Countrywide Heart - HSA Program

[rjatl]

Just joined after lurking myself for awhile..scared I would lose my home. I was 3 months late with my payments, I then contacted CW and did speak with a very helpful representative who worked out a payment plan. However, the payments increased over 950.00 per month. I knew that I couldn't afford this, but I thought perhaps it would buy me some time. Then like a beacon, 2 days later I got home from work and there was my HSA letter in a FEDEX envelope on the porch. Seriously I couldn't even believe it. I never thought that I would be chosen for it. I called the number, and told them I would FEDEX the forms back, which I did the next day. Also asked them if it would negate my repayment plan (and they said my acceptance of the HSA program would do just that) I just need to begin my usual payments in June.
This to me, was just the shot in the arm I needed to get back on track. I couldn't be happier that now I can finally see the light and see myself staying in my home.
RJS

[alikeith]

Congrats to you! I am hoping i can get this program too. It would be a lifesaver for me.

[rjatl]

I hope you can also. Of course no one wants to take on another loan, but for some people it's the only way out short of borrowing 10 grand from a relative...and I know myself I would rather know that I did it myself. Good luck!!

[alikeith]

so for your payment, can i ask how many years they break that down over for the overdue amt?

[rjatl]

I'll look it up when I get home and let you know first thing in the morning. I don't have the paperwork on me in the office, but I though it was over 8 years or so....no prepayment penalty either. That was listed in the paperwork and I confirmed with the rep. I spoke with.

[alikeith]

wow, thats great 8 years. I think its at 5% intrest if i am correct too.

[rjatl]

I think it was either 5% or slighly under that....I'll get you the figures in the AM....but I know I was close to 9 grand in the hole.

[alikeith]

wow! I hope i can get that!

[rjatl]

I hope you can too. Honestly, it was one of those things that I first thought "oh this is too good to be true". The monthly amount....the terms, interest rate... Then I googled the program...and saw that it was in fact valid....etc. It's really the only thing that's helping me keep that house. There have already been 2 foreclosures on my street (in a development of 2 year old homes).....so I'm glad that I wont be the 3rd. I'll get you those figures...as I'm sure you'll be interested.

[alikeith]

That would be great!

Can i ask how far into the 3 months behind when they sent it?

I think since i have not recieved anything yet, i may not be eligable. I am over 3 months behind already

[rjatl]

well (embarassingly enough), I owed March, April and of course May. I received the letter on May 19th. Not sure if that's considered 3 months late until the end of May....or since it was past the 15th.

[laura1977]

Allison-
Do not call the 1-800-669-6607 number because this will more then likely transfer you to the India people. So far anytime I call the 1-800-669-0102 number I get Americans. Be careful of the time you call because if it is outside of business hours you could get India. Weekends are not a good time to call CW because more than likely you will get India.
When you get the automated part just say customer service rep. the automatied voice will say are you sure you don't want to try again then you say Customer Service Rep again, and it will transfer you. Be careful though because I have noticed that here lately it transfers to customer service because of the high calls to the workout dept. You do not want to talk to collections as these individuals are the India's that you don't like to talk to, plus they know nothing about HSA programming. Workout dept is where you want to be. Whenever you call CW make sure you ask the CSR if they are the workout dept.
It is very important that you call CW because that is the best way to save your home. Don't hide from them because they won't bite.
I also was told by the workout dept that my loan was safe only because it wasn't over 90 days. So if you are 3 months behind you really should contact them. They have payment arrangments where they will put your late amount and divide it by 1-6 months where you pay your normal payment along with a portion of your behind payment, plus late charges and you must pay it on the day they tell you or payment arrangment breaks and they will proceed.
Call them tomorrow and find out if your loan is a fannie mae loan, because in all honesty a few people didn't get their paperwork for the HSA program because of some sort of reasoning. I just got mine today and they were suppose to be mailed on the 13th of May.
The only way I knew about the HSA program is because I answered the phone when CW called a few weeks ago, and go the automaticed message saying it. If I hadn't answered the phone I wouldn't have gotten my paperwork, because I was expecting it from the phone call and when it didn't get here, I was the one that called and checked and this batch of paperwork has to be back in the office by Friday the 30th or you can't do it. But they are doing more next month.

[alikeith]

Yeah I tried calling earlier but did not have time to talk. It was the home retention dept and they spoke English.

I previously had a loan mod, and was told that i could not have another one once i did the initial. I am hoping either for that again, or the HSA Program. i cannot afford the pmt plan for sure.

[alikeith]

Laura,
I e-mailed countrywide today to see if i qualified for this program. They gave me that same number as you to call and talk to them. I just tried calling and there were 38 callers ahead of me. Holy Crap! I dotn understand why they just cant tell me if i qualify or not. Oh well. I will try later.

Alison

[laura1977]

Alison-
You will get the run around regarding this new program because countrywide really doesn't know anything about it yet for that one department.
When you call HSA though even if there are alot of people ahead of you it does go quickly. I know at one time I was 20th in line and it only took 5 min.
I know on the paperwork I got today, and also from talking to CSR's with the program that the loan is a 15 year loan that you start paying back 6 months after they give it to you. Which is about Dec. The interest rate they showed on my docs was 4.64% I wasn't too far behind on my loan so my payment would've only been 14.99 a month for 15 years. I decided to go ahead with the payment arrangment from CW because my case isn't so high. I was worried last week when HSA told me something different and I thought since all that mess I would loose my house. I guess I jumped the gun though.

[alikeith]

Well i just tried calling them. I actually left a message. i hope to hear from them soon. More importantly i hope i qualify. Please let me qualify! Can i ask how far behind you were? Maybe you already said it if you did, sorry!

[laura1977]

I wasn't 90 days behind because I was on payment arrangments with CW for the past couple of months. I was only 46 days behind I believe. Which I also discovered that I had a partial ballance at CW because the full payment for one month wasn't made since I was on the payment arrangment. Last Friday night I sent the rest of that months payment by western union to make sure they got it by Monday, and that made it show up as another payment done. I stopped paying my monthly payment amount last week because of HSA telling me to do so, but then they lost my paperwork. First thing I did was call CW and get back on a payment arrangment after I begged them. lol. I did finally get my paperwork yesterday for the program though and I think we have decided not to do the program, and to just stick with our payment arrangment since it isn't too bad of an amount. We have a 30 year fixed rate so we are lucky. Our taxes drop by half now this year so that helps too. Mitch Daniels did that for Indiana. It was much needed too.
I would try calling all those numbers again today because the problem you are going to face is Sunday is the 1st of June, and a new month of billing goes out from CW so you really need to be on some type of arrangment before then, because you might go to far behind for help. Please call the 1-800-669-0102 number today and talk to a live person. Sending an email isn't the same as actually talking to them. Your home depends on it. CW deals with this stuff all the time. I always said that CSR's have a job because people fall behind on payments. Which makes sense, because usually the people that call in are people that are behind and need help. They are there to help you.

[rjatl]

Alison,
I agree, I would call and don't get intimidated by the amount of people in a queue ahead of you. There were about 10 people in front of me, yet in 2 minutes I was speaking with the representative. I checked my paperwork last night, and mine was also 4.64% which amounted to 70.00 a month. I realize that I really don't want another 14.5 year loan, however I was also unable to meet the repayment plan obligations of an additional 900.00 per month. When I did speak with the representative, he did say (as did the paperwork) that I could pre pay the loan with no penalty. This was importante for me, since now I am back to work in a job that does get a bonus...so it would be nice to be able to pay off that loan next year and just be current on the mortgage.
RSJ