New Countrywide programs - Loan Modification Forum

luvdtr · 11-18-2008, 12:34 PM

I just had a quick question. Upon calling Countrywide today i was told I do not qualify for the Home Retention plan going out on Dec. 1st. But that my account is flagged that I might qualify for the program rolling out on Dec 15th. The lady told me it was the dot bill that Bush signed and was announced on Nov 11. Does anyone know what she's talking about? I have searched the internet and can not find any info on this plan. I asked her for a web address or something but she couldn't give it to me.

Moe Bedard · 11-18-2008, 12:48 PM

Did your loan mod go through?
Are you in default 60+ days?

luvdtr · 11-18-2008, 12:50 PM

I received a loan mod back in April 08. I am not late 60 days yet. I actually just paid Octobers payment today. Now I am just behind Nov. I did ask if I shouldn't pay and wait but they suggested that I pay Oct and then see what happens on Dec 15.

Moe Bedard · 11-18-2008, 12:56 PM

The newest program that was announced was for FannieMae/FreddieMac backed loans and I believe it was starting on Dec. 15th....but they were looking at loans that were 90+ days in default.....so you may want to ask if this is what they are referring to...........

luvdtr · 11-18-2008, 01:17 PM

I can't find info on that either. so basically trying to be as responsible as I can and paying October might have cost me this program.

luvdtr · 11-18-2008, 01:24 PM

I finally found it Streamlined Modification Program: The New Homeowner Bailout From Fannie Mae And Freddie Mac so pretty much I ruined my chance by paying Octobers mortgage. But is Countrywide with Fannie Mae and Freddie Mac? It says it's only handeling those loans. So how would the almight "computer screen" show that I am a candidate?

Moe Bedard · 11-18-2008, 01:41 PM

It isn't the point of being with them.................FannieMae and FreddieMac are investors on the secondary market and they back a very large portion of servicers loans like CW.............
See if Countrywide will tell you if your investor is one of them............they are not at liberty to.......but once in a while you will get someone that will tell you.

jdett · 11-19-2008, 04:26 PM

I was told the same today about the DODD bill. it is DODD not DOT.

11-18-2008, 12:34 PM	#1 (permalink)
luvdtr Member Join Date: Mar 2008 Posts: 7 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	New Countrywide programs I just had a quick question. Upon calling Countrywide today i was told I do not qualify for the Home Retention plan going out on Dec. 1st. But that my account is flagged that I might qualify for the program rolling out on Dec 15th. The lady told me it was the dot bill that Bush signed and was announced on Nov 11. Does anyone know what she's talking about? I have searched the internet and can not find any info on this plan. I asked her for a web address or something but she couldn't give it to me.

11-18-2008, 12:48 PM	#2 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: New Countrywide programs Did your loan mod go through? Are you in default 60+ days? __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

11-18-2008, 12:50 PM	#3 (permalink)
luvdtr Member Join Date: Mar 2008 Posts: 7 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: New Countrywide programs I received a loan mod back in April 08. I am not late 60 days yet. I actually just paid Octobers payment today. Now I am just behind Nov. I did ask if I shouldn't pay and wait but they suggested that I pay Oct and then see what happens on Dec 15.

11-18-2008, 12:56 PM	#4 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: New Countrywide programs The newest program that was announced was for FannieMae/FreddieMac backed loans and I believe it was starting on Dec. 15th....but they were looking at loans that were 90+ days in default.....so you may want to ask if this is what they are referring to........... __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

11-18-2008, 01:17 PM	#5 (permalink)
luvdtr Member Join Date: Mar 2008 Posts: 7 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: New Countrywide programs I can't find info on that either. so basically trying to be as responsible as I can and paying October might have cost me this program.

11-18-2008, 01:24 PM	#6 (permalink)
luvdtr Member Join Date: Mar 2008 Posts: 7 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: New Countrywide programs I finally found it Streamlined Modification Program: The New Homeowner Bailout From Fannie Mae And Freddie Mac so pretty much I ruined my chance by paying Octobers mortgage. But is Countrywide with Fannie Mae and Freddie Mac? It says it's only handeling those loans. So how would the almight "computer screen" show that I am a candidate?

11-18-2008, 01:41 PM	#7 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: New Countrywide programs It isn't the point of being with them.................FannieMae and FreddieMac are investors on the secondary market and they back a very large portion of servicers loans like CW............. See if Countrywide will tell you if your investor is one of them............they are not at liberty to.......but once in a while you will get someone that will tell you. __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

11-19-2008, 04:26 PM	#8 (permalink)
jdett Senior Member Join Date: Nov 2008 Location: Virginia Posts: 40 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: New Countrywide programs I was told the same today about the DODD bill. it is DODD not DOT.

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode