Countrywide continuously misled me by always telling me that:
• I am a valued customer
• They want to do all they can to help keep me in my home and avoid foreclosure
• The foreclosure process is halted while I am in workout
• I am eligible for one of their workout options
• I qualified for a Repayment Plan and/or Loan Modification Program
• A negotiator will be assigned to my account
These mis truths only intensified the seriousness of my financial situation and my future.
Following is the email I sent to those on your
CW list. My property is in CA, income surplus under $100, Option Arm, 9 months behind. I will make every effort to raise the reinstatement funds, but then what. Could this be The Truman Show 2?
May 26, 2008
I recapped my critical situation in descending order due to the pressure, given 3 business days to fully reinstate my loan for $19,043.85, in order to stop foreclosure and postpone the impending sale of my home on 05/30/2008.
Since October 2007, through default, and foreclosure proceedings beginning in February 2008, I have been waiting for a negotiator to be assigned to my file in HOPE review for loan modification. I am desperate for resolve and anxiously await your urgent return telephone call to me.
05/23/2008 I call Foreclosure Dept. again and explain again that I am still in desperate need of a negotiator to discuss my loan modification options.
CW’s representative responds that he “needs my funds in hand before anyone will even look at my file”. He explicitly states, “30% is not an option”, and “it must have been received at Countrywide 10 days of the sale date”. I am hysterical. He then transfers me to Joseph Rauschenbach who promptly informs me his representative was misinformed and action would be taken. In order to guarantee stop foreclosure I must send a certified cashier’s check and promissory note that these funds in the amount of $19, 043.85 are for the reinstatement of my loan to Gwen Batemen, postponement clerk. It is Friday 05/23/2008 after 7:00 pm. I’ve been on the telephone for over 3 hours with Mr. Rauschenbach. Monday, 05/26/2008 is Memorial Day holiday. I wonder if having had this amount of money immediately available would I still be waiting for a negotiator assignment? Can I find a family member or friend with $19,043.85 readily available in the form of a cashier’s check within 3 business days?
05/21/2008 I call back to check status of negotiator assignment and advise her I have the required $5,713.15 in funds available for work out. I am told I was pre-qualified on 05/19/2008 and urgent sale date emails were sent on 05/15, 05/16, and 05/19. No negotiator is assigned yet and to give
CW until Friday, 05/23/2008 to get a negotiator assigned.
05/19/2008 I call to check status of HOPE referral in work out. Reinstatement figures came in. The
CW representative says I need $5,713.15 (30%) available to continue work out to 05/30/2008. When my loan is modified the 30% will be deducted from the balance past due, and remaining $13,330.70 will be added to principle and payments adjusted. I am instructed to call back within 48 hours to confirm if funds are available.
5/15/2008 I call
CW to check on the status of a negotiator assignment to my loan. I am told my house has a sale date of 5/30/2008. He apologizes for the miscommunications and explains that enormous amounts of people are in the same situation like me. While I wait on the phone, he sends an urgent email advising this loan is in HOPE modification review, to postpone or change the sale date that I have not even been contacted by a negotiator yet. I am to check back on the status within 2-3 days. No reinstatement figures exist so he will order them now, taking 1-2 days to get the figures. Repeats that upfront funds will be approximately $5,000.
04/11/2008 I call again; She verifies I was referred to HOPE on 03/28 and she is sending email to the team manager to faster escalate my file. Explains it is 30-45 day review period from 03/28 and will bring my situation to the attention of her team leader.
03/28/2008 I call again; Reports no negotiator is yet assigned and will urgently resubmit for a negotiator to be assigned. Home Retention confirms I qualify for work out assistance and loan modification and I will be called back within 5 days. HOPE Dept. is to determine how much I can pay toward the loan. I should call back if I don’t hear back by 04/04/2008.
03/21/2008 I receive a computer generated call. I repeat my story once again pointing out I am in work out and still waiting for a negotiator. She will send another notice to assign my unassigned account and tells me 1 to 1-1/2 months of payments maybe due at the time of modification and I say ok. Sr. management should call me 03/24-25 but I should continue to call them.
03/19/2008 I call back; Foreclosure Dept. advises I was escalated to senior management on 03/18 and Sr. V.P. to call me back by 03/24, that callbacks never go beyond 72 hours. He emphasizes my loan is “fixable”.
03/06/2008 I call back; Am told it takes 15 business days to assign a negotiator and another 15 business days to review and call me back. She says the probable outcome is to add the debt back into the loan and recalculate payments for the duration of the loan. I’m to follow-up on 03/20/2008.
02/29/2008 I call again; Home Retention says I’m still under review, no negotiator is assigned yet. She is sending email advising I am calling again, that it’s been 2 weeks and a negotiator must be assigned. I’m to follow-up on 03/05/2008.
02/14/2008 I call again; Home Retention Team shows my property is in foreclosure on 02/06/2008, however, my loan is in Work Out Department still under review. They confirm investigating the serious status of my account, now under the scrutiny of your Home Ownership Loan Counseling Program since October 2007, and will again review for modification. I fax another letter, previous letters and hardship documents again, Attention: HOPE. Advised initial review takes 2 weeks, to call back to confirm docs were received and whom the negotiator is.
01/17/2008 I leave 28 messages. Still no negotiator.
01/10/2008 I get a recorded message telling me “call
CW back at another time”.
12/06/2007 I call back; Home Retention advises I am still in negotiation stage to rework and modification to put the balance $7,724 owed to the end of my loan to bring it current. I am instructed not to make monthly payments and they were leaving a message for Donald Perry telling me not to send money but to wait to hear about the status of my account.
11/09/2007 I call back; Lending refers me to Loan Modification to help me improve my financial situation. I fax another letter and hardship documents again.
11/07/2007 I call back; Loan Servicing said a counselor, Donald Perry, was already assigned to my file on 10/09/2007 but he was extremely backlogged to call me; discover he had the wrong telephone number anyway. Mr. Perry recommends Full Spectrum Lending to rewrite a fixed rate loan with lower payments rather than apply for a special forbearance,
10/08/2007 I call Loan Counseling Center for options to refinance or modify my loan to avoid foreclosure. Suffering from a life-changing event resulting in severe hardship. I fax a hardship letter and documents to Work Out, send a certified cashier's check for $2,025.90 to keep my account current, and I would get a negotiator assigned within 15 days to rework my loan. At this time, I am one month behind in payments.
I submitted every document, called back, followed-up and done everything
CW has told me to do. Now, I’ve been given one option to remain in my home with my 2 children.
Where is a good negotiator when you need one? Please help me.
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