The nightmare with CW never ends!

[gray517]

Someone wake me up, please! I want to get off this countrywide merry-go-round! We got a successful modification using Naca, got mod docs 1/9/09, quickly signed them and got them right back to CW, it took them till 2/6 to post and make the changes to our account, which now ways modificcation is complete and closed. Well now comes the misc bs fees, they are charging us $140 in fees for inspections, the loan mod had $45 was being rolled into loan an applied to inspection fees. I got them to finally give me a breakdown of these so called fees, they are charging me $95 for a BPO done in 6/08 (my account was current at this time) and $15 for every month behind and then 3 $15 for inspections done on the same day 2/6 and according to their messages the account was current at that time with no fees due. NOW the escrow, they put the required escrow shortage (this was also rolled into the loan) in to the escrow account our insurance was not due till 5/09 but with state farm pulling out of florida, we decided to be proactive and get new nsurance now, well CW paid this new premium and the new premium is acutally cheaper by $140 a year, guess what now they raised my monthly escrow payment by $42 a month, when I asked for an explanation the rep said it is the way the system does it, give me break, I told her the system only works if you put right figures in the right place ( I have worked with loan processing software) and tried to get the rep to explain how they did, her response, she did not know. This is ridiculous, we get a lower payment only to have it go up $42 a month, that is gas for 2 weeks for us. I am so frustrated I feel like I about to turn into linda blair, my head is about to start spinning! Sorry so long, but I knew my loansafe friends would understand this constant CW nighmare. Any advice, don't want them to recind the mod, can they do that? should I try to esculate to a higher up, with our monthly budget (nothing left to cut out) being as tight as it is, we can't afford the extra $42 a month nor the $140 so called fees they are now asking for?

[Dan Bailey]

gray, since you used NACA, have you contacted your counselor there to go over this with them?

[gray517]

yes, I emailed my counslor directly twice but have not gotten any response from her, I assume it is because they are sooo busy and this is really not a modification issue, this all has happened after my modification has been processed and is closed now. I hope I am right in assuming since the modification is completed and it says closed on my account, that they can't try and rescind it since i am raising a ruckus over these stupid fees and payment increase. It's just so frustrating, i got a whole month of be happy with a new payment, then whammo back on the cw treadmill. I will esculate this to a higher department, I know it's not as important as being behind on an unaffordable payment or rate resets, but if they are allowed to do this to my account they will surely do this to others as well and the misc bs fees add up if done on several thousand loans. I tried the nice approach, didn't work will now have to try the b**ch approach.

[mgallant]

Originally Posted by gray517

yes, I emailed my counslor directly twice but have not gotten any response from her, I assume it is because they are sooo busy and this is really not a modification issue, this all has happened after my modification has been processed and is closed now. I hope I am right in assuming since the modification is completed and it says closed on my account, that they can't try and rescind it since i am raising a ruckus over these stupid fees and payment increase. It's just so frustrating, i got a whole month of be happy with a new payment, then whammo back on the cw treadmill. I will esculate this to a higher department, I know it's not as important as being behind on an unaffordable payment or rate resets, but if they are allowed to do this to my account they will surely do this to others as well and the misc bs fees add up if done on several thousand loans. I tried the nice approach, didn't work will now have to try the b**ch approach.

I agree with you, it is unbelievable what they put people through!

They must figure if they nickel and dime everyone to death they could potentially make back a huge amount of money on these bad loans! Just do the math, if they get at minimum $140 extra in fee's from every modification, multiply that by at least a million Mods and that adds up to some nice change for bonus time or party time for the execs. Add on to that the $42 extra escrow per month and you start to see that they won't be that bad off...the poor souls! Granted the escrow should be yours and overages will go to legit expenses or back to you.

I would guess that within your new agreement with them for the Mod that there is some wording or clauses that allow them to legally do what they are doing. They are not going to leave any loopholes or backdoors open moving forward. One thing I am sure all lenders learned from this mess they caused was how to create a iron clad contract that serves there interests!

[heehoo22]

Originally Posted by mgallant

I agree with you, it is unbelievable what they put people through!

They must figure if they nickel and dime everyone to death they could potentially make back a huge amount of money on these bad loans! Just do the math, if they get at minimum $140 extra in fee's from every modification, multiply that by at least a million Mods and that adds up to some nice change for bonus time or party time for the execs. Add on to that the $42 extra escrow per month and you start to see that they won't be that bad off...the poor souls! Granted the escrow should be yours and overages will go to legit expenses or back to you.

I would guess that within your new agreement with them for the Mod that there is some wording or clauses that allow them to legally do what they are doing. They are not going to leave any loopholes or backdoors open moving forward. One thing I am sure all lenders learned from this mess they caused was how to create a iron clad contract that serves there interests!

Countrywide doesn't actually make any money off of the inspection fees or the escrow.. so let's not add fuel to a fire..

Gray.. remind me again who your investor was? Inspection fees happen if you are behind but some investors do not allow the lender to capitalize these fees or only part of these fees in the modification (this is a way of protecting the bwr from being charged interest on those fees) so the fees you have out there may be legit. The lender would perform a property inspection in order to secure the investment. They can do it at any time.

As far as the escrow, I want to make sure I am completely understanding what you are saying... your insurance was previously impounded or no? If it wasn't, then the increase in your escrow would make sense.. if it was, then you may request the escrow to be reanalyzed.

[gray517]

Originally Posted by heehoo22

Countrywide doesn't actually make any money off of the inspection fees or the escrow.. so let's not add fuel to a fire..

Gray.. remind me again who your investor was? Inspection fees happen if you are behind but some investors do not allow the lender to capitalize these fees or only part of these fees in the modification (this is a way of protecting the bwr from being charged interest on those fees) so the fees you have out there may be legit. The lender would perform a property inspection in order to secure the investment. They can do it at any time.

As far as the escrow, I want to make sure I am completely understanding what you are saying... your insurance was previously impounded or no? If it wasn't, then the increase in your escrow would make sense.. if it was, then you may request the escrow to be reanalyzed.

Thank you for replying so quickly heehoo22, I am at my wits end with this bank! My investor is Bank of America fka Countrywide, the original inspection fees of $45 charged were included in the loan mod in the amount of fees that were put in the back of the loan, some of these so called other inspection fees are showing as posted as being done prior to me even applying for a mod or being delinquent for that matter. the loan mod docs I got were actually dated november 26, 2009 but i didn't get them from CW until 1/9/09. If these fees are legit, why was I never told about them at any time in the last 8 months? they were never shown on my account or disclosed to me by any of the reps? Yes my account has always had an escrow for insurance and taxes it was just analyzed 2/09 after the mod was finalized and the required funds for escrow shortage were applied from the modification (all was good at this time), I requested an escrow re-analysis after the insurance premium was paid since the insurance was actually cheaper than the existing policy thinking this would lower the payment a few dollars, the acutal escrow portion went down by $12 a month to $262 a month, but they are charging me $42 a month as a reserve which they will not need and shouldn'tbe necessary since the premium actually went down not up.

[kateistired]

Great, I am sure that is what will happen to me, too. I have had someone out here every month taking photos of our house since last year.............

Gray, I am so sorry this is happening to you! It seems like they figure we are lucky to get what we get, so they can tack on any fee they want!

[heehoo22]

Originally Posted by kateistired

Great, I am sure that is what will happen to me, too. I have had someone out here every month taking photos of our house since last year.............

Gray, I am so sorry this is happening to you! It seems like they figure we are lucky to get what we get, so they can tack on any fee they want!

Did you read my response to Grey... they are protecting their investment. Let's put it this way... if you owned a rental property and your tenant wasn't paying their mortgage, would you drive by the house? Would you want to make sure they will still living there and not destroying the property? YES so obviously, so would the investor. It's not the lender trying to screw you. It's pure and simple business.

[kateistired]

Heehoo,

I understand what you are saying. I do know that they are trying to protect their investment. I call them twice a week, though, and each time they ask me if I am occupying the home, and twice a week I tell them yes. It makes sense to me that if someone defaults on a mortgage, they should do these inspections. But I would think a homeowner who is working as hard as they possibly can to get a modification and is keeping in constant contact with them (making it CLEAR that they want to keep the house) should not be charged fees every single month for these drive-by's. I do know that is in my loan documents for them to do so, it is just frustrating.

[heehoo22]

Originally Posted by gray517

Thank you for replying so quickly heehoo22, I am at my wits end with this bank! My investor is Bank of America fka Countrywide, the original inspection fees of $45 charged were included in the loan mod in the amount of fees that were put in the back of the loan, some of these so called other inspection fees are showing as posted as being done prior to me even applying for a mod or being delinquent for that matter. the loan mod docs I got were actually dated november 26, 2009 but i didn't get them from CW until 1/9/09. If these fees are legit, why was I never told about them at any time in the last 8 months? they were never shown on my account or disclosed to me by any of the reps? Yes my account has always had an escrow for insurance and taxes it was just analyzed 2/09 after the mod was finalized and the required funds for escrow shortage were applied from the modification (all was good at this time), I requested an escrow re-analysis after the insurance premium was paid since the insurance was actually cheaper than the existing policy thinking this would lower the payment a few dollars, the acutal escrow portion went down by $12 a month to $262 a month, but they are charging me $42 a month as a reserve which they will not need and shouldn'tbe necessary since the premium actually went down not up.

*** should be contacting you soon. Maybe we can get this looked into.

[FLgata]

I'm sorry to hear you are going through this Gray. I can feel your frustration as I read your post. I will be following this thread carefully because more than likely, I will experience the same thing. I do appreciate the "heads up" about the additional fees.

This is kind of off topic, but when you signed on for your new insurance policy did they request a "Wind Mitigation Inspection"? Unfortunately, the homeowner is responsible for the inspection fee (usually runs about $100.00) but depending on the home, it could save you HUNDREDS of dollars each year on your homeowner's insurance.

[gray517]

Originally Posted by FLgata

This is kind of off topic, but when you signed on for your new insurance policy did they request a "Wind Mitigation Inspection"? Unfortunately, the homeowner is responsible for the inspection fee (usually runs about $100.00) but depending on the home, it could save you HUNDREDS of dollars each year on your homeowner's insurance.

I got the free wind mitigation inspection done last year thru the state of florida it did save us our insurance dropped by $400 a year, but when I got the new renewal from state farm for this year they raised the premium by $350, that and the fact state farm is pulling out of fla. prompted me to change carriers, my insurance went down $140 from last years premium to $1343.

heehoo22, I got ***'s message will take care of it monday and thank you!

[FLgata]

Originally Posted by gray517

I got the free wind mitigation inspection done last year thru the state of florida

Very Good! The MySafeFloridaHome program ended last June, so I'm glad to hear you got the freebie before that. The forms are good for five years. Did you submit that to your new carrier when asking for your quote? I'm sure you did because you seem to be on top of things, but just thought I would ask anyway.

[gray517]

FLgata
I did give it to them I think the savings was around $500, could have been more but the wind inspector said since my house was built in 1998 it was not up to the 2001 new building code, the insurance co offered to have thier inspector come out again for $50 and if he isn't able to give us a better rating we won't have to pay the $50, but I don't even have the extra $50 to pay him if we are able to get a discount, gotta save for that now, lol! I just want a decent job, I know i will never get back to the $50k I was making just want a reasonable wage (one that pays more than the meager $275 I get in unemployment) oh yeah fla just increased that amount by $25 a week, but we won't see any of it till March 31 and even then it will be coming in a seperate unemployment check, the government sure knows how to waste the money don't they, think of what they would save if they just processed the extra $25 a week into our existing checks. praying for less stress in my life for awhile, so tired of fighting for everything, just need a break you know! the pressure gets to you sometimes, I am a fighter, a survivor, but sometimes you need a break!

[olander47]

Grey, I too have fees added for "inspections". Even being current with my loan. I would like to know who is doing this? We work 10 hour days (gone for 11-12 each day) so there are many hours when there is no car or activity seen. Is this person sitting outside my home waiting for me? Very unnerving!!

[gray517]

I know I live in a gated subdivision, how did they gain access? they didn't make contact with me at all, so I would like to see those inspection reports and the bpo that was supposedly done last june 08 for a fee of $95, especially if I have to pay for them. funny how those fees were never mentioned at any point during any of my conversations with CW prior to getting a naca modification nor did they show up on my account online, they are still not showing up online as fees in the transaction history or anywhere else when I look online I only found out about them after I questioned why they were showing $45 in fees on my statement, yet they were holding $45 in suspense from my modiification, that's when I got the message about the other "so called fees" totaling $185, to which the $45 was applied. The only inspection fees shown as being owed in my modificaton was the $45. maybe with so many of these mods being done it is an oversight or error on thier part, I just wish the reps would explain things or at least try to be helpful instead of being rude! they should hire me, I have loads of customer service skills and know phone etiquette as well and I even know enough about mods including cw's programs to actually help someone, with modern technology i can work from home, lol!

[jmo1976]

It seems you have a lot of experience with CW and NACA. If you don't mind, I have some questions I'd like you to answer if possible?
My kids saw someone taking pictures outside my house last week Thursday 3-12-09. Naca submitted my file to CW Friday 2-27-09; do they (CW) come out that quickly? Also, you mentioned that CW stopped letting you make payments? When does that usually take place? Would my online account with CW show something if they have recvd something from NACA on the "workout information" link? Should I tallk with NACA for an update on my file, or wait the 40 days? Thanks so much!>>

[gray517]

Originally Posted by jmo1976

It seems you have a lot of experience with CW and NACA. If you don't mind, I have some questions I'd like you to answer if possible?
My kids saw someone taking pictures outside my house last week Thursday 3-12-09. Naca submitted my file to CW Friday 2-27-09; do they (CW) come out that quickly? Also, you mentioned that CW stopped letting you make payments? When does that usually take place? Would my online account with CW show something if they have recvd something from NACA on the "workout information" link? Should I tallk with NACA for an update on my file, or wait the 40 days? Thanks so much!>>

If someone was taking pictures it could have been for a whole host of reasons, I think lenders some time do a BPO (not sure what it stands for) but it's kinda like a fair market value report of what the house and the surrounding comps have for value, ususally done by a realtor not an official appraiser, or it could have been one of those inspections where they just want to make sure you are living in the property. CW didn't stop me from making payments, they would not take a partial while we were behind, once the modification stuff was sent in from Naca, while I could look at my account online, I didn't not have online access to make a payment or send messages thru the message center. the only thing that showed up from the Naca submission was that we were in active processing for a mod, I called Naca weekly for updates, when I was told that they had not heard anything back from CW I called Countrywide myself raising cain. They gave me the you are qualified for the 12/1 - AG settlement, fax us your paystubs (which we did as a backup plan) my online account then showed 2 mods in active processing. when I would call CW for updates on the 12/1-AG thing was told would get a package , when I asked about Naca submission was ususally told to call Naca. I still continued to call Naca weekly for updates, until 12/12 when I called and was told that CW approved the thier proposal. Mod is now done and complete and all changes made to account. the only "docs" that showed up were the ones I faxed directly to CW and then the mod docs that I returned are showing. You may see a change in your modification workout status if you click on financial hardship and then click on workout information. I would call Naca for an update, ask them to verify your proposal was sent to CW and that CW received (I think CW may upload them) if there is no news ask them to please contact CW for an update. good luck my friend!

[denised]

Originally Posted by gray517

Someone wake me up, please! I want to get off this countrywide merry-go-round! We got a successful modification using Naca, got mod docs 1/9/09, quickly signed them and got them right back to CW, it took them till 2/6 to post and make the changes to our account, which now ways modificcation is complete and closed. Well now comes the misc bs fees, they are charging us $140 in fees for inspections, the loan mod had $45 was being rolled into loan an applied to inspection fees. I got them to finally give me a breakdown of these so called fees, they are charging me $95 for a BPO done in 6/08 (my account was current at this time) and $15 for every month behind and then 3 $15 for inspections done on the same day 2/6 and according to their messages the account was current at that time with no fees due. NOW the escrow, they put the required escrow shortage (this was also rolled into the loan) in to the escrow account our insurance was not due till 5/09 but with state farm pulling out of florida, we decided to be proactive and get new nsurance now, well CW paid this new premium and the new premium is acutally cheaper by $140 a year, guess what now they raised my monthly escrow payment by $42 a month, when I asked for an explanation the rep said it is the way the system does it, give me break, I told her the system only works if you put right figures in the right place ( I have worked with loan processing software) and tried to get the rep to explain how they did, her response, she did not know. This is ridiculous, we get a lower payment only to have it go up $42 a month, that is gas for 2 weeks for us. I am so frustrated I feel like I about to turn into linda blair, my head is about to start spinning! Sorry so long, but I knew my loansafe friends would understand this constant CW nighmare. Any advice, don't want them to recind the mod, can they do that? should I try to esculate to a higher up, with our monthly budget (nothing left to cut out) being as tight as it is, we can't afford the extra $42 a month nor the $140 so called fees they are now asking for?

Oh no I hate to hear this you poor thing! You were one of the success stories that has given me hope. I wish you much luck!

[gray517]

yeah, bout to go off the deep end, lol! When you have so much stress in your life, you end up getting upset over the little things way to often. I figured out the escrow problem, since I renewed my insurance before it was acutally due in May, the escrow account didn't have enough funds to cover the premium, so it went short, they recalculated adding in the shortage, after May's payment posts to the account, I can ask for them to re-analyze the escrow account and the payment should go down to reflect the lower insurance costs, just wasn't thinking clearly as I read that my payment was increasing even though insurance decreasing all I could do was see red. As for the so called inspection fees I am working on that one. We originally got a mod that was a forebearance where they take the past due and roll into the loan increasing your payement last year in April/May after hubby got his first 2 paycuts. they charged me $30 for inspection fees but never posted them so not sure where the money went I upfront funds for this modification which ended up having an overage of $52 that they posted to principal, not sure why, but don't see anything about the $30 they collected going to fees, nor were there any fees showing as due on the account or n the transaction history. According to the new message I got they did a BPO on 6/2 for $95 and inspection on 6/4 for $15, my modifcation was processed and done at that time and the account was current, so not sure why this was done, but the fees were never disclosed to me at any point as being done, then there were 4 more inspections done while I was delinquent and going thru the mod process, 2 in Dec 08 2 weeks apart, my mod was sent back to cw and posted as recieved on 1/16/09 but they did another inspection supposedly on 2/2, again not sure why, account showed all changes done on 2/6, communicting thru the message center on 2/9 I was told my account was current. when I inquired further about the $45 that was currently shown in the suspense account and that it should have been applied to inspection fees per the mod but was showing as fees due on my statement, that's when I was told of the total of $185 in fees charged to my account $45 applied with balance of $140, when I asked about the original $30 paid last year or why a BPO and inspection was done on 6/08 when I just finished a mod on the account and it was current or the inspection from 2/2/09 (account was current at this time to) could not get any answers, I am still working on it though, I don't mind paying some of the inspection fees, I understand the reason it is done, but I don't think I should have to pay for them when the account is current as there no reason for them. I did pay all the fees that were asked of me last year for the mod and i agreed to the fees that were being rolled into the loan this year. I just kinda find it strange I have fees from 6/08 suddenly on my account that I was never told about nor are they posted anywhere online on my account. very small problem compared to what others are dealing with, just needed to vent a little get it out of my system, now its ho hum ho hum, off to work i go again to get this latest problem fixed. Countrywide should Hire me, I need a job, and I think I got this mod thing down pretty good now, lol!

[jmo1976]

Thanks so much for all the info! I'll set up an appointment with NACA.

[gray517]

Originally Posted by jmo1976

Thanks so much for all the info! I'll set up an appointment with NACA.

Have you gone thru the all the steps and had a phone counseling session with Naca? if so you don't need an appointment to call for updates, just call their main number and be prepared to hold for a while, (I usually did household chores while on hold) 1-888-302-6222

[jmo1976]

My status with NACA is "Submit to Servicer - Restructure". I have an appointment wed. morning. Thanks for the info, next time I'll call the hotline and do chores too, LOL!

[gray517]

Originally Posted by jmo1976

My status with NACA is "Submit to Servicer - Restructure". I have an appointment wed. morning. Thanks for the info, next time I'll call the hotline and do chores too, LOL!

if you have gotten to this point and everything is done having an appoinment is not necessary for updates, phone appointments are for counseling, budgeting etc unless you have unfinished stuff with Naca, it might be easier if you just call, stay on hold and ask for an update on your status. good luck

[MP927]

gray---I was never told anything from NACA about when to check back, etc. The rep just said it could be 30 days before they hear anything...do you think it's best to wait to hear from NACA or use the chat line to check in bi-weekly or monthly? I don't want to take time away from all the new applicants they are probably getting in, but at the same time I want to have status updates for peace of mind. Suggestions? TIA :-)