Home Loan Forum - LoanSafe.org

luvdtr · #1 (**permalink**) IP: 99.51.2.138 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.

Cat Damiano · #2 (**permalink**) IP: 67.177.243.104 11-18-2008, 12:48 PM

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

luvdtr · #3 (**permalink**) IP: 99.51.2.138 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.

Cat Damiano · #4 (**permalink**) IP: 67.177.243.104 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 · #5 (**permalink**) IP: 99.51.2.138 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 · #6 (**permalink**) IP: 99.51.2.138 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?

Cat Damiano · #7 (**permalink**) IP: 67.177.243.104 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 · #8 (**permalink**) IP: 71.163.142.185 11-19-2008, 04:26 PM

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