| Countrywide/ BOA ongoing issues
Hi, this is my first post but I have been reading the posts here for some time and decided to post our issue to get feedback from those reading this. My husband and I obtained our Countrywide loan in 2007, it was a refinance. Shortly after closing the loan I lost my job and then my husband lost his job. We were unable to obtain regular employment in our fields so we decided to freelance and therefore became self employed and started 2 businesses. As people who are self employed we do not make the same earnings every month and in fact with the losses we incurred we ended netting very little last year. We have spent the last two years going through all of our savings to make ends meet. At the beginning of this year the well was already dry and we contacted Countrywide and explained that since our business had slowed down we may have difficulty making our payments. At this point we were 30 days late. They sent us through the work out department and in the meantime we continued to make our payments and 60 days later, I receive an envelope at my door, setting three months of interest to the end of our loan. At this point we had managed to catch up and I couldn't understand where the numbers were being gathered from so I contacted the Hope department who told me they didn't have that information and that I should call Home Retention. I called Home Retention who sent me back to Hope. After 2 days of this I got sick and sat down with my amortization schedule and figured out where the numbers were gathered. This was a repayment arrangement for someone in arrears which at this point we were not. After various more phone calls and getting no where I became tired and called the Chairman's office where a very nice man told me that the paperwork would modified and everything would be corrected. I waited a month and no one called me, I received nothing. I decided since our slow months were once again upon us that I would sign the repayment arrangements since I knew that once again we were going to fall behind. As I was making the last of these arrangements I contacted the Hope department who told me not to send them in and that I should apply for MHA. They advised me to contact the Home Retention team which I promptly did. I spoke to someone there who advised that the reason that we hadn't qualified for anything else was because we were grossing about $3000 more a month that we were in reality and I realized that they had obviously calculated something wrong. Anyway, we went through the financials again. I actually felt hopeful and this time, I sent a 2 page explanation letter explaining that our employment was seasonal and that there were 3-4 months out of the year in which we had little to no income. I also sent two profit and loss statements (1 for each business) and our personal bank statements with duplicate deposits (ie. w/d from business to put in personal acct clearly marked) and last year's tax return, 50 pages in total. We were once again denied, supposedly our income was too high. The only way we could have gone over the threshold is if they took those three months which were in the height of our year into account without taking into account the 3-4 months that we have little to no work. We are now 30 days behind and quite frankly I don't know if we can even come up with a mortgage payment this month either. Countrywide said they are exploring other options for us. I really do not know what to do in our situation it seems they are not taking into account that our income fluctuates. Does anyone have an idea what I can send them to get them to understand that our income fluctuates?
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