What way do I go ?

[Dadoffive]

I have an adjustable rate mortage with countrywide, I owe double what my home is worth, I havent missed a payment, The most they will do for me is Lock My rate for five years. I feel like this is hardly a fix. Should I keep at them or is this the best I can Get ?

[alikeith]

sounds ike you may qualify for the new program starting Dec 1st. Have you called to look into that?

[Cat Damiano]

Hi Dadoffive,

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

Try calling like Ali suggested to see if you qualify for the program beginning on Dec. 1st..............
here is the direct line to check.........
1-800-669-6607

[Dadoffive]

I have, but every time I call it seems like a different story from them. They sent me papperwork Titled Loan Modification that was adding 6,647 dollars on my balance, it took two weeks for them to figure out why, I never asked them to let me skip payments and I didnt sign or send them back. Lastly my income statment shows me negative and they act suprised, isnt that the point ? Should it show negative or not ? and if so what is reasonable?

[Cat Damiano]

The modifications given are up to the investor on the loan and most of the investors on CW loans require a small surplus of disposable income left at the end of the month around $100-$250 is the average on the successful modifications..............they want to make sure that you can afford the house and expenses and not just the mortgage alone..............

[Dadoffive]

Thankyou. Is there any way I can find out who the investor is ?

[Cat Damiano]

Sometimes CW reps will tell you if you ask........but they are not at liberty to do so due to the pooling and servicing agreements that they have with the investors.............the investors do not deal directly with customers......they hire the servicer for that.