Told I've been referred to Heart Program. What is Heart Program?

[Tmar898]

Hi All,
I'm a homeowner who has a Countrywide Home Loan with an ARM set to adjust in October 2008 with the Nov 2008 payment to increase. I called Countrywide Home Loans, of course got the run around. But, because of the information I learned from loansafe.org, I was equipped and ready. I continued to call back everyday, several times a day. Finally, the 3rd day, a rep took information and told me to fax in hardship letter and income verification that was on July 29th. Today Aug 1st, I checked website and the section to check status of Workout Information states: Short Sale! SEE BELOW

Documents Received

Processing Date Workout Type Document Type 07/31/2008 Short Sale Other 07/31/2008 Short Sale Proof of Income 07/31/2008 Short Sale Other I did not request a short sale! I requested a loan modication. The CW Rep stated they would offer me a 5 yr fixed rate at my current payment. Should I be concerned? I'm not selling my home. WHAT SHOULD I DO NOW??!! I would like to thank you for everything you're do for homeowners in America!! We really, really appreciate the empowerment you guys are giving us!!!

[Dan Bailey]

Tmar,
I know that it takes some time for the online information to be updated correctly...it has only been one day. Keep checking on it periodicaly.

[Tmar898]

Thanks for your reply.
So, I should just wait? Should I call CW?

[Dan Bailey]

Tmar,
It can't hurt to call and ask them to just double check, but their database may not be updated yet anyway either. Just keep a running record of each call and who you talked to.

[Maurice Bedard]

Hi Tmar898,


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

Dan is right, you would need to contact CW to see why they have your file coded as Short Sale.............the only thing I can think of on the mix up is when you put together your household income versus your household expenses were you able to show a surplus of st least $100-$250 left at the end of the month? If you were showing a deficit when they did the input the computer might have generated the Short Sale option.............but definately call and get that coded correctly............

Please keep us posted...........

[Tmar898]

Hi Cat,

Actually, After the rep did my calculations, I think she came up with a surplus of $527 a month. If that is what she stated (I'm not sure), that figure is incorrect, it's actually less than that!! The figure is less than $300 a month.
Should I call them and correct it?

[Maurice Bedard]

Then the code was probably put in wrong............just tell them to correct the code on the file to read modification.......and check to make sure it is corrected online.

[Tmar898]

Well, when I checked the site on August 5th, I can no longer make my payments online. The system states my account needs special attention and gives me a 1800 number to call. Called the number, then the Countrywide Home Loans Rep asked if I was going thru a modification? I stated yes. I then asked if I could make a payment over the phone? He stated yes, and that he could offer me a discounted fee of $6.00. I made the payment and got a reference number. (Note: when I look on the Countrywide Home Loans system online it shows a payment made on August 5, 2008). The system states my loan mod request is being reviewed and all collection activities have been temporarily discontinued. They advised me not to call. The system states that there should be an update by August 25, 2008. If nothing has changed give them a call. They state they probably will not call or contact me, but if I receive correspondence to get back to them promptly. Should I call them? Or should I wait?

Oh yeah, I originally wrote in stating my mod was listed as a short sale. I did speak with someone (several days ago) who stated she would change it in the system- but online it still states Short Sale. Note: When I speak with representatives over the phone, they are aware of my modification request- no one has referenced a short sale.

[Dan Bailey]

Tmar,
Sometimes calling too much can result in too many fingers in the pie, and a screw up in what is entered into the computer by the "underlings"(generic phone answerers-reps)...I'd wait until the 25th to hear from them, then call and try to get in contact with the loan mod dept.
If the reps have stated it is a mod request, and not short sale, I would take down their name, time of call, date, etc...and keep a paper trail going.

[Tmar898]

Hi Cat and everyone:
Haven't signed in for quite a while. I was waiting for Aug 26 when my modification request verification results would be available as stated on Countrywide Home Loans web site. Today is Aug 26. The website no longer states any info. It states there is no workout on my account. But on Aug 25, it stated it was in verification process. Called CW several times (3) was given three different answers. Most of representatives mentioned the Heart Program. What is the Heart Program? I called the Heart Program and was told the only thing they do is answer questions. They don't have any record of my account. They said they don't process modifications. I don't know what to do now. I need help! What is my next step? My payments increase in November 2008. That may sound like it's far away, but in fact it's right around the corner. What is my next move? I think CW is giving me the run around. Note: On Friday Aug 22, I received a call from a woman stating she was from CW. Her name was Nikki Guys @ 1888-453-5038. That number does not work. I mentioned the number to all the CW reps and the Heart Program reps- no one knows what I'm talking about.

[Dan Bailey]

here is a contact to the Heart Team.........
1-877-643-2788

[Dan Bailey]

It's the Homesavers Advanced Program for those who have Fannie May as their investors. I'm not great at making links..so if that link doesnt work to take you directly to info on the program, do a search of HEART Program and some of the threads in the forum have links to the website.

[Tracey]

I was in the exact same boat as you 2 weeks ago.

You'll be in good hands

[Maurice Bedard]

Hi Tmar,


The Heart Team is a group that processes the paperwork out of an office for Countrywide on loans where FannieMae is the investor...........so they won't be able to tell you anything about the program at the number given........the paperwork normally just shows up on your doorstep.......so keep checking for that.............

If that happens and you have questions on the docs let me know.........

Call into this dept. and anyone there should be able to assist in telling you when the paperwork might arrive..............
1-800-405-0078

Please let us know what you hear........

[Tmar898]

It was my understanding that requirements for the Homesaver Program is that you had to be late on your mortgage payment. I am current.

Tracey, How does the process work? Will I actually receive paperwork reducing my payment and interest? Who do I make my Sept 1st payment to?

[Tracey]

My understanding is you should receive a letter in the mail about the rate adj, the lenght of time and a new payment. I would call that 800-405-0078 and ask them to clarify the details and to change them if necessary. They have much clearer information than the Home Retention number in India. They changed my rate to the intro rate in mid July but I did not know that until I called Tabitha and sent me a letter in August.

Good Luck!

[Tmar898]

Tracey,
Thanks for your reply. Do you think I should contact Tabitha today? Or wait a few days? So you did not receive your paperwork in the mail until you called Tabitha? You did state you payment was reduced right? Because I need my payment reduced- just wondering if that will be an option for me.

[Tracey]

I would call her now. Why not. I waited 3 weeks for the "Heart" paperwork. I spoke with Tabitha had her paperwork in 5 days and the "Heart" paperwork showed 2 days later.

She is really nice and you are only looking for information.
I called her on a Friday afternoon and had an answer back that evening.

[Tmar898]

Cat,

Quick Question: Up until today 8\27\08 I was unable to make payments to my account online because I initiated a workout on July 31st. My call back date was after August 25. Called back on Aug 26th was told I'm in Fast Track Heart Program. Now the system states:

Documents Received

Processing Date Workout Type Document Type 07/31/2008 Modification WORKOUT OTHER 07/31/2008 Modification WORKOUT OTHER 07/31/2008 Modification VERIFICATION OF DEPOSITS/ASSETS The above list is real-time and reflects the documents processed to date for this account. We may have received additional documents recently sent to us that have not been processed and therefore do not appear in the list. Please do not call us to check the status of a document not showing in the list as our representatives will not be able to provide any additional information than what is shown here. Thank you for your patience.

Current Workout Status

No Results Found For This Account Now, today I'm also able to make payments again online on my account. Of course I was told by CW to wait for my documents to come in the mail this is day 2 of 5 days to wait until I call back. Should I be concerned that the system now allows me to make payments again? Does anyone know what this means? Or has had a similar experience to let me know what's going on now?

[Maurice Bedard]

Tmar898,


I don't recall anyone posting that they were not able to make payments and then the status changed.........
Did you call into the number I provided to ask that dept. to go over the info with you?

[Tmar898]

Hi everyone, Haven't posted in a while- was waiting for mod paperwrk. Received it Sept 11, 2008. a little concerned about what I'm reading:

First Point:
Paperwork states this agreement will bring your loan current. MY LOAN IS CURRENT.
My loan set to adjust in Nov 2008.
The paper work DOES NOT say what the modification is.
After the first paragraph there is a large empty space, which is probably where the terms should have been written. The only thing it states is my payment is due Oct 1, 2008 in the new increased amount, which is $100 lower than the proposed adjustment rate-but what are my terms? It does not tell me the terms of the modification. No one at the Loan counseling Dept 1800-405-0078 or the Heart Team 1877-643-2788 is accepting the fact that I have not been offered any modification terms!
One of the reps at Heart Team first told me I had a mod that would be frozen for 5yrs, but when I continued to ask her questions and try to explained I was not offered any written terms, she then said I don't have any modification this was to bring my payment current. My payment is not late-has never been. She said just sign the paperwork and send it back. Or you know you have the option to decline the offer. BUT THERE IS NO OFFER. I of course will accept the freeze for five years- but it doesn't state that. What should I do? I just would like to see the terms they are offering me in writing, so I can sign and notarize and send it back. What is my next step? I am being bounced back and forth between the Loan counseling Dept and Heart Team because both are saying they DON't make the terms. Hrt Team says I must speak with Loan Counsling Dept and LOan ?Counslng Dept says I must speak with Heart Team. My next step?????

[Maurice Bedard]

That number is to the executive team.............


and ask for the correct paperwork to be sent to you........

[tonyi]

HEART has been somewhat helpful for me. I had requested a rate reduction when i was still up to date. The first thing Country wide sent me was a one month modification. Wich was not what we requested. We wanted a payment reduction. HEART called me today to see if i had any questions but it was about the original mod and they see nothing yet from countrywide on the second one and to just wait and something should show up.. Ugg I HATE waiting. Everytime i call countrywide they tell me it's in process and should hear something in 10 days or so. But still nothing. I've tried some of the numbers listed here but none of them work anymore they go to normal countrywide customer service.

Any new numbers i can use?

[Maurice Bedard]

tonyi,


I gave you your own thread for updates and questions that you have here..........so we can follow your story in your own thread..................
http://www.loansafe.org/forum/countr...ification.html

[tonyi]

thank you Cat