Good Luck Jeff. I am working with an attorney also. My Loan is also with Countrywide.
CW just sent my attorney the first loan modification offer and it was just like yours. Just a repayment plan but they did lower the interest from 10.25% to 6.25% fixed after 6 months if we make the payments on time and even then with all the arrearages my payment is almost the same as before I went into to default. I had my loan docs reviewed twice by two different companies only because I wanted to make sure if we go to court we know what we are talking about. Pretty much both reviews came out with about the same violations. We have broker fraud, RESPA and TILA violations on our loan docs. Paiva's office said it was one of the worst loans that have come across their desk. What I can't understand and still haven't gotten an answer from my own attorney is that the TILA Finance Charge (Under Disclosed) is off by $888,658.58. And both Doc reviews showed that. This only one of the violations on my loan docs. Can someone tell me if this is a slap on the hand for Countrywide or a real serious violation? With that much off what would they be facing if we went to court? Now I know a loan modification is more reasonable that trying to sue but I am curious as to what would a judge say if they saw this figure? If is it real serious then I don't understand why they are sending me a garbage loan modification? My attorney told me to remember it was just the first step in the negotiating process. I guess they want to see how dumb and desperate we really are before they start talking serious to us.
My attorney is not from Paiva's Office But they are very good, I just hired one closer to me. I will watch your posts too Jeff. I am curious to what your attorney tells you.
Cowgirl