[Cassietw]

Our story: My husband and I purchased my Mother’s home in Feb 2005. This was a sub prime 2 year fixed, interest only ARM loan. We were assured that we would be able to re-finance with no problems as housing prices were going up. Two months after we purchased our home, my daughter was diagnosed with Cancer (Hodgkin’s Lymphoma). On the same day, my son was in the hospital with a broken leg and a bone tumor (Non-Ossifying Fibroma) that needed to be removed, and bone grafts were taken from his hip to reconstruct the bone in his lower leg. My daughter started Chemotherapy and my son went into surgery on the same day, May 9^th, 2005 at UCLA medical center. I can document proof of this. Even our local paper wrote an article about our family and what we were going through. This created a hardship for us. We both traveled, working in the jewelry industry at the time and our income was cut down from between $10,000 and $12,000.00 a month, to about $3,500.00 to 4,500.00. After everything, we could not go back to work doing what we were doing as it meant traveling up to 25 days out of town at a time and we no longer had or could afford our live-in nanny for our 4 children. My husband and I managed to re-finance our home in Feb 2007 as it was scheduled to adjust. We are currently in a 5-year fixed, interest only, ARM, 7%. The loan is scheduled to adjust in 2012. Our first mortgage is currently $3,525.00 a month. Our second is between $380.00 and $500.00 a month. Our current take home is $6,166.00. We have no car payments. We have 2 cars, one is broken down. We carpool to save gas, plus we don’t have the money to fix the other vehicle. We have credit cards that are at their limits with monthly payments totaling $380.00. We have monthly utilities, car insurance, food and gas. There is nothing left for necessities or emergencies. We now have all 4 children at home. My oldest 20 year old son was helping financially but was laid off 3 weeks ago and is having trouble finding work. My 19 year old daughter just moved back in as she was struggling on her own. We have 2 under age children and do not have medical coverage or qualify for any services as they say we make too much money. We rented out one room to help offset the payment but that person hasn’t paid me rent since December so I just kicked her out and my daughter is now taking her place. We haven’t figured out how much my daughter can help yet. She needs follow up treatment for her cancer but has no medical coverage so we are trying to work that out too. We have never been late on a payment. With all our hardships, we have managed to make it happen every month, and every month I wonder if we are going to pull it off the next month. The last 6 months we have fallen behind on our credit cards and our second mortgage. As time went by, we were barely making it and when the occasional car repair or dental needs came up, we offset the expenditure with a credit card as we have no cash on hand. Our cards are all now at their limits. The payments are higher and it is even harder now to make it. I don’t know that I will be able to make the March 09 house payment. We filed our taxes early but we owed two months on all the utilities and credit cards, so that only helped catch up and we are still not current on everything. My husband and I have been trying to get a loan modification from Countrywide Home Loans. I have made several calls where I have spent up to an hour at a time on the phone with them trying to see if there are any programs we qualified for. Each time I am told, “sorry we cannot help you”. The Countrywide web site lists numbers to call and specifies programs to help homeowners who have been late or are at risk of being late. I do not believe at this point that Countrywide helps anyone. We have never been late so they won’t help. They tell me they put the figures in and the computer says “No”. It is disheartening to know that an emotionless computer makes all the executive decisions. I thought it would make more sense to help someone who is communicating that they are in financial hardship before things get behind. Help someone who has not contributed to the real estate mess. Help someone who did not buy a home outside of his or her means at the time. Help someone who has done everything in their power to keep their obligations and be ethical. I have asked for a modification. I haven’t asked for a principal reduction, I asked to lower the points. Put me in a 30 year fixed at 5%. I want to pay my bills, not some, but all of them. I want to keep my home. It was my Mother’s and is sentimental to me. My husband and I were married at our home in the yard. Why should I have to not pay my obligation and destroy our credit for Countrywide to care and do something proactive? It seems the only one’s being helped are the one’s who have contributed to the mess in the first place.

I need this modification…..I need it to happen…..Tujunga, California