California Attorney General Settlement - Loan Modification Forum

sbas2k · 01-09-2009, 09:09 AM

Hi there, been reading these helpful forums for awhile, this is my first post. I have a similar story to others, in a Pay Option Arm Loan except my house is about $300k upside down. I also am going through a hardship (divorce) and was denied 12/31/08 due to what they perceived as lack of hardship because I was not behind in payments I guess at the time (started my loan mod. request early November). Since then I have not made December and January payments.

It seems like everyone is getting denied directly through Countrywide. I was told a few times by people with Countrywide that my loan was covered under the Countrywide deal with the State of California agreement. Has anyone qualified for this program and if not, should we start writing letters to the Attorney General?

gray517 · 01-09-2009, 09:16 AM

only cw can tell you if your loan qualifies, I think 1 of the problems is you have to be 60 days in default to qualify regardless of loan type. when I called them in september no help, went to naca, called them in november I was angry that there was still no update (naca was waiting on cw to review proposal) CW told me I qualified for the 12/1 thing (120 days behind and subprime fixed) had me send in paystubs and still I wait for their response, thank god for naca! who got their proposal approved, new low rate for the life of the loan. If you are now 60 days or more behind i would call them again and keep calling till you get answers, or you can try naca

https://www.naca.com/refinance/refin....jsp?menu=refi

01-09-2009, 09:09 AM	#1 (permalink)
sbas2k Senior Member Join Date: Jan 2009 Posts: 57	California Attorney General Settlement Hi there, been reading these helpful forums for awhile, this is my first post. I have a similar story to others, in a Pay Option Arm Loan except my house is about $300k upside down. I also am going through a hardship (divorce) and was denied 12/31/08 due to what they perceived as lack of hardship because I was not behind in payments I guess at the time (started my loan mod. request early November). Since then I have not made December and January payments. It seems like everyone is getting denied directly through Countrywide. I was told a few times by people with Countrywide that my loan was covered under the Countrywide deal with the State of California agreement. Has anyone qualified for this program and if not, should we start writing letters to the Attorney General?

01-09-2009, 09:16 AM	#2 (permalink)
gray517 Senior Member Join Date: Nov 2008 Location: Florida Posts: 627	Re: California Attorney General Settlement only cw can tell you if your loan qualifies, I think 1 of the problems is you have to be 60 days in default to qualify regardless of loan type. when I called them in september no help, went to naca, called them in november I was angry that there was still no update (naca was waiting on cw to review proposal) CW told me I qualified for the 12/1 thing (120 days behind and subprime fixed) had me send in paystubs and still I wait for their response, thank god for naca! who got their proposal approved, new low rate for the life of the loan. If you are now 60 days or more behind i would call them again and keep calling till you get answers, or you can try naca https://www.naca.com/refinance/refin....jsp?menu=refi

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