Lenders are actually the cause

[dakota11]

In 23 years I have not ever had a late mortgage payment until I became ill. I have worked for a large bank for 29 years actually the bank that is now buying the mortgage company that owns my home. Ironic. I requested a loan modification from Countrywide on 2/29/08 and today is 6/22/08. I still do not have anything done. The proces has been a nightmare for me It has had one mistake after another and been passed around from department to department with no explanation saying everytime we have to start over. By the way all the mistakes have been made by their people. Meanwhile they have tacked on thousands and thousands of dollars in fees. I think it is a great way for lenders to get additional fees. They do not actually want to help but are somewhat being forced to. Now I will have to file bankruptcy either a ch 7 or 13. I am not sure what is best. My home is now valued at 615,000.00 my first mortgage is 650,000.00 and my second is 223,000.00 and I now have 80,000.00 in credit card debt partially due to no help from countrywide and to my illiness. I do not know what is best can anyone help me or offer some advice.
Thank you in advance
Bella

[Cat Damiano]

Hi Bella,

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

I can get you to the right dept. if you want to try for the modification one last time if that will help you.............but we can not offer advice on filing bankruptcy............for that you would need to consult with an attorney as the bankruptcy laws vary from state to state.

When you put together the household income versus the household expenses you would need to show a surplus of $100-$250 at the end of the month for the modification.............

if you can do that and you want to try again...........I can help.