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Originally Posted by DanaLynne  I have heard the same information regarding Countrywide/BOA and PMI. Though, I don't believe it and feel it is just another Countrywide/BOA stall tatic. If you read the HAMP guidelines the PMI issue is addressed - I feel pretty confident that someone at Countrywide/BOA has read the guidelines. It is my personal opinion that the only way you will get anywhere with Countrywide/BOA is by NOT MAKING your house payment.
I would not deplete my savings, 401K, retirement, or borrow money from anyone if I had a Countrywide/BOA loan. Just stop making the payments and they will assist you. I'm not talking about every lender just Countrywide/BOA. So your worried about your credit? You'll be in the same place, credit wise, once you've depleted all your savings, retirement, borrowed frrom friends and family... it's gonna run out sometime.
These Countrywide/BOA folks are evil. They use every stall tatic available. There are worse things in life than a little punch to your credit. You stop making payments for 3 to 6 months - in a couple of years your credit will heal. But don't deplete all your money waiting for Countrywide/BOA to assist you - you have to stop paying them for anything to happen.
Just my opinion. |
Thanks for your reply Danalynn. Someone from the President's office called me today a couple of hours after I sent the email. We will see what comes of that.
Oh, I won't be able to make my mortgage payment this month. But I'll pay the rest of my bills on time. Maybe it won't affect my credit so bad if I only have a one time late on my mortgage with a written explanation. I did have a job interview today but won't know until Sunday after I meet the other partner if I will get the job. If that happens, my situation will improve substantially as I wil go from p/t to f/t employment with per hourly rate increase on top of that.
(fingers are crossed).