt of the payment on July 7th. Now here's where it starts getting absurd. Even per the old agreement this would be enough to satisfy a full payment with the partial balance sitting. But they rejected it, sent it back via Western Union on the 17th. We pick it up on that day. WE proceed to call countrywide back and get three different answers. One CSR says that Heart Team processes heart program. I've called the heart team several times poking and prodding and they in now way accept payments. THey're a third party contracted workforce that processes the papers. They have nothing to do with countrywide. One CSR says that they couldn't take payments until the 10th and that we were 7 days too early. But he did note the attempt at payment on the 3rd. One CSR says (this one in "Platinum Services" says we the account is reporting 8 months delinquent and is in foreclosure. This is after we spoke with Home Retention earler that day. I finally managed to get ahold of one person, Jason Sanchez, who actually knew what he was talking about. He informed us that the loan was in the closing process and was looking for funding from the lender. He was the first person I talked to who actually was able to pull the documents and see the new arrangement. He told us t pay per the new arrangement. So we try to. Well, After we talk to Sanchez, the account magically updates. This is on or around July 23rd. We call home retention to set up the payment per Sanchez instructions. Well, the account is in "negotaions" again per the recorded message and "we may not hear anyting from them for several days during this process," information would be available on August 4th. Okay, at this point I'm banana sandwich with the whole mess. Obviously this will not fly. We call back and try to set up a payment again. Finally someone wants to take it, again in home retention. I ask how it will be applied. She says as a normal payment (an old payment of 900). I decline. This is theft and breach of contract and not done in negligence, but damn it this is willful noncompliance. I explain my problem, for the thirtieth time, to yet another Home Retention rep syaing the probelsm occurs because we signed and notarized a contract due to be in effect on July 1st, and the payment there were asking for would be applied to the old agreement. I can't see giving them any more money, especially illegally, we they by law are bound to the new extension of credit. Finally, I call back today. It's gone too far. It's been over 60 days since we sent back the paper work, our credit score has gone to hell, and the fees keep coming. Again, I'm asked to pay on the old agreement. This is after I ask to speak to the legal department, " which I'm infomed countrywide does not have,' Really? Ahh the audacity. . So this leads me to this conclusion...