Bullied By Countrywide..... - Loan Modification Forum

SingleMom33 · 03-18-2009, 09:14 AM

Hi, everyone...I've read many posts and threads before I decided to apply for membership. I'm wondering if anyone is feeling the same way as I am, as if you are being bullied by Countrywide. Here's my story....

I've had four (4) surgeries since last June. I'm currently recuping from my last surgery at the end of February. I ultimately fell behind on my mtg in October as I was placed on Short Term Disability and the payments were not nearly enough to cover both of my mtgs. I have a 1st and 2nd with Countrywide. The first is a I/O for 7.375% with a principal balance of $411,150; the second is 10.5% 15 yr balloon with a balance of $49,219.00 They (Countrywide) allowed me to go into a Special Forebearance plan where I was paying only half of my mortgage for a couple of months; however, that only put me further in the hole, because at the end of the forebearance, I was due for three (3) months. I enlisted the help of two (2) HUD approved counseling agencies and only one (1) responded. The Counselor worked with me and we made contact with Countrywide to begin the modification process.

I was approved; I then received the paperwork this week with the modification terms for the 1st, not the 2nd. It states that they are willing to drop me to 7% for 5 yrs at $2,477.66 I/O and then back to my normal rate at 7.375% yrs 6-30 PI and at that time my payment would increase $2,610.39! How in the name of everything Holy could anyone afford that payment?

I've placed calls to the HOPE Team, HRD Team, anyone who would listen and have been told that either I take it or I get nothing. Basically, saying I should be grateful for anything. I've had four (4) surgeries, I don't know, I pray not, but I don't know if I'll need another, how can I say yes to this....

I saw the NACA info, but due to my illnesses, I don't know if I'll be able to volunteer as much as the normal, person, so what do I do?

I feel like that kid in the schoolyard who has their back against the wall with no options...

Any thoughts and/or assistance anyone can provide would be greatly appreciated.

SingleMom33

Dan Bailey · 03-18-2009, 09:18 AM

singlemom,
Glad you found the forum and posted.
The volunteering with NACA is not mandaory at all, you can ignore that as well as the $50 fee they state(that was rescinded months ago and site has not been updated)
I would suggest you start the process with them ASAP by filling out the info online and making yur first appt. (this can be done over the phone if no office is near you)

KVICORY · 03-18-2009, 09:23 AM

I called the HOPE team reguarding my loan mod. They then transferred me to Home retention. They informed me that at this time the loan mod i rcvd' was based on my income to debt, etc. and that if I didnt take it I could re apply for a new loan mod, but they can't guarantee I would get approved. And that I could not go back to this loan mod. offer, I would have to re apply again. In the meantime I have not paid a pymt since 10/07..yeah thats right it has been a long time. My point is that you can re apply(per CW home ret) but they can also proceed with foreclosure...

SingleMom33 · 03-18-2009, 09:43 AM

Thanks for your replies, Dan and KVICORY. Dan I also sent an email to one of the lists I saw posted; Adrienne Ely and Raquel Robinson's email came back. I also left Tabitha a message; maybe someone can help me. Maybe there's a misprint in the modification terms and should say be increased to $2,610.39... I am not in the least little bit ungrateful at all, just didn't want to enter a contract I'd regret. I will f/u with NACA as well.

KVICORY, they were a lot nicer to you.....have you reapplied?

KVICORY · 03-18-2009, 09:47 AM

No, I didn't re apply..I spoke to an attny. yesterday and he said he could try for a fixed rate. But since we are so far behind, the deal we got isn't half bad considering. It is 4.25 interest only for 5 years, then it will re adjust to the rate at the end of the 5 years unless we refi. We also filed bk chp 7 so our credit is terrible. We are signing today, and going to follow the instruction to make good on pymts for the next 24 mo. and try to refi at a later time. Also we are debt free and not going to make the same mistakes so we can repair our credit in the next few years..

SingleMom33 · 03-19-2009, 07:17 AM

I'm following up with Naca, but was wondering if anyone has had any success with Tabitha and/or any of the email addresses and/or phone numbers to the Office of the President at Countrywide lately?

Dan Bailey · 03-19-2009, 07:30 AM

Singlemom,
CW is in such a state of flux all the time now, that many of those folks are not around anymore/e-mails changed.

SingleMom33 · 03-19-2009, 07:37 AM

Okay. Thx Dan...........

SingleMom33 · 03-19-2009, 03:23 PM

Hi Everyone!

I guess I'm a success now! I actually spoke to Tabitha and she answered the phone, I know others of you have said she would. She looked at my documents and saw there was an error; my payment won't go up $2600 it wlll adjust from $2477 to $2600! And, ironically, I have an Angel watching out for me, they modified my 2nd mtg without my even asking! Those papers are on the way!

My Load Mod will take my current fixed rate to 7% for 5 yrs I/O and then PITI @ 7.375. And I will wait to see what they do with the 2nd!

I made sure she knew I was apart of this forum and that you all were instrumental in my getting the nerve to contact her and not just sign a document!

SO Everyone please read your documents first before signing; you never know what you may be signing to...

So, thanks Dan, ***, Moe and everyone else for letting me into your lives to read your stories, it was those stories along with prayer that motivated me to pay it forward!

Phyll (SingleMom 33)

Moe Bedard · 03-19-2009, 03:46 PM

Congratulations Phyll!!

That is great news!

Will they be sending you some updated docs?

SingleMom33 · 03-19-2009, 03:49 PM

Hi, ***!

Yes, I'm faxing everything over to Tabitha and she's going to go in and get it taken care of. She told me I didn't have to deal with anyone but her.

I'm seeing all of these wonderful rates come and am thinking I should just ask if we could come down some???? LOL!!!!

pdsfoley · 03-19-2009, 03:54 PM

who is Tabitha??? how do I get ahold of her???

Moe Bedard · 03-19-2009, 03:58 PM

she is in your office of the president at Cw.

you don't have access to that dept.?

pdsfoley · 03-19-2009, 05:22 PM

***.........I've worked at CW since Nov...we have access to what they think we should hagve access to...I've had customers call and ask for the #...our supervisors do not let us give it out....ridiculous don't you think??

CW California · 04-07-2009, 11:21 PM

Hey Single Mom, Found your thread. So if I understand it correctly, the office of the Pres. got you submitted for the Making Home Affordable plan?

SingleMom33 · 04-08-2009, 07:47 AM

I got my docs today. What happens is, you have to meet the three (3) months of on-time payments first to be eligible; so Countrywide is calling it, on my docs, a Special Forbearance Agreement. However, the interest rate is 5.125% (PITIA) where I initially had 7.375% IO. So, after you successfully make the three (3) months payments, then you are rewarded by the Obama Plan (at least this is what I read) and you are then approved to go into the modified loan at the agreed interest rate, again in my case, 5.125%, and then in year six (6) you will have a set interest rate the rate they had given you on the date of the modification agreement, which has to be less then the current market in that year.

So, with my credit score now after the surgeries and being late, I'm happy with the 5.125% PITIA rate.

*** posts this number 1-800-601-2522 for the OOP

CW California · 04-08-2009, 09:16 AM

Single Mom
Does that rate get you at the 31%-38% of your income?

SingleMom33 · 04-08-2009, 09:19 AM

For my first mortgage it gets me to 28%; when I add my 2nd which they are still working on, it gets me to 33%. I have two (2) different investors so they are working on the trying to get the 2nd lower so I can get to the 31% in total.

CW California · 04-08-2009, 09:29 AM

That's great news! Congrats! I'll keep fighting the good fight in the meantime.

Dan Bailey · 04-27-2009, 07:29 AM

jackie,
There is no specific number for the reps. If you contact the Office of the President as posted above, you may or may not get her as a negotiator.

jackie1 · 04-27-2009, 07:33 AM

I have been waiting forever for a negotiator and received nothing. I have two loans and upside down on the mortgage and hoping that they give me a loan mod along with a principle reduction which is probably too much to ask for!!

Rumor · 04-27-2009, 09:07 AM

When you call the Office of the President, it says to enter in an ext. or hold for the next available rep. Are these "reps" customers service reps or are they actual negotiators? The last time I called them, the man I spoke to sounded like a customer service rep and spoke to me like one. I was wondering if they it's a call-center out of the country or it actually is the Office of the President.

lostinlife · 05-05-2009, 10:59 AM

when u call the # for the president it says its a cumstomer service # what I am doing wrong?

markmc2000 · 05-05-2009, 01:31 PM

Quote:

Originally Posted by pdsfoley

***.........I've worked at CW since Nov...we have access to what they think we should hagve access to...I've had customers call and ask for the #...our supervisors do not let us give it out....ridiculous don't you think??

Get back to work!

pdsfoley · 05-05-2009, 02:31 PM

Markmc2000....My wife got fired from CW because of us posting to this site!!

03-18-2009, 09:14 AM	#1 (permalink)
SingleMom33 Member Join Date: Mar 2009 Location: DC Posts: 21	Bullied By Countrywide..... Hi, everyone...I've read many posts and threads before I decided to apply for membership. I'm wondering if anyone is feeling the same way as I am, as if you are being bullied by Countrywide. Here's my story.... I've had four (4) surgeries since last June. I'm currently recuping from my last surgery at the end of February. I ultimately fell behind on my mtg in October as I was placed on Short Term Disability and the payments were not nearly enough to cover both of my mtgs. I have a 1st and 2nd with Countrywide. The first is a I/O for 7.375% with a principal balance of $411,150; the second is 10.5% 15 yr balloon with a balance of $49,219.00 They (Countrywide) allowed me to go into a Special Forebearance plan where I was paying only half of my mortgage for a couple of months; however, that only put me further in the hole, because at the end of the forebearance, I was due for three (3) months. I enlisted the help of two (2) HUD approved counseling agencies and only one (1) responded. The Counselor worked with me and we made contact with Countrywide to begin the modification process. I was approved; I then received the paperwork this week with the modification terms for the 1st, not the 2nd. It states that they are willing to drop me to 7% for 5 yrs at $2,477.66 I/O and then back to my normal rate at 7.375% yrs 6-30 PI and at that time my payment would increase $2,610.39! How in the name of everything Holy could anyone afford that payment? I've placed calls to the HOPE Team, HRD Team, anyone who would listen and have been told that either I take it or I get nothing. Basically, saying I should be grateful for anything. I've had four (4) surgeries, I don't know, I pray not, but I don't know if I'll need another, how can I say yes to this.... I saw the NACA info, but due to my illnesses, I don't know if I'll be able to volunteer as much as the normal, person, so what do I do? I feel like that kid in the schoolyard who has their back against the wall with no options... Any thoughts and/or assistance anyone can provide would be greatly appreciated. SingleMom33

03-18-2009, 09:18 AM	#2 (permalink)
Dan Bailey Loan Safe Moderator & Homeowner Guide Join Date: May 2008 Location: Wilmington NC Posts: 1,407	Re: Bullied By Countrywide..... singlemom, Glad you found the forum and posted. The volunteering with NACA is not mandaory at all, you can ignore that as well as the $50 fee they state(that was rescinded months ago and site has not been updated) I would suggest you start the process with them ASAP by filling out the info online and making yur first appt. (this can be done over the phone if no office is near you) __________________ Loansafe saved my home!! I may be alot of things, but I do know the difference between reply and forward.

03-18-2009, 09:23 AM	#3 (permalink)
KVICORY Member Join Date: Feb 2009 Posts: 14	Re: Bullied By Countrywide..... I called the HOPE team reguarding my loan mod. They then transferred me to Home retention. They informed me that at this time the loan mod i rcvd' was based on my income to debt, etc. and that if I didnt take it I could re apply for a new loan mod, but they can't guarantee I would get approved. And that I could not go back to this loan mod. offer, I would have to re apply again. In the meantime I have not paid a pymt since 10/07..yeah thats right it has been a long time. My point is that you can re apply(per CW home ret) but they can also proceed with foreclosure...

03-18-2009, 09:43 AM	#4 (permalink)
SingleMom33 Member Join Date: Mar 2009 Location: DC Posts: 21	Re: Bullied By Countrywide..... Thanks for your replies, Dan and KVICORY. Dan I also sent an email to one of the lists I saw posted; Adrienne Ely and Raquel Robinson's email came back. I also left Tabitha a message; maybe someone can help me. Maybe there's a misprint in the modification terms and should say be increased to $2,610.39... I am not in the least little bit ungrateful at all, just didn't want to enter a contract I'd regret. I will f/u with NACA as well. KVICORY, they were a lot nicer to you.....have you reapplied?

03-18-2009, 09:47 AM	#5 (permalink)
KVICORY Member Join Date: Feb 2009 Posts: 14	Re: Bullied By Countrywide..... No, I didn't re apply..I spoke to an attny. yesterday and he said he could try for a fixed rate. But since we are so far behind, the deal we got isn't half bad considering. It is 4.25 interest only for 5 years, then it will re adjust to the rate at the end of the 5 years unless we refi. We also filed bk chp 7 so our credit is terrible. We are signing today, and going to follow the instruction to make good on pymts for the next 24 mo. and try to refi at a later time. Also we are debt free and not going to make the same mistakes so we can repair our credit in the next few years..

03-19-2009, 07:17 AM	#6 (permalink)
SingleMom33 Member Join Date: Mar 2009 Location: DC Posts: 21	Re: Bullied By Countrywide..... I'm following up with Naca, but was wondering if anyone has had any success with Tabitha and/or any of the email addresses and/or phone numbers to the Office of the President at Countrywide lately?

03-19-2009, 07:30 AM	#7 (permalink)
Dan Bailey Loan Safe Moderator & Homeowner Guide Join Date: May 2008 Location: Wilmington NC Posts: 1,407	Re: Bullied By Countrywide..... Singlemom, CW is in such a state of flux all the time now, that many of those folks are not around anymore/e-mails changed. __________________ Loansafe saved my home!! I may be alot of things, but I do know the difference between reply and forward.

03-19-2009, 07:37 AM	#8 (permalink)
SingleMom33 Member Join Date: Mar 2009 Location: DC Posts: 21	Re: Bullied By Countrywide..... Okay. Thx Dan...........

03-19-2009, 03:23 PM	#9 (permalink)
SingleMom33 Member Join Date: Mar 2009 Location: DC Posts: 21	Re: Bullied By Countrywide..... Hi Everyone! I guess I'm a success now! I actually spoke to Tabitha and she answered the phone, I know others of you have said she would. She looked at my documents and saw there was an error; my payment won't go up $2600 it wlll adjust from $2477 to $2600! And, ironically, I have an Angel watching out for me, they modified my 2nd mtg without my even asking! Those papers are on the way! My Load Mod will take my current fixed rate to 7% for 5 yrs I/O and then PITI @ 7.375. And I will wait to see what they do with the 2nd! I made sure she knew I was apart of this forum and that you all were instrumental in my getting the nerve to contact her and not just sign a document! SO Everyone please read your documents first before signing; you never know what you may be signing to... So, thanks Dan, ***, Moe and everyone else for letting me into your lives to read your stories, it was those stories along with prayer that motivated me to pay it forward! Phyll (SingleMom 33)

03-19-2009, 03:46 PM	#10 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,685	Re: Bullied By Countrywide..... Congratulations Phyll!! That is great news! Will they be sending you some updated docs? __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

03-19-2009, 03:49 PM	#11 (permalink)
SingleMom33 Member Join Date: Mar 2009 Location: DC Posts: 21	Re: Bullied By Countrywide..... Hi, ***! Yes, I'm faxing everything over to Tabitha and she's going to go in and get it taken care of. She told me I didn't have to deal with anyone but her. I'm seeing all of these wonderful rates come and am thinking I should just ask if we could come down some???? LOL!!!!

03-19-2009, 03:54 PM	#12 (permalink)
pdsfoley Senior Member Join Date: Feb 2009 Posts: 403	Re: Bullied By Countrywide..... who is Tabitha??? how do I get ahold of her???

03-19-2009, 03:58 PM	#13 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,685	Re: Bullied By Countrywide..... she is in your office of the president at Cw. you don't have access to that dept.? __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

03-19-2009, 05:22 PM	#14 (permalink)
pdsfoley Senior Member Join Date: Feb 2009 Posts: 403	Re: Bullied By Countrywide..... ***.........I've worked at CW since Nov...we have access to what they think we should hagve access to...I've had customers call and ask for the #...our supervisors do not let us give it out....ridiculous don't you think??

04-07-2009, 11:21 PM	#15 (permalink)
CW California Senior Member Join Date: Feb 2009 Location: SoCal Posts: 1,124	Re: Bullied By Countrywide..... Hey Single Mom, Found your thread. So if I understand it correctly, the office of the Pres. got you submitted for the Making Home Affordable plan?

04-08-2009, 07:47 AM	#16 (permalink)
SingleMom33 Member Join Date: Mar 2009 Location: DC Posts: 21	Re: Bullied By Countrywide..... I got my docs today. What happens is, you have to meet the three (3) months of on-time payments first to be eligible; so Countrywide is calling it, on my docs, a Special Forbearance Agreement. However, the interest rate is 5.125% (PITIA) where I initially had 7.375% IO. So, after you successfully make the three (3) months payments, then you are rewarded by the Obama Plan (at least this is what I read) and you are then approved to go into the modified loan at the agreed interest rate, again in my case, 5.125%, and then in year six (6) you will have a set interest rate the rate they had given you on the date of the modification agreement, which has to be less then the current market in that year. So, with my credit score now after the surgeries and being late, I'm happy with the 5.125% PITIA rate. *** posts this number 1-800-601-2522 for the OOP

04-08-2009, 09:16 AM	#17 (permalink)
CW California Senior Member Join Date: Feb 2009 Location: SoCal Posts: 1,124	Re: Bullied By Countrywide..... Single Mom Does that rate get you at the 31%-38% of your income?

04-08-2009, 09:19 AM	#18 (permalink)
SingleMom33 Member Join Date: Mar 2009 Location: DC Posts: 21	Re: Bullied By Countrywide..... For my first mortgage it gets me to 28%; when I add my 2nd which they are still working on, it gets me to 33%. I have two (2) different investors so they are working on the trying to get the 2nd lower so I can get to the 31% in total.

04-08-2009, 09:29 AM	#19 (permalink)
CW California Senior Member Join Date: Feb 2009 Location: SoCal Posts: 1,124	Re: Bullied By Countrywide..... That's great news! Congrats! I'll keep fighting the good fight in the meantime.

04-27-2009, 07:29 AM	#20 (permalink)
Dan Bailey Loan Safe Moderator & Homeowner Guide Join Date: May 2008 Location: Wilmington NC Posts: 1,407	Re: Bullied By Countrywide..... jackie, There is no specific number for the reps. If you contact the Office of the President as posted above, you may or may not get her as a negotiator. __________________ Loansafe saved my home!! I may be alot of things, but I do know the difference between reply and forward.

04-27-2009, 07:33 AM	#21 (permalink)
jackie1 Junior Member Join Date: Jan 2009 Posts: 1	Re: Bullied By Countrywide..... I have been waiting forever for a negotiator and received nothing. I have two loans and upside down on the mortgage and hoping that they give me a loan mod along with a principle reduction which is probably too much to ask for!!

04-27-2009, 09:07 AM	#22 (permalink)
Rumor Senior Member Join Date: Feb 2009 Posts: 442	Re: Bullied By Countrywide..... When you call the Office of the President, it says to enter in an ext. or hold for the next available rep. Are these "reps" customers service reps or are they actual negotiators? The last time I called them, the man I spoke to sounded like a customer service rep and spoke to me like one. I was wondering if they it's a call-center out of the country or it actually is the Office of the President.

05-05-2009, 10:59 AM	#23 (permalink)
lostinlife Senior Member Join Date: Feb 2009 Posts: 131	Re: Bullied By Countrywide..... when u call the # for the president it says its a cumstomer service # what I am doing wrong?

05-05-2009, 02:31 PM	#25 (permalink)
pdsfoley Senior Member Join Date: Feb 2009 Posts: 403	Re: Bullied By Countrywide..... Markmc2000....My wife got fired from CW because of us posting to this site!!

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