Loan Modification Forum - LoanSafe.org - View Single Post - CW has me on hold and will not apply my payment

renee16 · 05-03-2009, 07:02 AM

I am a homeowner that has been in my home for 14 years. I work and right now I have 2 jobs. My husband is a early retiree. But since this situation has occured he has returned to work. We have been with CW for 3 years. Refinced, got some cash, got a second and realized we couldn't afford the two payments. Went back to CW refinaced both loans and now have one big mortage. we are in a 40 year fixed. No body in their right mind would do this, but we did. 7.65 interest rate. Long story short, we missed Feburary payment. Called immediately , signed up for repayment plan. replayment plan was unofficial, so CW said we may qualify for Loan Mod. Started that process. I called daily checking, checking. I faxed, hardship letter, bank statements, paystubs.

I wired a payment March 31 to cover February. it was applied. They payed taxes, $2400. Didn't realize we had a water and sewer lein. They paid it. I wired a full payment on April 30th to cover March. Its sitting in unapplied funds. I wired $495 to cover late fees, thye fefused to apply. Its sitting there. They sent out a statment that says we owe, March, april and May. I have tried to reach the negotiator over 100 times. they refuse to put me through. I tried to reach the negoiator's supervisor, someone gave me his name, they refuse to put me thorugh. I have literally spoken to 200 customer serice reps, some nice, some nasty, some given advice. some making it up as they hear my story.

We are in a hurry up in wait game. I can send another payment on May 15th. Should I. I know i have to wire.

I got the NOI for April 4th. It is now May 3rd. I am scared we may loose our home. We have th income now that we are both working. any chance that they will lower our interest rate so that the payments will be more managable. Have we run out of time. I cannot trust what I am being told.

05-03-2009, 07:02 AM	#1 (permalink)
renee16 Junior Member Join Date: May 2009 Location: MA Posts: 3 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	CW has me on hold and will not apply my payment I am a homeowner that has been in my home for 14 years. I work and right now I have 2 jobs. My husband is a early retiree. But since this situation has occured he has returned to work. We have been with CW for 3 years. Refinced, got some cash, got a second and realized we couldn't afford the two payments. Went back to CW refinaced both loans and now have one big mortage. we are in a 40 year fixed. No body in their right mind would do this, but we did. 7.65 interest rate. Long story short, we missed Feburary payment. Called immediately , signed up for repayment plan. replayment plan was unofficial, so CW said we may qualify for Loan Mod. Started that process. I called daily checking, checking. I faxed, hardship letter, bank statements, paystubs. I wired a payment March 31 to cover February. it was applied. They payed taxes, $2400. Didn't realize we had a water and sewer lein. They paid it. I wired a full payment on April 30th to cover March. Its sitting in unapplied funds. I wired $495 to cover late fees, thye fefused to apply. Its sitting there. They sent out a statment that says we owe, March, april and May. I have tried to reach the negotiator over 100 times. they refuse to put me through. I tried to reach the negoiator's supervisor, someone gave me his name, they refuse to put me thorugh. I have literally spoken to 200 customer serice reps, some nice, some nasty, some given advice. some making it up as they hear my story. We are in a hurry up in wait game. I can send another payment on May 15th. Should I. I know i have to wire. I got the NOI for April 4th. It is now May 3rd. I am scared we may loose our home. We have th income now that we are both working. any chance that they will lower our interest rate so that the payments will be more managable. Have we run out of time. I cannot trust what I am being told.