sending letter to CW

[lakesidejenn]

I have just been laid off and my job was our last hope to stay current with CW. Our home is only in my husbands name and we have only missed the payment for Jan. 2009 so far. We want to get the loan mod pappers in ASAP. Your oppinion would help on the letter:

I am writing this letter to explain the unfortunate set of circumstances that have caused me to become delinquent on my mortgage. I have done everything in my power to make ends meet but unfortunately I have fallen short and would like you to consider working with me to modify my loan. My number one goal is to keep my home and I would really appreciate the opportunity to do that.

After a substantial decline in income from my business I first began to get behind. Now, it’s to the point where I cannot afford to pay what is owed to Countrywide. It is my full intention to pay what I owe. But at this time I have exhausted all of my income, savings and resources so I am turning to you for help.

The majority of my business was directly linked to the real estate housing market. In October 2007 business began to decline and has continued to the point there is almost no business. I currently have one contract left. It is with the State of ffice:smarttags" />lace>Californialace> and has been indefinitely placed on the stop work list. I have been able to find some work with a company I have previously worked for; unfortunately it is not full time employment.

In the last year the resale value of my home has declined approximately 29% and because of that currently I am over $100,000 upside down. This has made it impossible to refinance for a lower rate.

I feel that a loan modification would benefit us both. I would appreciate if you can work with me to lower my payment by lowering my interest rate or lengthening my loan so I can keep my home and also afford to make amends with your firm.fficeffice" />>>
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I truly hope that you will consider working with me and am anxious to get this settled so we all can move on.

[MP927]

Hi lakesidejenn,
Our circumstances are almost exact! (Except for my husband is the sole breadwinner).
*** will probably give you more in depth advice but I am currently going thru NACA to have them negotiate with CW on our behalf.
The same thing happened to us 100k upside down and all resources exhausted. It's a miracle we made it this far. I always say we've been living on a prayer for 2 years .
You are not alone and let's be here for each other!

[lakesidejenn]

MP927,
Thanks for the encouragement. We have really been living on a prayer for the last 2 years too. Loan mod is our last hope for staying here. Hope it works!

[MP927]

You and me both! I am pulling for everyone here to get a payment they can afford and not be stressed out about.
This is an awesome forum community that is like a family. I feel comfortable and safe here and hope you get your resolution quickly and painlessly.
All the Best,
MP927

[Moe Bedard]

Hi lakesidejenn,

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

Your letter looks good...........contact CW to get the ball rolling and find out what the options are from the investor on your loan............

CW Home Retention
1-800-669-0102


Keep us posted on your progress..........

[MP927]

Jenn---HI...hope things are good today. Which address did you send your letter to?
I have about 4 addresses on file.
TIA xx

[lakesidejenn]

Good Morning!
Havent sent the letter yet. Sending it today. One more question did you send just the letter or did you send a monthly expense statement or copy of bills? Some things I have read said yopu need to send all of that.
Thanks for all the help.

[MP927]

Hi Jenn
I just sent my letter 2 days ago to the 450 American St address. I also enclosed hubby's most recent paystub and a copy of the intent to accelerate.
To this date we have not been in contact with CW, and we are just awaiting consultation w/ NACA. Right now we are only Jan. payment behind.
So I have no idea if CW will contact us at all regarding the hardship letter or if they will laugh and throw it in the trash
I propose that being technically 2 weeks past a deadline of the 15th is not considered late to them.

[bossguy66]

You need to call them in order to get the process started. If you qualify for a mod, they will provide a fax number for you to fax over proof of income, hardship letter & bank statements. I don't know what kind of results you will get by writing.

[MP927]

Originally Posted by bossguy66

You need to call them in order to get the process started. If you qualify for a mod, they will provide a fax number for you to fax over proof of income, hardship letter & bank statements. I don't know what kind of results you will get by writing.

We will follow up with a phone call but at least they will have some sort of correspondence from us in the mean time. They can note our file, and understand our position at this time.

[lakesidejenn]

We already called and have the fax #. We are also going to send everything by mail. We will see what happens.

[dthom]

lakesidejenn

Good luck. My husband lost his job too, I have a job but he was the one who made the most money. We went thru CW too, but are also currently working with NACA.