need help dealing with countrywide's round around

[giv5yrarm]

Irene Vega from Chicago IL

I truly need assistance. i have a 5yr arm and my monthly mortgage payment is going to increase on Nov 1st 2008 i am no longer able to keep up with my payments. i have contacted countrywide repeatedly.. their refinance department was not able to offer me a refinance that would lower my monthly payment amount and they would only be able to go FHA with pmi... so i was directed to their home retention dept.. for weeks i attempted to call and each time i would get a representative in INDIA that were very hard to understand and not very helpful..

i asked for a renegotiation of my loan terms or a modification but was told that unless i had received a letter in the mail they could not help me.. and they could not send this letter to me. i then went in person to a countrywide branch office but was told the only department that can help me was the home retention dept and only by phone. ( very frustrating ) again i repeatedly called countrywide only to get misdirected all over the place.. their customer service department instructed me to ask for their national homeowner retention plan and they again directed me to the home retention team..

I finally got someone in the USA.. the representative went over all the details and took all of my financial information ... my assets, debts, income etc., and based on my information i was told that i don't qualify for any type of help,,, they said that my income falls short by $700 per month to cover my expenses and therefore i do not have enough income available for them to work with me on. (made no sense) .. the representative said she could only recommend that i sell my home, rent my home or find a second job to make up the difference in my income! and that maybe i should wait for some other type of help that might be available in the future.. and to check countrywide's website..(the website only directs you to call their home retention center.. vicious cycle)

i was of course displeased and gave up... my friend referred me to your website because she is currently also being assisted by your team in dealing with countrywide.

basically what i am looking to accomplish is to be modified to a fixed 30 or 40 yr loan at the rate i have now of 6.25% or lower. i would also need to stay in the range of $1800 to $1900 per monthly with taxes and insurance included.. this is the maximum i can afford if needed i know my credit score and i had my home appraised in september..

i have a senior in high school trying to get into college and a 21 month old toddler, seperated from my husband so i can only rely on my income alone. with the economy the way it is and everything so expensive i can barely put food on the table and i feel so defeated with countrywide.

Thank you in advance for your direction, suggestions or feedback on my situation..

[countrywidecustomer]

Hi, I'm sure someone will be along with much better advice that I can give you because I am in the same boat as you...coming on here looking for help and support but, have you asked for a 3 month Forebearance yet ? This will allow you to not pay your Mortgage for 3 Months and then continue Payments as normal after the 3 month period ends...I know you think you won't be able to pay even after the 3 months but it is worth a try to give you a break for a couple months, and allow you more time to work on a Modification. I know Countrywide seems to give everyone the run around....It's rediculous. It's basically because they don't care! They could honestly care less if we loose our homes.

[Moe Bedard]

Hi giv5yrarm,

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

The program that they are referring to is beginning on Dec. 1st........there is a direct contact number to see if you qualify for it..........

Homeownership Retention
1-800-669-6607


also Countrywide works with NACA if you need additional help.........
NACA


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

[giv5yrarm]

thanks for the suggestion, can you provide with a good contact number to ask for the forebearence.. you would think that all the countrywide employees i've dealth with would have offer me this or at least suggested it to me. do they offer forebearence to anyone or are there qualifications to meet? 3 months would be such a relief! your absoultely right they completly dont care at all about us we are just another account number.. God Bless..

[Moe Bedard]

The modifications are given by the investor on your loan..............just ask what options the investor on your loan has for you and if you qualify for the new program beginning on Dec. 1st.
The number you have been calling is the dept. that you would ask about forbearance.............

this number is a different dept. to see if you qualify for the new program...........
Homeownership Retention
1-800-669-6607






If they still give you the runaround try utlizing NACA to help............
NACA

[Feemama]

Whatever you do don't give up. I have a 5 year ARM that just adjusted for the first time last month. I called on 10-3-08 and gave them my financials, since it was on the spot they were all messed up, but she never said they couldn't do anything for me. I wrote my harship letter, faxed it along with paystubs, and then emailed it to every countrywide email address I found on this forum. I did this multiple times, and I kept calling almost everyday. I recieved a negotiator on 10/20 and on 10/24 they told me my interest rate will be reset to my intro rate and fixed for 5 years. This is exactly what I asked for in my hardship letter. So, call again and again be prepared with your financials and write a detailed harship letter, also state how you have been treated by the customer service reps so far and what they have advised you to do such as selling your house....you will get somewhere!!!!

[moesuga]

I also received the same vicious cycle/runaround, so I was surprised when I called to inform countrywide that I couldn't keep up with the homeloan combined with the heloc (rental property arm in neg am) and the rep said they were reviewing my loan for a modification. I called a week later and was told to expect the documents in the mail within two weeks. It's been three weeks and haven't received the docs so still waiting. I am three months behind in payments, but was told to inform the collection calls that I am working with the "heart team". The collection call reps will continue to call until the modification is complete, but do not hassle me when I tell them I'm working with the heart team.
I also have a homeloan that was modified with homecomings. I followed the info from loansafe, wrote a hardship letter and emailing to the address I got from loansafe. My homecomings loan was due to adjust Nov1 to $4800. The mod reduced my current payment $500 with a 6% from 7.3%. Thanks loansafe, because I would have not have known the process if I hadn't stumbled on to your web site.

[princesskimmi]

I am so distraught right now. I like you was told that there shouldn't be any problems with my request for a rate freeze. I was told this on Oct. 15th. I called back on the 20th and was told by CW that my docs were being drawn up and because I had a Bank of NY loan it would be really simple. The customer service rep said that CW has carte blanc with Bank of NY to make modifications. I should be receiving my docs fed ex by Nov. 7th.

I went online today and notice my account looked different. I called and got another customer representative who said that I am no longer on the fast track but am no with the HEART team. It will be another 30-60 days before I have an answer.

I am borrowing money as it is to stay current on our home loan. I thought I would have this all figured out by Dec. 1st. Now, I am being told I am in a different department and there is not guarentee they will be able to help me.

I am in tears right now and cannot believe this is happening!

[giv5yrarm]

update,
i called countrywide to find out about my case and BAD news.. they told me i dont qualify for anything at all again! not even with my hardship letter or circumstances... they just wont help me.. the rep states that my account is not even flagged for the DEC 1st launch of their home retention program.. basically im just screwed. they told me i should consider selling, renting, getting a second job, adding additional income or paying off my debts.. duh if i had money dont you think i would have done that alrdy.. i told them i cannot pay this month and they said collection activity will continue.. WHAT AM I TO DO NOW.. my mortgage is $2103 per month! and im bringing in half of that per month.. im so devastated.. is ther any other suggestions

[Moe Bedard]

Irene,

Have you contacted NACA to see if they can help you with their program?

NACA

[giv5yrarm]

i just submitted my information and request for help to NACA and i have scheduled a phone interview.. not sure what documents they need

[Moe Bedard]

Their counselors will let you know what to get together..........

Please keep us posted on how it goes.....

[giv5yrarm]

update, i have submitted documentation to NACA.. and waiting for a response on any help they can provide. while waiting on that i have continued to contact countrywide asking for help. to no surprise still the same sad story sorry we cant do much for you has been their response. I asked them to accept a payment arrangment of half a payment for november.. I was told they cant accept that and even if i submit a partial payment it would not be applied toward my account it would just sit in a misc posting? (not sure what that means) and i would incure latefees and collection activity will continue. I dont know what to do? ** need to know if and how the goverment assistance announced this week would be something we can all benefit from.. if there is anyone out there with info on this new goverment plan please share..

[Moe Bedard]

If you were referring to the announcement today.........it would seem that it ended up being for FannieMae and FreddieMac loans that are 90 days + behind...........

here is a thread started with that info..........
Treasury to Join FHFA, GSEs, HOPE NOW to Announce Streamlined Modification Program

[giv5yrarm]

yes just saw the news and got the info on the mortgage bailout too bad for us countrywide folks.. any suggestions or info on the partial payment i am trying to make.. should i submit the amount i can even if they are telling me it wont be posted to my account? i am so VERY FUSTRATED.. thanks for the info

[Moe Bedard]

If you only have a partial payment they will not credit it to your account until you have the full payment..........they will put it in a suspense account accruing fees until the full payment is made........at this point you might want to hold onto it and see if there is a good faith payment required for a modification.

[giv5yrarm]

fyi, i recieved a phone message from a lawyer named "deanna" she stated that she can assist me with my mortgage and she is a lawyer representing not sure if this is legitimate or not ... has anyone else recieved such calls? i havent responded to this message. i called countrywide today (again) for any changes in their policies they took my financials again and they said i dont qualify for anything again. however they said they are not allowed to tell me who the invester on my loan is. i asked why they said its against their guidelines to do so. is this true? why is this such a top secret? .. still havent been able to make a full november payment. thanks for all the help..

[dasmom]

I know that NACA's program is called Home Save. Is it possible that "Deanna" was calling you from NACA?

[giv5yrarm]

Received another call from “Deanna” ? I saved the message on my cell phone... they are not with NACA not sure what this is about but she states that her firm can secure a modification for me ... sounds fishy... has anyone else received these types of messages?
Word of advice... if you simply can’t make ends meat and have exhausted all your resources don’t do what I’ve done for the past few months and continue making your payments... I’ve borrowed from family and friends, I’ve withdrew from my 401k, I have even gone to (check n go) pay day loans! The worst part is I have gone with minimal food in the fridge for my kids... what I was thinking! Big mistake...
CW sees that I have been paying and I’m current but they don’t care how I’ve been struggling to keep up. They only see that I have NO hardship! To them I’ve been current and that’s another factor as to why I don’t qualify for anything. So for the month of November I truly had nowhere else to pull money from and I really couldn’t make this month’s payment maybe now CW will help... ((How twisted is that))!
I’ve turned to NACA for help and they will be working on my behalf with CW since they seem to have a human touch and a heart to know that I truly need help.... not sure how this will turn out but I’m hopeful. NACA seemed very positive of getting somewhere with CW they claim they have helped hundreds of people. They have contact information that we don’t have and they deal with departments within CW that an average customer has no access to. CW reps are just trained to collect funds they are with the loan servicing departments... NACA deals direct with CW loan counselors and have insider information we are not privileged to... hope this helps... will keep an update on my progress. God Bless...

[FLgata]

Good Morning Irene,

I totally understand how you feel. It literally broke my heart to read that you had to minimize the food supply in order to pay your mortgage. I can sympathize with that, because I have been doing the same thing for the past year. If it weren't for friends, I would have gone many of nights without a meal . I couldn't imagine going through this with children.

I couldn't pay my mortgage in October and have been sitting on my November payment because I am awaiting the Dec. 1st program. I know I shouldn't be putting all my eggs into one basket, but if they don't work with me, I am ready to walk away from this home. The quality of life just isn't worth it anymore! I actually went grocery shopping for the first time in months two weeks ago.

[starwisher]

like all of you we are shocked to find ourselves in this position. we work in commissioned sales. my husband in car sales. we have gone through our savings as well trying to keep up.. we do not understand how countrywide blows us off everytime we try to work something out. but they say they are willing to short sale our home for 80 or more thousands less than we owe, yet the investor wont work with us to do the same for us.we continually get non english speaking reps who just say the same old repeated over and over just sell your home.. to whom??.. the market here is so bad . we needed to get our taxes down and our apprassel was in the 300's when we had bought in the mid 500's... we have tried so hard this year to hang on to it. we lost alot of my 401k in the stock drop off,and our wages are half what they were last year.. but still countrywide is starting forclosure on our home. they wouldnt allow a forebearance and now they say we dont qualify for modification or help in anyway.. this is ridiculous for so many of us. we cant refinance, we were so hopeful when all the govt programs were talked of. and then found out we don't get help from those programs. then we heard about citi bank stopping all their forclosures and working out modifications for their clients . and doing so quickly. we waited 90 days before cw told us we weren't getting their help... WHY???????????.

[mzwelch07]

Originally Posted by starwisher

like all of you we are shocked to find ourselves in this position. we work in commissioned sales. my husband in car sales. we have gone through our savings as well trying to keep up.. we do not understand how countrywide blows us off everytime we try to work something out. but they say they are willing to short sale our home for 80 or more thousands less than we owe, yet the investor wont work with us to do the same for us.we continually get non english speaking reps who just say the same old repeated over and over just sell your home.. to whom??.. the market here is so bad . we needed to get our taxes down and our apprassel was in the 300's when we had bought in the mid 500's... we have tried so hard this year to hang on to it. we lost alot of my 401k in the stock drop off,and our wages are half what they were last year.. but still countrywide is starting forclosure on our home. they wouldnt allow a forebearance and now they say we dont qualify for modification or help in anyway.. this is ridiculous for so many of us. we cant refinance, we were so hopeful when all the govt programs were talked of. and then found out we don't get help from those programs. then we heard about citi bank stopping all their forclosures and working out modifications for their clients . and doing so quickly. we waited 90 days before cw told us we weren't getting their help... WHY???????????.

I feel your pain...we have also been denied everything...we are going to try Hope 4 Homeowners...go to www.hud.gov and look it up. It is one of our last chances...CW is a joke! They LIE, LIE, LIE! They do not want to help out the homeowner and when you call it is like talking to them for the first time.I found out yesterday that FreddieMac is the investor on our loan (CW says we have a conventional loan) They couldn't even tell me that...*** told me when I gave her the letters FHLNC....I'm just disgusted with the whole thing! I'm glad loansafe is here... At least they can help us understand some of the crap they throw at you!...MAYBE WE CAN HOPE THAT CW WILL BE VISITED FROM THE GHOST OF CHRISTMAS PAST! I DON'T KNOW HOW THEY SLEEP AT NIGHT! MAYBE WE NEED TO GET MIKE MOORES INVOLVED! THEY ARE A BUNCH OF WORMS!!!!!!

[mzwelch07]

Originally Posted by mzwelch07

I feel your pain...we have also been denied everything...we are going to try Hope 4 Homeowners...go to www.hud.gov and look it up. It is one of our last chances...CW is a joke! They LIE, LIE, LIE! They do not want to help out the homeowner and when you call it is like talking to them for the first time.I found out yesterday that FreddieMac is the investor on our loan (CW says we have a conventional loan) They couldn't even tell me that...*** told me when I gave her the letters FHLNC....I'm just disgusted with the whole thing! I'm glad loansafe is here... At least they can help us understand some of the crap they throw at you!...MAYBE WE CAN HOPE THAT CW WILL BE VISITED FROM THE GHOST OF CHRISTMAS PAST! I DON'T KNOW HOW THEY SLEEP AT NIGHT! MAYBE WE NEED TO GET MIKE MOORES INVOLVED! THEY ARE A BUNCH OF WORMS!!!!!!

I was glad to hear back from you...The EXACT things happens to us with CW...I'm very down.....my husband is at the point that if they do not want to work with us so be it....we will try our other options. Can I ask, do you have a subprime or conventional. If it is conventional...find out who the investor is....should say on your paperwork. We found out that CW has our paperwork, but because we are conventional FreddieMac is our investor and they have a program coming out on the 15 of Dec. If you do, let me know and I can give you that link which explains more about it.
Just all makes me very sad. We can own our part in this....just REALLY want to keep my home...having a hard time with accepting what is happening...it seem surreal. I'm very scared. Nice to know that we are not alone.

[giv5yrarm]

sorry havent checked comments lately .. thank you for all the advise.. i have a conventional loan would appreciate any and all links for help.. bank of america is my bank and they bought countrywide.. and i tried to go thru my bank direct only to be told they cant help either because i am late on my loan.. lord.. how insane.. so it seems the bail out money major banks got from the goverment will be used primarily to establish new credit and not for retention type loan considerationsis to help us folks so thats why bank of america is probably not interested in helping.. still hopefull that some doors will open up for all of us

[giv5yrarm]

still nothing from countrywide.. still waiting on NACA.. i have once again tried to refinance with an outside lender they have offered me an fha 30yr fixed at 5.5% intereset paying off 3 debts my monthly mortgage payment will be $2022 including taxes and insurance.. with an LTV of 95% my loan amount will be 303K.. its definatley a good deal ill be saving about $200 a month by eliminating the debt.. however my concern is .. do i take the deal? my home's value will probably drop and if i have to sell for any reason i definately might not be able to get what im borrowing?? then again i might not be able to sell at all..... my dilema... DO I WAIT FOR NACA they said might have an answer by janurary.. or do i go ahead with this loan with the scarry job market... lord.. has anyone had to make a similar decision and what was the outcome? i might be able to close before christmas.. do i take the gamble.. what if NACA's offer is better?