Just hired J. Griswold Law to handle Loan Mod w/ CW

[das0331]

Papa4,

I have hired the attorney and have gotten a very good response. I submitted all the paperwork. I have been in contact with LaFollette almost every day. He is great! Now they are going to go over my loan to see how this loan could of possibly went through. After the attorney will be contacting me by phone to go over what is goihg to be proposed to Countrywide, and then it is a waiting game. I have faith that this will work out. Patientce Patience Patience!!!

[ocalalady]

jd,
Any updates? We've got our fingers crossed here for you.
We just decided to go with G&A...sent in our info last night. I really do hope that we've made the right decision. Hopefully soon you'll have good news to report. :-)

[WCFAMILY]

We reeally would appreciate to hear how G & A have done for you. Status???

[das0331]

WCFAMILY

I just sent the last of my paperwork yesterday. The lawyer will then review all the paperwork and present an offer to CW. That is the next step. I will be contacted by the lawyer to go over what they will be presenting. Anything is better than dealing with CW reps!

[WCFAMILY]

Originally Posted by jdhines448

Update: Branden followed up with me on Saturday and sent me an email on Monday. A reviewer from Audit gave me a call about some documents that didn't come through on the fax machine. It is really nice to be kept in the loop during this process. The team at J. Griswold Law office has really been efficient and a pleasure to deal with. Thanks guys! Regards, Jeff

JD, Any luck yet, It's past 2/3>
All the best!!!

[WCFAMILY]

Thanks Das!
Good luck.
Anything to add regarding G & A's offer to CW, like current loan vs mod #'s?

[jdhines448]

Update! Update!

Countrywide finally sent us the long awaited FedEx package. The modification, which we have accepted, is as follows:

- All past due payments added to back of loan with no late fees added. This amounted to $28,000 (approximately 10 months). Loan is now current and we have paid a bunch of nagging bills, helped our kids and stashed $12,000 in cash.

- Step-rate interest-only for the next 10 years. It starts at 5.375% and gradually (over 6 years) works it's way up to 7.99% where it remains fixed for 4 years. Note: if we do make additional, non-required, principle payments, the interest due for the next months will decrease.

- At the 11th year, the loan becomes fully amortizing for the remainder of the loan (16 years) based on whatever principle balance is remaining at 7.99% per year. Of course, it will be very dependent on how much, if any, additional principle we will add each month during the initial 10 year interest only portion. We plan to kick in quite a bit in order to reduce the payment during the last 16 years.

- Our old, fully amortizing 30 year fixed payment was $2,417 for Prin and Interest, based on 7.99% fixed. The new first year interest only payment is $1,545, or roughly $900 less per month.

Summary: We avoided foreclosure and can now stay in our home. The pressure is off for the next several years and we have resolution to our "mortgage problem." There was no principle reduction, or permanently reduced interest rate, but we are grateful for the reduced interest for 6 years and to be current again. Having the option / flexibility to legitimately pay interest only has also given us some good "wiggle" room.

All in all, we have to say that the result was a big success for our family and that the Griswold Law firm was instrumental in getting this solution for us. Thanks to everyone at Griswold Law that helped us through this process! We appreciate it very much.

Also, thanks to LoanSafe.org and all the folks on this board that have been so helpful and informative these past several months. The support and information was invaluable.

In closing...., hang in there... the game is long and there are many cards drawn, but it definitely CAN workout (pun intended)! I wish all of you the very best of luck and hope you achieve excellent results.

Best regards,

JD

[Scott Hazlett]

We appreciate your kind words jd and we are happy for your improved situation. We thank you for your trust throught the process. Best of luck to you and your family.

[moyerfamily6]

Hi,

I was not aware that the law firm mentioned sponsored this site.


I am also sorry for taking so long to respond.

Please accept my sincerest aplogies.

Jason

[ocalalady]

Jason,
Have you gone with another mod firm and if so how is that going? We chose G&A, mostly from the info we gathered here. It was expensive and upfront cost...we had to put it on our credit card. I still pray every day that we've done the right thing. So far the people that I've dealt with (only the investigater so far) has been very nice and helpful. Now with the recent developments with President Obama's Homeowner Affordability and Stability Plan, we are wondering if we should have waited. In the meantime, I am asking the firm if they will consider the details of this plan and the AG settlement when proposing our modification.

[moyerfamily6]

I was gonna do it myself but they beat me to it.

I haven't gone with the other firm yet. If I can go with Griswald I might do that. They sound awesome.

[ocalalady]

Yes, so far they've been good to work with. I'm following other threads where they also are using them...everyone's experience adds to providing info and help to all of us. It's a great community.

Keep posting how you're doing...and best of luck! I think the hardest part is just being patient....ugh!

[ocalalady]

Originally Posted by moyerfamily6

I was unaware that it is prohibited to post other firms. .

I just reviewed the rules/regulations and I can see where this may have been viewed as advertising a 'for profit'....but I can see where you may have not realized this at the time. I probably would have easily done the same thing without knowing too!

[hockey17]

I contacted Griswold via e-mail no one got back to me