Old 02-23-2009, 10:51 AM   #1 (permalink)
Junior Member
  
 
spiffytiffy's Avatar
 
Join Date: Feb 2009
Posts: 1
Nominated 0 Times in 0 Posts
TOTW/F/M Award(s): 0
spiffytiffy is on a distinguished road
My countrywide story

In June 2006, My husband and I sold our home and purchased a larger home for $541,900. My mortgage lady suckered us into a negative arm loan with Countrywide. They promised that it would be 1.125 interest for one year and then we could refinance. There was a prepayment penalty for the first year. The very next month the interest rate went up to 7.0. My husband called CW and they said that there was nothing they could do. So, my husband started acting very strange. I did not recognize him any longer, I had no idea what was wrong. A year later, I figured out that he was embezzling from his employer just to make the CW payment. I had no idea. He did not want me to worry and he literally cracked under pressure. For him to embezzle was totally out of character, the whole community was shocked. He is now incarcareted for embezzling. I am now a single mom of five children. I have not been able to make a payment to CW since October 2007. I have tried working with CW this entire time and they say there is nothing they can do for me. I put the house up for sale and no offers in a years time. It was listed at $525,000 and the last list price was $449,000 and still no offers. When we stopped making payments, we owed $365,000 and our payment was $1800 a month. It is now $2900 a month and we owe $405,000 due to late fees and foreclosure costs. The house has been in foreclosure for a year and they have set 3 auction dates. The most recent one has been cancelled. I thought there was no hope for me to save my only asset, my home. I did try and do a loan modifcation and last week CW denied it stating that the investor does not want to do a loan mod at this time. I have not had a forensic loan audit done yet. Since it is a negative am loan, should I get one done? It was a stated income loan and they way overstated my husband's income. Does anyone know what I can do to save my home? I am desparate and I do not know where to turn. Please help me!


spiffytiffy is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote Share with Facebook
Old 02-23-2009, 10:57 AM   #2 (permalink)
Loan Safe Moderator & Homeowner Guide
  
 
Dan Bailey's Avatar
 
Join Date: May 2008
Location: Wilmington NC
Posts: 1,407
Nominated 0 Times in 0 Posts
TOTW/F/M Award(s): 0
Dan Bailey has much to be proud ofDan Bailey has much to be proud ofDan Bailey has much to be proud of
Re: My countrywide story

Spiffytiffy,
Glad you found the forum and posted.

You may want to try NACA:https://www.naca.com/refinance/refinanceSubmission.jsp They are a non-profit homeowners advocacy group. If this is your only property they will work for you. It is a free service.
__________________
Loansafe saved my home!!



I may be alot of things, but I do know the difference between reply and forward.
Dan Bailey is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote Share with Facebook
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -7. The time now is 09:34 AM.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2009, Jelsoft Enterprises Ltd.
SEO by vBSEO 3.2.0
Copyright 2009 LoanSafe.org and MoeSeo Inc. All Rights Reserved. Home Loan, Loan Modification & Foreclosure Help Forum - LoanSafe.org

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100