Countrywide Just Told Me to Sell My Home

[PENMOUSE]

Hi All, I'm been reading your posts for some time now and I've been working with Countrywide since July. They kept telling me I was referred to Heart because after they reviewed my finances they felt I qualified. Heart canceled my file twice since September and Countrywide kept reopening until yesterday.

The person I spoke with yesterday was in their hope department and he told me there was nothing they could or would do for me because I'm not yet behind on payments. So after after 4 months of yanking me around they've now decided I can't be helped.

My payment adjusts on December 1st jumping from $1,300 to $1,800 a month. We don't have an extra $500 a month. Even Countrywide after working our finances said we only show an extra $56 a month, but they won't help. Originally this was an 80/20 split because as the broker said, "You don't want to pay PMI and you can refinance in a few years." So together they will combine to being $2,300 + a month. We only make $3,600 a month. I don't know what to do.

The guy I spoke to yesterday suggested I sell my house to avoid any problems. I want to stay in my home. Can anyone help?

[PENMOUSE]

Quick side note about my above post. I spoke to 995-HOPE yesterday and they feel I may have gotten a predatory loan but they had not advice beyond speak to your lender.

[Cat Damiano]

Hi PENMOUSE,

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

You could call and see if your loan qualifies for the program that is beginning on Dec. 1st and go from there..............

1-800-669-6607

[PENMOUSE]

Hi Cat, What program starts on Dec. 1st? Thanks - Penmouse

[Cat Damiano]

Countrywide Financial - Real Estate Mortgage Lender - Home Loans - Equity Loan Mortgages

[PENMOUSE]

Just called the number for the 12/1 program and was told that only loans that have one mortgage qualify and that I don't qualify. Asked again if there was any way to work this out and they told me no because the computer decides.

[Cat Damiano]

another option would be to see if NACA has a program...........they utilize their own programs and they work with CW................

NACA

[alikeith]

I understand your frustration. No one really has any info they can give, except for waiting until Dec 1st. Its only a few more weeks so we just got to hang in there.

[starwisher]

my husband called the direct line to the program for dec 1st today and the rep he spoke to told him we dont qualify for their program, he didn't say why, just that we won't be getting any letter from them or invitation to apply...honestly don't know where to turn to at this point. he spoke of some possible program through another agency that will come available possibly in end of dec. early jan. that MIGHT be of help.. but that the dec 1st won't be for us.