Stats: - New home built Oct 2006 (Builder Bowen Homes)
- $ 220,000 Total (Fixed 30yr 80/20 = 2 loans total)
- Lender = Country Wide
- 1st time buyer w/ untill recently 720 credit score
- 100% financing
- Central Florida
- Payment $ 1,946.00 per month
After much diliberation, I've decided not to make any further payments until Country Wide reduces my principle to fair market value! I've never missed or was late on any payments, and to make a long story short I simply unplugged them from my check book. This is to serve as a documentary of what happens month to month.
Follow me as my story developes for better of for worse.
- Last payment made was Oct 2008
Here is what I have done so far: - Submitted a hardship letter
- Submitted a letter to stop collectors from calling me
- Submitted my financials
- Submitted my terms
Here is what I have recieved so far in response to the above: - (1) Late Notice Letter on a monthly basis
- (1) Letter indicating the acceleration clause to being (Dec/08)
- (1) Letter indicating the foreclosure process to begin (Jan/09)
PEACE-