Loan Modification Forum - LoanSafe.org - View Single Post

faith · 03-14-2009, 05:26 PM

Hello everyone, hope all is well with you.
I just checked my credit report with Equifax and I found out that Countrywide reported the 2nd mortgage as delinquent and I owed them $91,000 plus $10,885. They have only reported the 1st mortgage as paid and closed. I have filed a dispute with Equifax and told them that Countrywide agreed and approved a Short Sale for $298k to cover for 1st and 2nd loans which were both CW's. I have a letter stating that CW, its investors and insurers will not pursue any deficiency judgment against us if we did Short Sale and that the balance owed was cancelled. My credit score went down to 633 for doing Short Sale. It really proved that I can not trust CW, their Short Sale is a scam. They can not get anything from me anyway, I only have $25 dollars left on my checking and my husband's checking balance is only $100 dollars. Bank of America cut down our credit limit from $12,000 to $8400 which is the total amount we owed when they found out that CW reported us as delinquent and our credit score went down to 633.

I still thank God I have a roof on my head and $125 between my husb and and I. So I don't know if foreclosure is better or Short Sale, I guess Short Sale only did a little damage as far as credit score, I don't know about foreclosure. The only sad part in renting, I have neighbors in hell that has loud music, heavy footsteps and dropping heavy things on the floor, making loud noises 24/7 and if we complaint and called Security Guard the more they make noises. Oh Calgon take us away!!!!!!!!!!!!!!!!!

Thanks.........

03-14-2009, 05:26 PM	#1 (permalink)
faith Homeowner & Forum Guide Join Date: Feb 2008 Location: San Diego Posts: 885 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Countrywide's Short Sale is a scam!!! Hello everyone, hope all is well with you. I just checked my credit report with Equifax and I found out that Countrywide reported the 2nd mortgage as delinquent and I owed them $91,000 plus $10,885. They have only reported the 1st mortgage as paid and closed. I have filed a dispute with Equifax and told them that Countrywide agreed and approved a Short Sale for $298k to cover for 1st and 2nd loans which were both CW's. I have a letter stating that CW, its investors and insurers will not pursue any deficiency judgment against us if we did Short Sale and that the balance owed was cancelled. My credit score went down to 633 for doing Short Sale. It really proved that I can not trust CW, their Short Sale is a scam. They can not get anything from me anyway, I only have $25 dollars left on my checking and my husband's checking balance is only $100 dollars. Bank of America cut down our credit limit from $12,000 to $8400 which is the total amount we owed when they found out that CW reported us as delinquent and our credit score went down to 633. I still thank God I have a roof on my head and $125 between my husb and and I. So I don't know if foreclosure is better or Short Sale, I guess Short Sale only did a little damage as far as credit score, I don't know about foreclosure. The only sad part in renting, I have neighbors in hell that has loud music, heavy footsteps and dropping heavy things on the floor, making loud noises 24/7 and if we complaint and called Security Guard the more they make noises. Oh Calgon take us away!!!!!!!!!!!!!!!!! Thanks.........