Has anybody received a loan modification on their second loan with
CW only even though they have both loans with
CW?
Just received a package in the mail last month for our second mortgage where they are offering to capitalize the past due amount into the balance and lowering rate from 4.75 to 3.8 fixed for two years. Problem is they are saying they are going to add $29,000 to the loan and according to all departments I talk to at
CW we are only past due $16,000. I just asked them for a detailed accounting of fees, etc. and sent that request via overnight mail to the HOPE Team in Philadelphia where the notarized papers were supposed to be sent back to. I tried calling the number on the papers but they referred me back to
CW saying they only handle paper work that is sent to them.
CW reps in four depts. had no idea how this capitalized amount was determined.
I would like to get the second mortgage current with a lower payment since it will lower our expenses and perhaps help with getting a modification on our first. We are working with a HUD counselor (LANHS) but haven't made much progress since the last two times we've conference called
CW to update financials their system has gone down.
Any input would help.
Thanks
