Act 91 Letter

[Plans A-Z]

So I have this letter , and it's not the first. We've been in repayment before, fallen behind, gotten a repayment plan that is so hard to keep up with because it adds almost $600 a month to our regular payment, which is already high for us. But we work through it and catch up again. Each summer paying for childcare when the kids are out of school puts us behind and I always think I'll catch up and boom this letter comes.
So I made the call right away, didn't want to do repayment or modification, just wanted more time to catch up. They extended my date from Oct 2 to the 7th.( to pay the total amount due) As the 7th was getting closer and groceries, gas and car repairs took the front seat I saw I was unable to come up with the full amount due on the 7th so I paid what I could ( about half) last week. The payment hasn't posted to my account but it does say it's on it's way to the "payment processing center" scary...to me that means it may be refused.
The man I spoke with after I got the letter was very nice and said now if you can't make the payment by the 7th you need to call us...

So when I call, I'm really nervous about hearing that I can't have any more time etc and they won't work with me. I feel by the end of the month I can send the rest due but I'll still be a month behind.
I want to call and ask but I'm not sure what they'll say. I'm losing sleep!! I don't want to sell, or set up a 6 month repayment, but I can't come up with the amount due by the 7th.

What would any of you do? Anyone special I should talk to? What are my chances they'll give me more time? And does the payment I sent count for anything or will it be returned? I know the guy said the letter gets sent when you are 3 months behind. So making half of the payment , to me, got me less than 3 months behind. But if they don't count it, I'm back to owing the whole amount.

Any help would be so appreciated. These people scare me based on the different stories I've heard here and other places.

[Cat Damiano]

Hi Plans A-Z,

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

What is the interest rate at?
Is it fixed or adjustable?
If adjustable when is it adjusting?
Are you paying interest only or PITI?
Are your taxes in default also?
What state are you in?

[Plans A-Z]

I'm in PA, my taxes are part of my mortgage, so I don't know if that means they are in default too, and it's a fixed rate.
Also, I don't know what PITI means but I know I'm not paying much on principal.

Thanks for the quick response.

[Plans A-Z]

Oh yea and I have a great rate 5.625.

Also we did a 80/20 so I have a Heloc and that is current.

[Cat Damiano]

That is a great rate............but in order to see what options that you would have, you would need to call the Home Retention Team and see if they will extend some time for you.........

Countrywide Home Retention Team
1-800-669-6650

[Plans A-Z]

Any tips on who in particular to speak with? Last time my agent was very nice and helpful. However, I don't recall his name ( dummy me didn't write it down) so I will just end up with whoever answers first, right? Or is there a specific person someone can recommend to ask for?

As you see, I'm quite paranoid and afraid to make this call.

[Cat Damiano]

Your file would need to be assigned a negotiator to have a specific contact, so you would need to find out what options you have by calling in first.......

[Plans A-Z]

Cat, thanks for getting back to my posts. It's nice to have some one to "talk" to about this!!

So I called (!!!!) today and got a nice lady, Cherise. Took some info from me, I had said I could catch up by the end of the month and is that possible etc or will my payments be refused and she said she had to take this info from me and see what they could do. I did say I didn't want to do a repayment and spread out the debt over 6 months. But in the end, it didn't end up like I wanted. She said I prequalified for some loan assistance but I would have to wait for someone to call me back, go over more stuff, not sure what, and then I would accept it and the could help me get current. This process she said takes 30-45 days. So of course my question was what happens with the foreclosure? And she said all proceediings continue until the loan is current.
Isn't setting some plan up with me showing I intend to pay and thus hold off the proceedings? I mean 2 more months of this? Plus she didn't know when someone would get back to me.
I asked if I could keep making payments and that my last one hasn't posted and she said they can't tell me not to make payments but they will be held until a full months amount has been received.

Have I helped my situation at all here? My intent was to stop the process of foreclosure and continue to catch up but it looks like that isn't happening.

If I do catch up by the end of this month, will that stop the proceedings?

Should I call back and try another route, like a repayment program? Last time I was on one no one had to call me back, the rep did it right then and there when I called in. So I'm thinking they are doing something else with me.

How long till the sherrif shows up with papers!!??? That's what I really am dreading!! Explaining to the neighbors what that was about!!!
Anyone that can calm me down, please feel free to do so. I appreciate your responses Cat.

[Cat Damiano]

My guess would be that you might have FannieMae for an investor and they are looking into the HomeSaver program to help you get caught up.......or to modify the arrearage into the principle balance to get you caught up, because you do have that good rate.........

If the letter is a Notice of Rights letter..........that is a cure letter for the default...........you would have some time here to see what options you are going to be given because you have not received an NOD or a sale date. If you catch up the payments by the end of the month, that should take care of the default and it should remove the threat of foreclosure.............

What state are located in?

[Plans A-Z]

I'm in PA. Again, thanks for getting back.

I called again later today and spoke with another woman, asking her if this was a good option ( whatever it was) or is repayment over 6 months better to stop the foreclosure.
She told me what they were trying to set up was called Homesaver Advantage or Advance I don't remember. It is basically a third party that works with Countrywide and they pay Countrywide what I owe in late payments then I pay the third party. She said it should be all said and done in a month ( setting up) and that we are currently not in foreclosure but since our letter expired Oct 2 she said proceedings can start "anytime". She also said I would be getting papers in the mail to sign to set this up and didn't think I would get a phone call.
Since this takes 30 days, I wonder if I should bother seeing I feel I can catch up in 30 days.

So all in all I feel better, I'll wait and see what comes in the mail.

Hope this thread helps some other people with questions about this Act 91 letter. I did a search and found no other threads addressing it. I am not sure if others are calling it something different. I would just think other people would have gotten this letter too.

Thanks!!

[Cat Damiano]

Well that is exactly what I posted and thought it sounded like they were looking into in my post above...............

That would mean that FannieMae is the investor on your loan........

Here is the info on it for you.........
https://www.efanniemae.com/sf/servic...veradvance.pdf

[Plans A-Z]

I haven't been getting emails saying there's responses to this thread, but again, thank you for your time. I will click on that Fannie mae link.

As of now, the payment they received on Oct 1 ( a customer serv rep told me it was "there, we got it Oct 1, it should post soon") and still is has not been credited to my acct. So I think I am right in that they won't take my payments unless it's the total amt due. However the first woman I talked to said yes you can keep sending payments but they have to be at least one month's mortgage or we'll hold it till we get the whole amount.

Stressing, slightly, that despite my attempt to catch up I'm not getting the payments credited. And it's been 7 days, that's more than enough time.

I don't get why they wouldn't take money that I owe them

[Plans A-Z]

Well here's an update.
Continually confused by these CW people.

Finally, the payment went through, took 9 days from when they received it.
Now I sent another ( again, trying to "catch up" by month's end) and of all things it posted 2 days after I sent it!! Let's just say my checking acct was planning on it taking a tad ( 1 day) longer. That's neither here nor there, I'm glad they accepted another payment.
Now it says on line that my HELOC "requires special attention" and I'm current on that! What the heck.
Then, after hearing I was going to get hooked up with some Homeowner Advantage or something like that, now they have a note on my account ( on line viewing) that I do not have any pending workout set up!
Plus I got another Act 91, save your home from foreclosure blah blah blah today!! With another date for the total amt due...
Do these people not have records or notes attached to any of our accounts saying we've been in touch?
Last time I looked on line there was a note that I was in the process of getting assistance and I would hear by Oct 27 and dont' inquire before then because that will delay the process..again, what the heck.

Confused, now I have to make another call, and another, and another....from what I have read here, I have to be persistant etc.
I saw notes about emailing a list of people at Countrywide in another post. Would this be a good route?

Anyone going through anything similar? Thanks in advance...

[Cat Damiano]

call the executive team to see what is happening with the Homesaver Advance program..............

1-800-405-0078