| Trying to get a second modification
There are two parts to my story:
Part 1) I qualified for a loan modification with Countrywide. I received the paperwork which I signed and returned in March 2008. My interest rate was going to stay the same (7.25) and it would be frozen until 2012. However, my payment went from 1940.00 to 2540.00 due to the fact that they added the escrow account and they paid for the for my delinquent property taxes. Although it seemed too much of an increase and in my desperation to keep my home, I signed the paperwork and agreed to new payment. I must also add that I have a 2nd mortgage that was sold to EMC Mortgage from GMAC while I was in the process of Loan Modification.
Back in March my husband accepted a part time job (not good pay) but we both thought that little bit would help us while he continued looking for a better one. Now, four months later, I find myself in over my head again. First of all, my husband is only working a couple of days a week on his part time job. Second, I incurred major expenses when my car broke down.
Thankfully, I found this site and I have been reading all the stories and trying to follow your advice. I wrote a second handship letter to countrywide and emailed it to all the address posted by Cat on other threads. I received a phone call from Sheila in the Customer Care, office of the President. She asked me to fax in the hardship letter along with the income and expense sheet, two paystubs, and bank statements.
How likely is it that I will qualify for this?
Part 2) My loan modification paperwork stated that it would begin on April 1, 2008. I sent in my new payment of 2540.00 April and May, but in May I received two letters. One of them was informing me that my new payment of 2540 would take effect beginning July 1, 2008. The second letter was informing me that I was late with my payment. After I made my June payment, I received another letter telling me that although they had received my payment of 2540 I was still 600.00 short. (How could this possibly be? I thought!!!)
When I called Countrywide and after talking to three people in three different departments I was told that the Loan Modification did not take effect in April like the paperwork stated, but in their system it shows as May 1st. Therefore, my payment from April of 2540 was used to pay late payments (which I thought were going to be added to the end of the loan) and to "miscelaneous expense account."????
I already sent in the QWR to Countrywide and waiting for a response.
My question is, What should be my next step?
Thank you so much for you attention  | 
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