[gray517]

We have owned our home for 10 years, but now we are in desperate situation, I ended up falling victim to Countrywide’s Full Spectrum Division last year when they re-financed my home. They initially qualified both of us for the mortgage on a pre-approval basis, after we submitted everything required, we were told the credit score guidelines for our program changed overnight and my husband no longer qualified for the loan, they then qualified only me for a Mortgage using only my income, (which was not sufficient to make the payment) and not my husband’s income do to his credit rating. The mortgage started out as a refinance of a first & second mortgage at 7- 8%. But everyday the rate kept changing (going up) and we were told we could not lock in a rate since we did not have final loan approval. But by the time the loan was approved and we went to closing, the terms were totally different, we ended up with a fixed 11.125% loan with an outrageous mortgage balance, as they required me to payoff my truck and refinance it into the mortgage, which added $25,000 to my loan balance and they charged us 5% discount points in addition to other fees. When we told them this is not what we had originally agreed nor what was disclosed to us, and that we did not want to payoff the truck loan and roll it into the mortgage; the loan officer informed us that Wells Fargo our current lender at time of refinance had told them they would start foreclosure if we didn’t take the new loan ( by the time we got to the closing table, we were 2 months behind on our mortgage, the loan officer @ Countrywide told us not to make our mortgage payments while we were in processing as this could delay the payoff of the 1^st mortgage and the loan approval, he was certain the loan would be approved and that the loan just needed to be "tweaked" for final approval) In Feb 2007 I inherited a small amount of money from grandmother, we paid off our pool loan and other bills with this and put the rest into repairing and updating our house, so if we lose it now we will lose my inheritance as well. My husband took a pay cut in February of 2008, we went to Countrywide immediately and asked for help since we fell behind at that time, they gave us a modification, I asked for the rate to be lowered and they refused, only added past due to account, which while it brought account current, it increased the monthly payment due. NOW I have lost my job as of June 2008, my husband is still working but has taken another pay cut in October 2008, we can afford a mortgage payment not just the one we were bullied and pressured into taking, but we are in desperate need of help, not sure what to do, but since we have lost value ($100,000) so far in the last year, can't even sell house. I have tried to call Countrywide on numerous occasions, but constantly get the run around and transferred all over the place. So after doing some research I went to NACA in September in search of help, NACA submitted their plan for restructure of the mortgage to Countrywide on October 6^th, 2008; Countrywide has finally received it on October 12, 2008 and has our current status as being referred, whatever that means.


Not sure what to do ?? from reading all of the horror stories about CW, should i just wait to see what Naca does or what Dec 1 brings or should started calling the number that *** posted on other sites? Has anyone gotten a successful mod with naca? Please help me, can't sleep at night anymore