Countrywide is so stupid

[Feemama]

Can the Office of the President see things on your account the customer service reps can't? I talked with yvette from the Office of the President friday, she said the notes from the negotiator said they were reseting my ARM interest rate to the intro rate and fixing it for five years, and they would be sending a letter to confirm. I called back today and got just the regular customer service people they said there was a letter sent out friday but could not see the details, so she routed me to the home retention team, this crazy person couldn't even see I applied for a rate mod and wanted to collect late fees, then she said I was due for another adjustment in november and again in may. I just had my first adjustment last month and my next is due in february. Is she crazy??? The office of the president was closed, so I couldn't speak to them. Should I be worried there is no record for these other individuals to see, and they have no clue what is going on? I thought everything was fine until I got ahold of these crazys'

[Cat Damiano]

Just call Yvette back tomorrow when she is there................and don't listen to the CSRs

[Feemama]

Why does CW block access to web payments during loan mods? My payments are current as of October, but after that payment my loan mod started and payments are not accepted online, so what have the rest of you done when yours were blocked????
Thanks

[Cat Damiano]

other members have used CheckFree

this thread explains it.............
Pay Countrywide while going through Loan Modificiation

[Feemama]

I have an 80/20 mortgage. 80% with CW 20% with US bank. CW is an adjustable 3/27 and US bank is a 15 year 10.99 fixed balloon. I adjusted in Sept for the first time, relized I could not refi cause I was upside down, like everyone else. Started the loan mod process Oct 3rd, showed $70 negative on the financials and yesterday 11/21 they said they couldn't do any modification for us besides reset it for five years because "we could afford it" and they show equity in the property, which is so stupid because he said they only look at what I owe them not both mortgages together, so since I owe them 101,300 and the broker appraisal came in at $125,000 they won't consider the other 20% of the mortgage I owe US bank and therefore they say that is equity in the property, so STUPID I owe a total of $143,000 for the property and it appraised at $125,000 and they claim that as equity, they are sososososo stupid.....My question is should I go for more, restart the process....I can't let them win....I had to give up our health insurance plan for the entire family, so I could "afford" the new mortgage payment....and they didn't have a problem with that at all....I even clearly stated that in my hardship letter....Any advise?????

[Cat Damiano]

The decision to turn down a modification or not is a personal one and only you can make the decision that is best for you and your family moving forward. The modification is up to the investor on the loan so call and ask another rep if this is the only option that the investor on your loan has.

The reason why Countrywide doesn't care about a second lien......... is that they are looking at it from the standpoint of foreclosure..............they would make all of their investrment back on a foreclosure and the foreclosure would wipe out the second lien.

[Feemama]

The said this was some new program to roll back arm for 5 years and it was not a mod, nor did they need investor approval. Since my second has alot to loose, do you think they would be up for a mod even though it is a fixed at 10.99???

[Cat Damiano]

It doesn't hurt to give it a try................we have seen second fixed rates get lowered.