Mozilo on distressed borrower's appeal for help: "disgusting"

[deyaju]

Now I know why they don't want to communicate with us via email. What kind of messaging system is CW using? Since it can't handle such a load.

"His original e-mail was sent to 20 Countrywide addresses, including Mozilo's. Such mass e-mails have overwhelmed e-mail boxes at Countrywide, disrupting its operations and prompting Mozilo's heated response"

This is really "disgusting", knowing that such a big organization does not have the proper tools to do business( May be the wrong PR )!

[schwefls]

Good point deyaju....

[altlend1]

Who is John Galt? When will Atlas Shrug? Do the words of this CEO surprise anyone? This sub-prime meltdown (what a term) is a beast put into the American system, and subsequently the world, that once again the government must *fix*??? (or the same bank that saved our grandparents in the Great D for a tidy profit). There will be those that point the finger at the non-document reading borrower ("who just wanted their first home"), the commission hungry brokers (who had to make their own mortgage payment - hey everybody, call your broker now and see what he is doing for a living), or the CDO starved hedge funds (you name them). Who is at fault when it was a collective problem form the shoddy new contruction builder to "the Street" who placed billions in the market to fund the 2/28's and 3/27's. Do we forget that the money was looking for a return and the fees from the packaged CDO's was what the hedge funds gorged on while putting the risk off on teacher retirement pension fund managers (I wonder if they can use the same "I didn't read the docs" excuse?) This is not solely the fault of the little guy driving the '93 Jeep.

[jennifer]

It is a Beautiful Day in the neighborhood !!! The moon is HUGE !!! I never take my home and all its wonders for granted !!!
Those who choose to stand in judgement and condemn us for what we to do to save our homes and take care of our families have obviously never endured what we have. We do not claim to be perfect or to have made only correct decisions. We are responsible or we would give up and do nothing. We only want a fair chance to right a wrong.
We tell all that come here to Loansafe we do not JUDGE !!!
We are a family!!! A family stands together, fights together, cries together, laughs together, and celebrates together !!! That is what we do here.
Those that have come for help you are in the right place.
You who do not want to learn and understand what we stand for and the work that we do together as a community as a family need to leave !!! STOP wasting our time.

Moe *** Andrew & those I don't know ....
How many ways is there to say Thank-You !!!
You are going to be so bombard, Let me know what I can to help

jennifer

[Moe Bedard]

Thanks Jennifer............

The bombard already came and went....when the internet was a buzz with the news......3500 members and guests online here at one time today was a record to say the least.....but all got handled swiftly and appropriately.....to protect the safety of the members................and my Ban trigger finger got a good workout.........but it is all good.........the Noxious Weeds were (Banned) and the Flowers are blooming in our happy little garden.....

[actually42]

Well I was drafting an email when the you know what hit the fan. Im hoping I just have perfect timing...maybe if I am really really nice in my overwhelming mass email I ll get a good reply. Ive been waiting since Feb for a phone call from my 5th negotiator...

Positive energy though right? What else could I possibly use the money for? Countrywide and its investors needs it much more!

[lecia11]

I figured that, once the story about Mozilo's e-mail hit the Internet, trolls would make their way to this website. Tells you something about someone's character if they feel the need to kick people when they're already hurting. I'm glad that the moderators are on the case!

[Moe Bedard]

Thanks Lecia............it was actually quite comical following them all over the board today.........
kind of like following the dog around with the pooper scooper not knowing where it is going to go next.......LOL

[schwefls]

LOL, many thanx again *** for watching over your flock so closely

[penniandmondo]

You know the old saying "What comes around, Goes around, and usually back to you ten fold.
So, this is to you who say he is running a business, bull****
This man is a thief, and maybe when the FBI gets done with them, they will be sitting in the state penn.

Furthermore, Moe and others, we don't need more stress from people who think we are all out for a free ride. I am not behind in my payments, and I resent this person saying so.
The broker and first mortgage holder I had contact with are already in bankrupcy court, GETTING OUT OF THEIR DEBTS.

[Honest_fox]

Much Thanks to Rudy Jay for well wishes and I hope the best and prayers for you and everyone else as well.

I do find it laughable that because I don't air my problems that I don't have or have never had any.

I've shed blood, sweat and tears. I would, and I will, do it again.

I heard a piece of advice that has served me very, very well. "You can't cheat an honest man". You may not believe, but I will swear by it. That and "Education is the most effective form of rebellion".

O yeah, and that one up there about not judging people? Sounds like the words are dropped pretty heavily on old Mozilo.

He is a business man. If nobody did business with him then you never would have heard of Countrywide. I'll start feeling sorry when businesses start putting guns to people's heads. Until then I'll do my best to help my neighbor make good choices and pick them up when they fall because I would hope they would do the same for me.

peace

[minty]

I am late to this one. Mr. Mozilo please expect an email from me. You know me. I am in South Florida. You know the one who claims they made all the mortgage payments. Remember your guys lost the insurance checks they were supposed to endorse and send back to me. Remember. Of course you don't. Its an internet conspiracy isn't it. But not quite like the mortgage scam you had going on. Of course you don't remember me. You have spent more money on attorney's fees than my house is worth. I guess when you make $176,000,000.00 sell Countrywide stock you get a little paranoid.

[schwefls]

Thank you Honest Fox well put

[minty]

No Countrywide didn't put a gun to my head that would be too easy. They just ripped me off $30 at a time, have tried to bleed me dry and take my home away from me. Like a gun would solve any problem. Ha.

[faith]

Moe,
I thought Mozilo was replaced by Andrew Gissinger, I emailed this guy using your trick how to email CW and it just accepted my email but no responsed.

Faith‏

[Andrew]

Where did you here that? Gissinger is only a director i thought.

[faith]

Honest Fox,
I don't think you are telling the truth. How can CW refinance your loan or change it to a lower interest when the world knows that there's no equity at all. I think you are one of the Countrywide Corporate Officials, Countrywide Negotiator, Countrywide Employee or a relative of Countrywide Officials, Negotiator and Employee. Of course, you are going to get a favor from them because you are one of them.

And if you are not, just WAIT TILL GOD PUT YOU DOWN, because there is a saying in Proverbs 17:5 "He who mocks the poor shows contempt for their Maker; whoever gloats over disaster will not go unpunished".

God resists the PROUD but give grace to the HUMBLE.

Thank you and God bless you, smile now, cry later.

Faith

[faith]

Andrew,
I heard it from Neal Weichel, a Realtor who had a breakfast with Andrew Gissinger, here is the story:

By: Neal Weichel
May 6, 2008

Almost everyone knows the name “Angelo Mozilo”-he’s the former CEO of Countrywide and he’s been in the news a lot in the last few years, mostly with negative connotations.

This morning I had the opportunity to meet and listen to Andrew Gissinger. It’s likely you haven’t heard his name much, but I think you might in the future, and if you do I suspect it will be with good connotations. Andrew (he goes by “Drew”), is the new Executive Managing Director and Chief Operating Officer (COO) at Countrywide, and he actually wants to meet the people out there on the front lines everyday and get their feedback on how Countrywide can improve. What a concept! He struck me as approachable, reasonable, fair, willing to critique his own company and clearly understands the entire loan process, from underwriting to the variety of products available; and he had some interesting thoughts on what is happening and will likely happen in the future. I mention this because I think “no nonsense” people like him will lead us out of the problems that we face in the Real Estate Business and I can only hope that Wells Fargo, Bank of America and the others have similar leadership.


Faith

[Andrew]

Hmmmmm. Interesting, I'll have to look into this, but it wont be till tuesday.

[Honest_fox]

Originally Posted by faith

Honest Fox,
I don't think you are telling the truth. How can CW refinance your loan or change it to a lower interest when the world knows that there's no equity at all. I think you are one of the Countrywide Corporate Officials, Countrywide Negotiator, Countrywide Employee or a relative of Countrywide Officials, Negotiator and Employee. Of course, you are going to get a favor from them because you are one of them.

And if you are not, just WAIT TILL GOD PUT YOU DOWN, because there is a saying in Proverbs 17:5 "He who mocks the poor shows contempt for their Maker; whoever gloats over disaster will not go unpunished".

God resists the PROUD but give grace to the HUMBLE.

Thank you and God bless you, smile now, cry later.

Faith

no equity? wait... what?

I bought my house about 2 years ago at a higher interest rate and now that the market has crashed and brokers are desperate for customers they offered a deal so I wouldn't go refinance with someone else. Capitalism is just as good for the consumer as it is for the business.

believe what you want though.

[amykohl]

I sent my first hardship letter back in Oct of 07 and this is how my letter went as well..................


October 08, 2007
Loss Mitigation Hardship letter

Countrywide Home Servicing
I am writing this letter to explain my unfortunate set of circumstances that have caused me to become delinquent on my mortgage. I have done everything in my power to make ends meet ,but unfortunately, I have fallen short and would like you to consider working with me to modify my loan. My number one goal is to keep my home and I would really appreciate the opportunity to do that.

The real estate market in Phoenix has declined dramatically as I am sure you are aware. That decline has had a direct and significant impact on my earnings (I own ½ of a tile demolition company and the majority of our business is residential). I am the sole provider for my family of four. I have been late on my $2000+/ month mortgage payment, which is now incurring late charges putting me even further behind. I have tapped into all of the financial recourses available to me in the past 2 months just to make ends meet.
It is our full intention to pay what we owe but at this time, we are turning to you for help. Our home value has decreased by 5-10% and we are upside down. I hope that there is a way to renegotiate the terms of my current mortgage to avoid default or foreclosure on my home. I was researching on the internet and came across the Fannie Mae Announcement #06-18 (Oct. 4 2006) regarding the servicing of Conventional Mortgage Modifications.
We think that a loan modification would benefit us both .Our situation has gotten better because my wife has taken a part time job and can contribute her earnings. My business acquired a new client and I will have jobs scheduled more in the future. We would appreciate if you can work with us to lower our delinquent amount owed and or payment so we can keep our home and afford to make amends with your firm.

I believe this addresses the situation I currently find myself in. Thank you for your time and consideration.
Sincerely and Respectfully,

[amykohl]

this is the second hardship letter they ask me to send in to them the 2nd time after they denied our Loan Modification. But we do have an interview with someone on Tuesday with Acorn?? but here is 2nd hardship letter I sent in and I used the same formatt??? I didnt know what or how and what to say in mine as well if it was not for the this wonderfull site and ***, Moe God bless you for helping so many of us! Thanks but here is my 2nd letter sent to countrywide.................................


Country Wide Home Retention Division
450 American Street
Semi Valley, Calif. 93065

Subject: Loan Number XXXXXX Loan Number XXXXXXX
Hardship letter

I am writing this letter to explain my unfortunate set of circumstances that have caused us to become delinquent on our mortgage. We have done everything in our power to make ends meet but unfortunately, we have fallen short and would like you to consider working with us to modify our loan. Our number one goal is to keep our home and we would really appreciate the opportunity to do that.

I Have a Flooring Demo business and my income comes from new builds, due to the Housing market at its worst, my business has suffered. I was in contact with countrywide back on 9/28/07 and spoke with a Gary Baxter about Refinancing so we could reduce our large house payments, Mr. Baxter said that he would pull our credit and get back with us within the hour. It took me a week of calling and emailing someone from his office to get an answer back about our credit and what we can do from there. Mr. Baxter finally took my call and said that my credit score was not high enough for him to be able to help me at this time (611 credit score) and I needed to get in touch with Home Retention. On 10/05/07, I was in touch with Home retention and was told to send hardship letter and bank statements. 04/14/08 I was told that I was denied due to borrower, sent loan Modification back unsigned and is refusing assistance for loan Modification. I have been in touch with Country wide on an everyday basis; I have documentation and call verification on the statues of the Loan modification processes for the past 8 months. I have been trying to do everything I can to stay in contact with Countrywide and to do everything in my power that is possible to stay and keep my house that I do not want to lose. I was very unclear about the Loan Modification papers that we were sent and made several calls that were documented that I was unclear of the Title papers to sign from American Title that I was told that would be in the papers to sign and have returned to Country wide by Feb. 22, 2008, and the balloon rider that is on both loans and that was very unclear about the change on the 2nd that would be a permanent change. I did make several calls to Countrywide and was advised that the calls have been noted that I was not clear on the documents and the modification Countrywide offered to us and that I had concerns on signing papers that I was very unsure about and that there was a return date that the modification needed to be returned to Countrywide by Feb. 22, 2008 and still unable to get in touch with a negotiator. I sent a letter back with the returned papers explaining the reasons and the concern of signing papers that would change our loan that I was not clear about and if someone could please get in touch with myself A.S.A.P. due to concerns of what I was signing, nothing at all of not wanting Countrywide assistance. I am in desperate need for countrywide assistance.It is our full intention to pay what we owe. However, at this time we have exhausted all of our income and resources.. Therefore, we are turning to you for help to keep our home.

Our situation has got better because due to my wife has taken up a part time job and myself have gained a few new companies and believe that the new clients being the lords house (churches) is a good sign that god works his way and he sent us the lords house to remodel. That Income will help what we can do to make sure that we can keep our home and able to live. I feel that a loan modification would benefit us both. We would appreciate if you can work with us to lower or delinquent amount owed and or payment so we can keep our home and afford to make amends with your firm.
With the houses in our neighborhood taking such a major hit and the value of the homes going down so bad we are upside down now. Our dream was to buy our home we had worked so hard for and jumped through so many loops to raise our children and grow old with each other in, to have it be taken away over misfortunes and situations we could not control at the time. I will do everything in my power to keep my home and to work anything out with Countrywide that is possible.
We put all we had into the home the first year by a total bathroom remodel. Painting replacing old fixtures with updated fixtures. We had to replace the pool pump and putting up a pool fence around our pool for the safety of our soon to be 2 year old. We have put everything that we had into our home that we plan on raising our kids and growing old together, This is the same neighborhood my wife and myself had grown up in as well, and that is why we chose this house and the area.
We truly hope that you will consider working with us and we are anxious to get this settled so we all can move on.

Sincerely and Respectfully,

[HappyHome]

To Mr. Honest Fox..~ I respectfully see you as perhaps NOT seeing all that we are going thru Here?? Comparing a McDonalds Hamburger!?? Oh, Please.. LOL..
This Thread reads to me as it is applying to those Really searching for the truth and honor for all of US hard-working People who want what is The American Dream of an Affordable Loan . I applaud You
for having the apparent abiltities you claim.

But I ask You to please refrain from the Higher Tower fo r which you claim to be "Shouting-down" to The Many who come Here for again the TRUTH and Right-ful Integrity We Seek and Shall Acquire.
Thank You
Tracyann

[amykohl]

I have a question about that?? 9 months ago before we became late and in our situation with Countrywide they ran are credit score and told us 620 wasnt high enough for them to do anything for us?? Gary baxster from the peoria,az office told us??? are you sure you dont work for countrywide, or maybe on there payroll?? Please tell me how they are doing this for you I would love to know what to do to as well???? thanks

[amykohl]

Hey I sent Angelo mozilo an email of my hardship letter back on April 16, 2008 and yes I did use the same formatt to write the hardship letter.(not ever writing a hardship letter before) but I did too use the format with my own wording and situation and emailed it to Mr. Mozilo and other contacts at countrywide hoping that I could get some feed back from my Negotiator or someone! I have been dealing with them since October of 2007? with no luck bud calling them 2 to 3 times a day and a run around! Is my situation Disgusting