Loan Modification Forum - LoanSafe.org - View Single Post - HELP! Countrywide is not crediting payments!

momof4 · 01-08-2009, 06:16 AM

I need help immediately. I have been making my payments steadily this year. In 1/2008 Countrywide purchased homeowners insurance for us in the amount of $1954.00 for 3 months! I sent them proof of insurance, and they refunded me only $523.00 of it. In any case, when they charged me the $1954.00 they took that money from my house payment. So, everytime from then on when I have made a payment it has sat in a "partial balance" column, and the payments were not credited because they say they were short every month. No one contacted me regarding the insurance, and I made payments as planned, without knowing that they weren't being credited. I only learned of this because I contacted their "workout department" to see if we could get a loan modification on our upcoming adjustable interest rate which was going from 7.47 to over 8.5 then up to over 10%, every 6 months. I asked them to correct the payments, and take the money out of the "partial balance column and credit my payments. Every month I have to call them to do this, and it is still not getting done properly. After they "froze" my interest rate at the 7%, they added to my loan balance an amount of $7350.43, $4,910 of it was to catch up on 2 payments they stated. The $2440.43 remaining has never been credited to my account, nor was it charged as fees, as there were no fees involved in the interest rate freezing....so they owe me that money. I just checked my year end interest statement for tax purposes, and because the payments have not been credited as payments, my interest I have paid in 2008 is cut almost in half from last year, and the loan is only 2 years old! I paid over $30,000 in 2007, this year I have they say I have only paid approx $16,000 in interest. I need to file my taxes in February, do I go by the payments I have made to calculate my interest?, or do I go by their fraudulant activities in hording my money and not applying the payments to my account? I definitely do not want to be auditied by the IRS, but they are not reporting my interest properly. Can you please help me?? I have 4 young children, and I cannot lose my home!! Please help!!

01-08-2009, 06:16 AM	#1 (permalink)
momof4 Junior Member Join Date: Jan 2009 Posts: 3 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	HELP! Countrywide is not crediting payments! I need help immediately. I have been making my payments steadily this year. In 1/2008 Countrywide purchased homeowners insurance for us in the amount of $1954.00 for 3 months! I sent them proof of insurance, and they refunded me only $523.00 of it. In any case, when they charged me the $1954.00 they took that money from my house payment. So, everytime from then on when I have made a payment it has sat in a "partial balance" column, and the payments were not credited because they say they were short every month. No one contacted me regarding the insurance, and I made payments as planned, without knowing that they weren't being credited. I only learned of this because I contacted their "workout department" to see if we could get a loan modification on our upcoming adjustable interest rate which was going from 7.47 to over 8.5 then up to over 10%, every 6 months. I asked them to correct the payments, and take the money out of the "partial balance column and credit my payments. Every month I have to call them to do this, and it is still not getting done properly. After they "froze" my interest rate at the 7%, they added to my loan balance an amount of $7350.43, $4,910 of it was to catch up on 2 payments they stated. The $2440.43 remaining has never been credited to my account, nor was it charged as fees, as there were no fees involved in the interest rate freezing....so they owe me that money. I just checked my year end interest statement for tax purposes, and because the payments have not been credited as payments, my interest I have paid in 2008 is cut almost in half from last year, and the loan is only 2 years old! I paid over $30,000 in 2007, this year I have they say I have only paid approx $16,000 in interest. I need to file my taxes in February, do I go by the payments I have made to calculate my interest?, or do I go by their fraudulant activities in hording my money and not applying the payments to my account? I definitely do not want to be auditied by the IRS, but they are not reporting my interest properly. Can you please help me?? I have 4 young children, and I cannot lose my home!! Please help!!