Countrywide wont help me

[beccaL]

Hello, here is my story:

My husband and I purchased our home in Dec. 2006. We refied in dec. 2007 and our loan was promptly sold to countrywide. We have a 30 yr fixed at 7%, our principle is about 193,000. I'm not sure what the value of our home is now, we are in upstate NY and we were assesed last year at 152,000 (I'm not sure if that even means anything) My husband works for Chrysler (need I say more) and his income has dropped by about 50% in the last 6 months. Also 6 months ago the company I worked for was downsizing so I took a job with another company for the same pay but I now have to pay for my insurance which I never did before. We are 2 months behind (including this month) on our mortgage. I have called countrywide repeatedly and just get rude people who tell me that we need to look for better jobs or "find" the money. We have been told that we do not qualify for a modification. One person said because of the date of the loan, another said because of our income, another said because our loan is "actually held by Ginniemae and they are not participating in modifications" (I have never even heard of ginniemae). I have contacted "loan modification people" and they are all attorneys who want $2000 to negotiate with countrywide with no guarantee of anything. Since countrywide has already said they will NOT do a mod. and the FHA website does not recommend paying someone unless your lender is participating, I don't know what else to do. We have a lot of other debt (15,000 in personal loans and 55,000 in student loans and I wont even get started on my experiences with SallieMae). We are looking at bankruptcy. I will sacrifice my credit, even eating to keep my home. Is ther anything I can do or should we just prepare for the worst?

[kateistired]

becca,

hang in there, someone with more knowledge than me will be around to answer your questions I would say that 1.) Keep calling CW until you get a rep who will take a look at your loan again and put you into workout...you don't have to mention that you have asked for this before. Many people have had to call multiple times before being considered for a modification. Many of the reps are understaffed and uninformed. 2.) A lot of members have signed on with NACA, which I am sure they will be able to give you information on this.

Also, they are doing things with the new Obama plan coming up soon here. I know there is a link in these forums somewhere so you can see if you will qualify for that program. Sounds like from the info you provided that you have a good shot at at least one of them!

Kate

[Dan Bailey]

beccaL,
Glad you found the forum and posted.
As kate stated above, the folks you were calling were probably "customer service" a.k.a. collections.

The first thing you need to do to start the process is to draft a hardship letter, example here:http://www.loansafe.org/forum/loan-....r.html#post407 to send in. Once this is done, you can fax it and send it certified mail to the CW contacts listed in the CW section.

This will not be an "overnight process". Start with the letter and respond to the instructions they give you afterwards.
Hang in there!

[beccaL]

I have faxed my info to NACA this morning. I read a lot of the posts on here and it seems like they may be able to help. I'm also seeing an attorney on friday. Thanks for the letter, I'll send those out also.

[beccaL]

Update:
I had my first phone call with NACA. They requested additional info so I sent that over toady. Also I saw an attorney and we have started the process for chapter 13. He said hopefully countrywide will give us a mod through NACA but if not he will negotiate it in the chapter 13 (if the "cram-down" bill passes). I feel a little better, at least he got the bill collectors to stop calling me so at least I'm not crying at work all the time anymore. He said if all works out with this new bill, I could even use the new appraisal to greive my taxes (they are very high).

[beccaL]

Update: We have spoken with NACA several times and honestly I'm a little annoyed. They keep asking me for additional info that they could have asked for previously and I feel like it's wasting precious time. They are also supposedly out of the office till next week so I can't do anything. I have yet another phone appointment with them on the 17th and I'm meeting with my lawyer on the 18th so I guess its down to whoever can get the job done. I'm begining to feel like we should start packing and plan for the worst. I'm quickly loosing faith in all these "programs" and most of all I have lost faith in this pathetic country and it's politicians.

[Moe Bedard]

NACA is at a Save the Dream event in South Carolina this weekend, 13th-16th.........there isn't much they can do with servicers on the weekend because the only dept. that is ever open on Saturday is the collections dept.

You faxed your info to NACA just two weeks ago............the process can take up to 90 days....





Keep us posted on how it goes with your appts.

[beccaL]

Update:
Finished up with NACA on the 18th. They told me that they would call me back on friday the 20th to confirm that they had submitted to countrywide. They never called. I have e-mailed them asking for someone to contact me but no one has. What should I do? They told me to hold off my banckruptcy because countrywide would probably not cooperate if we filed. I'm supposed to give my attorney an update but I have had no contact from NACA. When I check my status on their website it still says I'm in the "documents" phase but I was told I was being submitted.

[mshanie]

beccaL,
I am in the same boat, as far as the automotive thing, I was with (GM), I was out in March of 2007 and in a chapter 13 at the same time, we dug ourselves a pretty deep hole. However, I started to investigate different mod options, obviously we went with our servicer CW 1st. We got the major jerk -off for months and months, then I found this site. Submitted with our current financials to NACA at the end of jan09, based on our current income(which is about half of what it used to be). I tried to continue to also work with CW ON ALL OF THESE NEW PROGRAMS, DID AND SENT EVERYTHING BESIDES THE KITCHEN SINK TO THEM, AND GUESS WHAT? NOTHING FROM CW, but the same old crap. So, I checked my e-mail on the morning of 3/19/2009..............NACA came through, we still are in disbelief!! Waiting on doc's, my advice work with NACA. You can read about our story and the hell that we have been through (hopefully over soon) on the thread "Everybody chill out , we are 18 months behind...." I think that coming from the automotive background, you may or may not find this an interesting read, everybody's situation is a little different. good luck, go with and rely on NACA.

[oldguyhd]

beccaL, they're right. If you are in a ch13 CW won't do anything for you. You will get to talk to the BRuptcy dept but no help there. I just finished my ch13 on 06 Jan. They still won't talk to me until they get the final discharge papers and the mortgage goes from the BR department of CW to regular status. During my CH13, I lost 1/3 of my income. We have sold what we can and will wait to get the papres to fax CW. MAYBE? They'll talk then. I don't have much hope though. My principal is about 135,000 and value at about 210,000. We'll see.

[debdog]

Countrywide told me to go to a church and ask for $$$$$ Are they kidding?

[dthom]

Actually, sad as it is I think they are! Told us to rent out a room! LOL! They will say anything just get their money. Don't care where it comes from.

[beccaL]

Update:

I sat on hold for an hour this morning waiting for NACA. They said they don't know why it is taking so long to submitt my file (it was supposed to be submitted on the 20th) and they can't follow up with me and to just call back in a few days. I have someone else who wants to do my modification but of course they want $3000 to do it. So I guess I give NACA till the end of the week and make a decision. My Attorney and my creditors are getting impatient and I'm to the point where it is affecting my job and my family. I don't think I've made the best decisions and maybe I should just walk away. My family might be better off starting over.

[oldguyhd]

Hang in there beccaL! I'm the only one here on the mortgage. As to making some bad decisions, consider this. I paid cash for my house (189,500) then borrowed against it 4 years later. Two, three, four and more times. They just kept making it easier each time. I've been knocked down so many times over the last 30 years I refuse to let it beat me. It gets harder to keep getting up, but you just have to. I may not always win, but I will never give up. I'm way behind you. I just heard about NACA when I found this site. I'm still getting all the papers together.
I know it has all fallen to me, I could have told everyone (me included) no more money. But like I said, it was made too easy. Hang tough, make up your mind to give it your best fight. You already got the papers in, it's a great start. See it through.

[beccaL]

Update:

NACA finally submitted my case to countrywide on April 9. They said to call them back after 30 days. Our attorney is holding our ch 13 until either our mod is done or the "cram-down" passes and he can force a mod through that. I no longer answer my phone and my secratary screens my calls here so I can avoid the daily harrassment. At this point there are other factors thrown in the mix that may make or break us.. I have a sick child who will need surgery this summer and that means someone will have to take time off to take care of her, I just pray we still have a house. Also, my husband works for Chysler, so as of the 30th, we will know if he is even going to have a job or if the company is going bust. They say when it rains it pours....

[beccaL]

Update:

Well now my husbands company is in bankrupcy so I don't expect things to get any better any time soon. Countrywide has called me and claim they have not received ANY info from NACA and that my mod was denied back in Feb. Which I know is not true since I didn't start working with NACA till March. NACA says that CW is just trying to confuse and scare me. We've started looking at moving and are trying to button up some projects around the house in case we have to sell. I just can't believe that they are trying to tell me that I am not working with NACA when I know that I am!

[oldguyhd]

Which they (CW) probably is. They told me today that my Bankruptcy Discharge is not enough to get my loan off the BR classification. They need a release from the court to make it to where I can start working on a mod! Funny thing was it was enough for my 2nd mortgage company to have my mod done in 6 days. Dropped that payment by 50%.
I was wondering how it would affect your husbands work. I know they are closing down a couple transmission plants here in Indiana, but no dealership closings yet. Keep the faith as best you can. I keep getting told to keep waiting, it takes time.

[beccaL]

Originally Posted by oldguyhd

I was wondering how it would affect your husbands work. I know they are closing down a couple transmission plants here in Indiana, but no dealership closings yet. Keep the faith as best you can. I keep getting told to keep waiting, it takes time.

Chrysler stopped shipping cars to the dealership about 9 months ago. There are only a handful of cars on the lot. People dont trust a company thats failing so no one is coming in and it looks even worse that the lot is empty. Some days they call him and tell him not to bother come in.

[oldguyhd]

Well, to ease your husbands mind; I'm a life long Chrysler fan and customer. He will get a kick out of that fact that my primary driver is a 1972 Plymouth 'Cuda. I tell people that I can't afford a new one so I just keep driving my old one!
CW is still giving me the run around every other day. Different person every time I call gives a different story. Now it's all blamed on the poor overworked technician who (by their self apparently) has to do the same work for the thousands of people out here. I shall continue to be the "squeaky wheel" every other day or so. When I get bored with that, I'll move on to my congressman's office where I already have a contact. NACA says to keep hanging in there and waiting. I can do that while being a thorn in somebodies side. I think all we can do is keep hanging on until they see that we are not going away. If we all do go away, what would happen to their business I wonder?

[beccaL]

Just spoke to NACA agin, they are now telling me this could take 4 months. Our ch. 13 is being filed today (we simply can't let the other stuff go any longer) so I'm sure that will delay things even further. We should know by the end of the week if my husbands dealership is on the Chrysler chopping block. At least once we know we can make some real decisions, even if they aren't the ones we wanted. I guess I rather be sure of something bad than not sure of anything at all.
As I'm reading other threads I'm certain that the BOA calls I'm getting are a scam. They ask a lot of questions and don't seem to know many details about the process.

[beccaL]

Another month has gone by and nothing. NACA sent and e-mail (auto generated I'm guessing) that BofA was working through the backlog, blah, blah. I'm on hold with NACA right now. We ended up doing a ch 7, since the cram-down bill didn't pass. We have court tommorrow. I have already sent a release from my attorney to NACA. I don't sleep anymore, I've lost weight, and my husband is packing up the kids to go live with his parents. I'm the only person left fighting, and I don't think I can do this alone. This house just means a lot to me and I can't let it go. I'm afraid that I'm fighting a loosing battle and I'll be the one left out in the cold. What do I do? No one can tell me anything!

[Rumor]

Becca, I'll be praying for you. We've had many moments where I was ready to pack and my husband wouldn't let me. He said that he had enough faith that everything will come thru for us. I hope it ends soon because it's gone on long enough. Have you tried contacting anyone at BofA directly??? Like Office of the President, anyone else???

[beccaL]

I just spoke to NACA, they said they have no news yet. I'm going to make a payment to BofA this week to cover one month. This will put my bank account at 0! I haver no phone, no tv, no internet at home. I'm just keeping the lights on and trying to buy food. My parents have told me that I'm stupid and I should go with my husband and stop being unrealistic and accept "the reality that we don't always have what we want".

[morainac]

Its time to email the office of the president with boa. A lot of people have been getting results.

[morainac]

Send a email to Barbara asap. You should get a response today. If you need to put food on the table and take care of your family, do not send a payment.