Quote:
Originally Posted by Love Doctor  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- |
Hi Love Dr - I can completely understand your choice. I've been considering not paying another dime until & unless
CW & CitiMortgage respond to my plight in a way that is satisfactory, ie: principle reduction....What have they done with that $45 BILLION infusion they got? Why are they waiting(stalling) until APRIL of 2009 to utilize H4H? We'd all be sure to get a quick response & improved service if all of us
CW customers TOTALLY STOPPED SENDING THEM A DIME & put a fire in their pants. The reason they won't even consider working with me is because I am not behind on anything (yet)....they're gettin' their $$ but by April, I don't know if my head will still be above water
...Here's a link to a post & a good thread of info.
Click here: No Hope for Homeowners at CW till April 2009 - Loan Modification Forum - Loan Safe