Loan Modification Forum - LoanSafe.org - View Single Post - need help dealing with countrywide's round around

giv5yrarm · 10-25-2008, 08:33 AM

Irene Vega from Chicago IL

I truly need assistance. i have a 5yr arm and my monthly mortgage payment is going to increase on Nov 1st 2008 i am no longer able to keep up with my payments. i have contacted countrywide repeatedly.. their refinance department was not able to offer me a refinance that would lower my monthly payment amount and they would only be able to go FHA with pmi... so i was directed to their home retention dept.. for weeks i attempted to call and each time i would get a representative in INDIA that were very hard to understand and not very helpful..

i asked for a renegotiation of my loan terms or a modification but was told that unless i had received a letter in the mail they could not help me.. and they could not send this letter to me. i then went in person to a countrywide branch office but was told the only department that can help me was the home retention dept and only by phone. ( very frustrating ) again i repeatedly called countrywide only to get misdirected all over the place.. their customer service department instructed me to ask for their national homeowner retention plan and they again directed me to the home retention team..

I finally got someone in the USA.. the representative went over all the details and took all of my financial information ... my assets, debts, income etc., and based on my information i was told that i don't qualify for any type of help,,, they said that my income falls short by $700 per month to cover my expenses and therefore i do not have enough income available for them to work with me on. (made no sense) .. the representative said she could only recommend that i sell my home, rent my home or find a second job to make up the difference in my income! and that maybe i should wait for some other type of help that might be available in the future.. and to check countrywide's website..(the website only directs you to call their home retention center.. vicious cycle)

i was of course displeased and gave up... my friend referred me to your website because she is currently also being assisted by your team in dealing with countrywide.

basically what i am looking to accomplish is to be modified to a fixed 30 or 40 yr loan at the rate i have now of 6.25% or lower. i would also need to stay in the range of $1800 to $1900 per monthly with taxes and insurance included.. this is the maximum i can afford if needed i know my credit score and i had my home appraised in september..

i have a senior in high school trying to get into college and a 21 month old toddler, seperated from my husband so i can only rely on my income alone. with the economy the way it is and everything so expensive i can barely put food on the table and i feel so defeated with countrywide.

Thank you in advance for your direction, suggestions or feedback on my situation..

10-25-2008, 08:33 AM	#1 (permalink)
giv5yrarm Member Join Date: Oct 2008 Location: Chicago IL Posts: 18 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	need help dealing with countrywide's round around Irene Vega from Chicago IL I truly need assistance. i have a 5yr arm and my monthly mortgage payment is going to increase on Nov 1st 2008 i am no longer able to keep up with my payments. i have contacted countrywide repeatedly.. their refinance department was not able to offer me a refinance that would lower my monthly payment amount and they would only be able to go FHA with pmi... so i was directed to their home retention dept.. for weeks i attempted to call and each time i would get a representative in INDIA that were very hard to understand and not very helpful.. i asked for a renegotiation of my loan terms or a modification but was told that unless i had received a letter in the mail they could not help me.. and they could not send this letter to me. i then went in person to a countrywide branch office but was told the only department that can help me was the home retention dept and only by phone. ( very frustrating ) again i repeatedly called countrywide only to get misdirected all over the place.. their customer service department instructed me to ask for their national homeowner retention plan and they again directed me to the home retention team.. I finally got someone in the USA.. the representative went over all the details and took all of my financial information ... my assets, debts, income etc., and based on my information i was told that i don't qualify for any type of help,,, they said that my income falls short by $700 per month to cover my expenses and therefore i do not have enough income available for them to work with me on. (made no sense) .. the representative said she could only recommend that i sell my home, rent my home or find a second job to make up the difference in my income! and that maybe i should wait for some other type of help that might be available in the future.. and to check countrywide's website..(the website only directs you to call their home retention center.. vicious cycle) i was of course displeased and gave up... my friend referred me to your website because she is currently also being assisted by your team in dealing with countrywide. basically what i am looking to accomplish is to be modified to a fixed 30 or 40 yr loan at the rate i have now of 6.25% or lower. i would also need to stay in the range of $1800 to $1900 per monthly with taxes and insurance included.. this is the maximum i can afford if needed i know my credit score and i had my home appraised in september.. i have a senior in high school trying to get into college and a 21 month old toddler, seperated from my husband so i can only rely on my income alone. with the economy the way it is and everything so expensive i can barely put food on the table and i feel so defeated with countrywide. Thank you in advance for your direction, suggestions or feedback on my situation..