Anyone had luck with CW and forbearance!

[eevee]

Hi, probably the same story over and over, but I have a few questions.

First we tried for a loan modification and got denied but we were told to wait until April because CW would be implementing the Homeowner Retention and Relief Act. Does anyone know much about this act?

Second CW raised our mortgage payment $400.00 last month????
We have a secured 30 year loan that was sold to them, ugh!! CW said they do not know why the payments are higher, but had to pay the new amount,ugh?!! Can not afford any higher payments. I tried to make payments but was told not to send half payments because they could get lost?! So now am behind, ugh!! Any ideas on why they would do that. I know they came up with a figure in they head about how much my home is worth but it is under what we owe now! Is that why CW upped our payments without our knowledge?

Third does CW have different standards in different states?

Fourth it's funny how the computers are down when you need help, unless your are making a full payment!!

Good luck to all! Any advice would be helpful.

[lostinlife]

I too am in Wisconsin. We did not pick CW they picked us lol bought our mtg. I am not sure they can raise your mtg without a reason?

[eevee]

That is what we thought?! But according to the new bill CW raised our mortgage?! When we refinanced our mortgage was bought by CW, ugh!! Funny they called for payment tonight but again would not accept partial payment. Did say to try again for another modification! Are you having any problems with CW?

[Moe Bedard]

eevee,


Welcome to the forum and thank you for joining...............

Were you delinquent on your taxes or insurance and the lender paid them and escrowed you for the shortage along with setting up new escrows?
Or were you already escrowed for your taxes and insurance?


that would be a reason aside from an adjustment in interest rate that would cause a payment to increase.

[eevee]

Hi, that would make sense, except we are escrowed in for insurance and taxes. Funny thing this last tax season we had to come up with a few $ more, CW sent the wrong amount even though the account still had $ in it. Still waiting for that refund,lol. I think CW likes to play with peoples emotions, or at least mine! Thank goodness hubby does not get emotional, or it would probably be to much to handle.

[Moe Bedard]

My thought process was that for now........while you are going through the mod process..............if that is the case and it was an escrow shortage...........you can contact the tax/escrow dept. and ask them to spread the shortage out further so it isn't $400 per month more that you would have to pay..............sometimes they can stretch it to 48 months........which should be able to make a dent in that extra $400.

[eevee]

Another day another phone call received from CW! Still no luck with loan modification. Was told to wait until April, but would I like to make a full payment?! Ugh!! It's like CW employees are reading from a book and do not care about working it out with you!!

[LaraB]

Whatever you do make payments at least in the amount that you are supposed to have been paying before. Find a service ( I have heard of Checksafe) that will accept your payment in Countrywide's behalf. If you cannot get CW to accept your payment set it aside in some sort of escrow account. They TOLD us not to make payments (while in modification) and now we are in the sherrif's sale stage of foreclosure (and fighting daily with CW).

[eevee]

Another day another phone call from CW, who now wants $4000 or so?!!!! Okay, love the numbers that they come up with? Still would not take a partial payment, and now they say wait until May and maybe they can help?!!! So confusing! Just do not understand why CW changes their minds about everything! It depends on who you talk to and where you are connected too! UGH!!

[eevee]

Received letter stating it was a Notice Of Intent To Accelerate!
It stated that we have the right to cure the default on or before May8, 2009. It also states that CW may enter upon and conduct an inspection of our property. Also states ways/options that may be available to us, Repayment plan, loan modification, sale of property, and deed-in-lieu. Right after I opened this letter, CW called. LO and behold, still no help for us??!!! I do not want to lose my house, but they are so unwilling to talk to us in a human manner, ugh!! Anyone else receive a letter like this? How long until CW does a foreclosure, ugh!!! Any ideas to unstress yourself!! Thanks for your help!! By the way I'm in Wisconsin.

[sarge]

If you haven't already, you should contact NACA. There is a link there for homeowners with a sale date.

https://www.naca.com/refinance/refinanceTenStep.jsp

[teenut]

How far behind are you eevee?

[eevee]

I am 3 months behind. CW said we needed to be 3 months behind to help us?!! They added on alot of late charges that would need to be paid off by the may 8,2009 date also. I do not believe, but I could be wrong, that the May 8, 2009 date is for sale of my property, I think it means that it will go into foreclosure on that date?! I HOPE I'm right, or I may be in trouble!! So I got behind, now CW will not help, even though they said to get behind? What is this world coming too! I know I'm in the same place a lot of people are in, it's just frustrating! This feels like a no win situation! Thanks for listening!

[eevee]

Sarge, just a question if you do not mind. Do I need a sale date to get help from NACA? Thanks, eevee

[teenut]

eevee, the may 8th date is not the sale date of your property. I have recieved this letters before. Usually when they set a sale date, you will receive this letter by fedex/ups or something like that. May 8th date is the date to cure the default. Have you contacted CW to see if you qualify for any programs?? I would start the NACA process and also contact CW to see if they have any programs available to you.

[sarge]

I agree with teenut. Start both but there hasn't been much success with CW.

[eevee]

I have tried with CW since last Oct. to do a loan modification. First it was wait until the New Year, then it was wait until February, then it was get behind and wait until April with the Obama plan. So have been calling every week, to work something out, first it was I made to much money, CW had a whole different amount that is NOT what I even make in a month, but they are determined it is! Then gave all info. on debts, expenses, earnings, etc. was told to wait a few weeks for a response, never heard anything back, ugh! Then I actually talked to a human being and the new message was CW can not except the CC debt or student loans or car payments, therefore I made enough money to cover the loan and they wanted to know if I wanted to pay by phone? CW still had wrong amount that I made, I explained that and they said try calling again in mid April, which is where I am today. ugh! Frustrating!

[eevee]

I just want to keep our home! I hate it when people play games with your emotions, life, etc. I understand that CW goes thru people like crazy, but if you truly want to work something out, and you had a hardship that is in true nature, mine was a cervical neck surgery that did not go well and am still under 3 Doctor's care for it and on meds and a weight restriction, why won't CW help? And why would CW say to miss payments and then we will help out! CW is just horrible at times in my opinion. Sorry for venting!

[sarge]

To answer your previous question, no you do not need to have a sale date to start with NACA. I am almost 3 months behind and have started with them. Many others here are further behind and still in their homes. There are a lot of people here who can help guide you through this situation. Either way you go it will take some time. I just responded because I thought you had a sale date and NACA will work to postpone it.

[eevee]

Thanks Sarge, I will look further into Naca! So how long does a person have until they foreclose on their property? Another queston if you do not mind, will Naca stall the foreclosure? Should I state that to CW? Thanks again!!

[teenut]

you would have to check within the laws of your state for forclosure. Each state has a different process. Yes NACA can stop a sale date.

[sarge]

I was told they wouldn't start foreclosure until you are 4 months behind but you hear different stories if you read these forums. So far, I have only gotten the collection calls but some here say they haven't gotten those. I don't know what the criteria is.

NACA will do what they can to postpone it while they are working with you. I would start by following the link I sent you earlier and start the whole process. Once you have, you will get a member ID# and when you speak to CW you can inform them you are working with NACA and give them the ID#. You might get someone at CW who will say they don't know of NACA or tell you that since you are working with NACA then they can't help you. There have been a lot different responses people have gotten from CW.

[MP927]

Hi eevee, I know it's easier said than done; but do not give the "intent to accelerate notice" too much energy. In my opinion it is just a standard form letter they send when you hit that 60 day late mark. Believe me, I was panicked too since we had never received something like that before! It was a certified letter too brought by the mail carrier so I was really nervous at that point. That was when I posted for the first time here, and I felt so much better with the advice and help from everyone here. So you are not alone and things will work out. NACA is the best way to go on this, so hopefully you have that rolling.
Loads of Luck!

[eevee]

Thanks for all of the advice! So talked to CW yesterday and they now have a plan that might work out, something with a forbearance?! Anyone know about this plan? That's the update as of now!

[eevee]

CW is apparently sending out paperwork for a forbearance for us. Has anyone had any luck with this?!