countrywide saga

[tsunamipete]

For all of you that are reading this, here is my story! I was reading some of the stories on this forum last week and i said to myself let me try and email countrywide and see what happens, well i called them today and they got my emails (hardship letter, check stubs, w-2, etc.) and the lady that i spoke with was really nice and ready to help, she said that i will be getting a call in a couple of days, so hopefully they will be able to help me with my loan modification. And i must say that i was really sceptical on sending any emails to countrywide! I was expecting no response from them, so if your anthing like me try the emails you have nothing to lose and a whole lot to gain. Thanks for a great website! And if you have a account with countrywide we all know how fustrating it can be dealing with them via telephone. Thanks Again.

[Cat Damiano]

Hi tsunamipete,


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

I am glad that the contacts we have here on the forum for Countrywide were able to help you out..............our systems that we have in place here do work...........so no need to be skeptical....... just look at all the Success Stories after following the advice given here..........

Please keep us posted on your progress.............

[mlbrink]

Tsunamipete,

I was encouraged to hear your story and was wondering if you thought you received positive responses from Countrywide due to their recent takeover, or just plain dumb luck. I tried a few months ago and was met with the "brick wall" and I was curious to know if they are working with their customers a little more easily now. At any rate, good for you!!!

[tsunamipete]

my previous attempts have been over the phone with no real response, this is the most activity that i have had since i emailed them, which the emails i got off of this website that cat posted. I sent out approx. 10-12 emails some came back and some did not, the lady that is working on my loan has given me her email and direct phone number that is way more than i got before! thanks for asking

[tsunamipete]

Well,
I recieved my new loan mod. papers , the only question that i had was, there was no mention of escrow account to be included, when i asked Countrywide they said it was included, then i asked if the escrow account ver***e could be included in the loan agreement she told me that it would take 3-4 months to add that and that they use a standard form (3161) for these types of mods. does any one know that in fact the escrow is included in my payment or will that come up later??

[wchamilton]

Originally Posted by tsunamipete

Well,
I recieved my new loan mod. papers , the only question that i had was, there was no mention of escrow account to be included, when i asked Countrywide they said it was included, then i asked if the escrow account ver***e could be included in the loan agreement she told me that it would take 3-4 months to add that and that they use a standard form (3161) for these types of mods. does any one know that in fact the escrow is included in my payment or will that come up later??

I have my modification papers from Countrywide and the cover page says:

"The following amounts will be added to your current principal balance, resulting in a modified principal balance of $76,173.69 prior to your first payment date. The amount added to your loan is:

Interest: $7097.58
Fees: $2686.69
Escrow: $2642.56
Total: $12426.83

Your new modified monthly payment will be $758.91, effective with your October 1, 2008 payment. This payment is subject to change if your escrow account is reanalyzed ir if you have a step rate or adjustable rate loan type. A breakdown of your payment is as follows:

Principle and interest: $618.03
Escrow: $140.88
Total: $758.91"

So in my case my load modification clearly shows that the loan payment includes an escrow. You say yours doesn't, even though they told you it would?

[tsunamipete]

There is no mention of escrow anywhere on the papers.

[Dan Bailey]

Pete, I'm sure Cat Moe or Andrew will be by soon to advise you on how to remedy this. I would be leary of signing incomplete paperwork though. Did your previous loan include escrow?

[tsunamipete]

no it did not, and i spoke with countrywide again today and was told that i did not have to sign the papers and that if i did not they would close the loan modification.

[tsunamipete]

This the second time i have spoke with countrywide today (Diane Garcia) , she just called me back and again told me that they could not change the ver***e but she would try and get a alternate modification approved, so we will see what happens, now i am starting to think that i am getting to picky!

[Cat Damiano]

pete,


When do you have to have the paperwork back by? CW is very picky about that..............so please just make sure you get an answer before that time period, otherwise you run the risk of losing this mod that you currently have.............

[tsunamipete]

I now have 2 loan mods one is due back sept.14 and the other aug.28, they are both
8.79 % , i was hoping for something a little better because my payment is still going to be $2000+ a month,all that they did on one mod is lock it for 5 years and the other mod they locked for the remainder of the loan term, do you think getting a attorney involved would help to get a lower payment or do i just walk away from the house?

[Cat Damiano]

pete,


That is a decision that only you can make.............these modifications are given by the investors on the loans.......