Well, here goes....

[kateistired]

This is our story-pretty much a variation on everyone else's.

We bought our house in 2004, with Countrywide as the lender. It is a sub-prime, fixed rate loan at 7.50%. We put 20k down on a 100k loan (rough figures). The mortgage to Countrywide was for 81,600. Things were going fine for a number of years until last December. In December of 2007, my husband was laid off for some time, making it difficult to make our house payments. I am a full-time student, so his is the only income we have at this time. We struggled to make payments, sometimes unable to make the full amount. He went back to work, and at that point we were five months behind. Terrified, I set up a repayment plan with Countrywide. The payments went from 792 to 1710 per month for the next five months.
I cannot afford more than double my regular payments! I tried to scrape it together, but it just wasn't doable. I called back assuming the worst, and I was told I might qualify for the new Homeowner's Retention Program. I gave them my financials again, and they told me I was pre-qualified for some type of loan modification. They called me the next day and asked me to fax in a month's worth of pay stubs, to verify income. That is all the info they wanted...(I asked 3 times, figuring it would save me a trip to the fax place).Is this the streamlined modification they talked about in the settlement? Is foreclosure really off the table while they are processing this? I never had a sale date or anything, they just said my file would be up for foreclosure review if I did nothing.
I checked my workout status on the Countrywide website, and it says
Workout type: Modification
status: processing
active processing
The message below it said not to call until 11/20, as it could slow down the process. Any input, comments or advice would be greatly appreciated!

[Cat Damiano]

Hi kateistired,

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

The program that you are prequalified for, doesn't begin until Dec. 1st..........this would be why they are asking you to call back in Nov. 20th.........they need this time to put everything together............

Here is the direct number to that dept. in case it is different from what you already have...........

1-800-669-6607


Please keep us posted on our progress.........

[gray517]

they didn't even ask about my other bills or debts, just if I was still unemployed, was husband employed, and if I wanted to keep the house, didn't tell me any details, just that I qualified for the 12/1 program, I asked if this mod attempt was part of the 12/1 deal and ken said yes. he said he updated my financials, I wonder if the debts/bills part could already be in system due to Modification given in feb 08 (hubby had pay cut) all they did was tack on payments to loan and that made payment even higher, but at that time I gave them all my debts. Ken didn't ask for any update info on the debts. said he was gonna approve it and send it over to the mod dept.?? we just needed to send in proof of income. would hear something in 10 days?