Over 16 Weeks, Finally Countrywide SUCCESS!!!!

[syw28]

Hi everyone,

I am so excited to have found this website. I too have been fighting with Countrywide to get a loan modification approved. I currently have a 2/28 ARM at 5.6% which adjusted in February to 7.1%. My payment went from 1660 to 2105. After hearing about the HOPE organization in November, I decided to be proactive knowing that I would have a hard time making the new payment and refinancing with negative equity wasn't an option.

I called the Home Retention Team and was asked to submit the standard financial information. I gathered it all and submitted on the same day, November 21st. This is when the fun really began. After calling each week to get a status, I was finally told that Esperanza Buenstronstro had been assigned to my account on December 5th. I called two to three times a week trying to get updates. Most of the time, like many of you, I was disconnected, rerouted, harassed for calling too much, and just plain given the runaround. I left requests to have my loan negotiator call me and was told to give her 72 hours to respond. Of course, I never heard from anyone at Countrywide so I kept calling.

On February 21st, I was told that there was a glitch in the process and the updates to my account that were supposed to have been entered were not and thus the standard scripted response of "no knew information" was provided by customer service. Finally, a light at the end of the tunnel, my loan was being submitted for management review and I should have a response within 3 to 5 business days. I slept a little easier that night. Subsequent calls resulted in nothing more than wasted time, spent energy and a lot of frustration (I can't count how many times I have entered my loan number, last four digits of social, stated my name, etc.).

On March 3rd, I called Countrywide again, starting the week off right, and actually spoke with my loan negotiator. I think my head just rolled off, because I had finally spoken with the woman who was toying with my happiness. The bad news, my loan had not been submitted for management approval. It was still on her desk. She promised to submit it that day and stated that I should get a response back within 7 to 10 business days. After questioning why I should believe anything she had to say, since I had been deceived so many times before, I hung up feeling a little more victorious.

It is now March 26th and my loan is still awaiting management approval. I begin to wonder if they really do want me to default on my loan before they will offer to help, but the rational side of me knows that's probably not the case. Luckily, I found this website and took the advice of others and started sending out my QWR to anyone and everyone at Countrywide. I hope that someone calls or emails soon. This process has taken its toll on myself and my family, but I refuse to give up until I absolutely have to. I have already put in sixteen weeks, I can endure a few more. My pocketbook may tell a different story, but for now I am keeping my head a little above water.

Thanks to everyone who has posted their story and given me hope and great information.

[Moe Bedard]

HI Syw28,

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

You see you just found this site....and that is good news!!
All of the Countrywide Successes posses one thing you don't so far........

Raquel's phone number call her and tell her that you are getting the run around, leave a message with your call back number if you don't get her..

OFFICE OF THE PRESIDENT
RAQUEL ROBINSON
1-800-669-2443 x 4115

[Moe Bedard]

Also a Qualified Written Request (QWR) helps to get them to speed the process up.......especially when you are asking for loan documents and the life of the loan history..........

QWR - there are examples of the letter in the Tool Box. In that letter demand your Life of Loan History, copy of Note, Deed of Trust, Riders, all Assignments of the Deed of Trust, TIL, Right of Rescission (if refi), Lender Final HUD-1, copy of initial loan application and final lender loan application, all disclosures and all loan documents in your file, copy of appraisal. Send this three times certified return receipt required and also send it to the Broker, Title Company and all others in the Chain of the Transaction.

There is a blank copy of the request in the Homeowner's Tool Box to the left of the forum for you to click on and skew to your situation........



Make sure you send it certified mail to at least 3 people below.

[syw28]

***,

Thanks for the info. I completed my QWR and have faxed and emailed copies to a long list of countrywide people. I have three other copies addressed and ready to be sent via certified mail. I used the examples found in the toolbox and was able to complete mine without much trouble.

We will see what happens. My fingers are crossed! I will try direct calling Raquel Robinson as well.

Thanks!

[Moe Bedard]

That is great!!
Now Keep us Posted on your progress......k......

[syw28]

Tried calling my negotiator for the fourth time today and of course got the message that the extension wasn't asnwering. I decided to give Esperanza's supervisor, Yolanda Molina a call. She actually answered!!!! I stated that I was calling about my loan modification that was submitted in November. I gave her the brief history, but enough of an idea to get the point that I was frustrated. Of course, she started into the runaround about how they were so far behind that they were just getting to the November requests. Not a good enough explanation for me.

I let her know my dissatisfaction with the level of service provided had been sent to various people within countrywide as well as other organizations. She quickly changed her tune from trying to get me off the phone to almost helpful. She stated that while I had been told that my loan had been transferred for management review on March 3rd, my loan hadn't been sent for review until the 18th. Now that's funny, because when I called between the 3rd and the 18th the CSR's were quick to tell me it was in management review!

The bottom line is that she is going follow up with the QC department and find out why my documents haven't been sent out ( am I to assume this means I've been approved for something?) and have my loan agent call me tomorrow. I was polite and thanked her, but then gave the reminder that if I didn't hear back I would call her tomorrow.

Yes and call tomorrow and the next day and next day, it is vitally important that you call, call, call and fax, fax, fax....squeaky wheel gets the grease.

[syw28]

Update,

It works, it really really works! I received a call from Monica in the Office of the President at Countrywide. She had received my email from yesterday and wanted to apologized for the way my account had been handled and stated that there were tremendous delays. I thought I was going to get the usual spiel about the negotiators having numerous files they are working with and how they cannot keep up, but she admitted that the ball had been dropped.

My file has been escalated and I should hear back either today or tomorrow. While she stated someone from their office will call, I'm not going to wait for that to happen. I really do think they will miss me if I don't call everyday! Interesting fact is that she admitted that my file had been escalated back on January 29th, but not touched again until March 3rd. That's some escalation process. I think my file was escalated into someone's trash bin.

I feel better that for the first time someone from Countrywide called me and it wasn't me having to call them. Of course, I will continue to call and fax to anyone and everyone. Hopefully there will be more to report tomorrow.

Also, I am hoping to not have to go this route, but what happens to a co-signer on a second if I do a short sale. I have a second with Countrywide that my father is on. I don't want to do anything that will hurt his credit, but not sure whether they will go after him if I do a short sale. Any help is appreciated.

Thanks.

That second issue is state and type of loan driven, please on that one hire an attorney for 2 hours and get the skinny....there are real issues if it was a cash out second, not a purchase money second and so on...they are taking a real hard line these days due to the pool insurers and the losses they are experiencing on the Second Pools.

[syw28]

Update:

After being told that I should have a response on my loan modification by close of business on Thursday (3/27) or Friday (3/28) I was disappointed when I called on both days and found out that Monica and Zach, who was newly assigned were still trying to track down my original negotiator. Friday afternoon, I received calls from both Zach and Monica with updates. Zach asked if I had been contacted by my original negotiator, Esperanza. I laughed and explained that in all my attempts to have her call me, I had never received a return phone call from her.

Zach explained that there had been no progress in getting in contact with Esperanza or her manager. From the notes, he could see that my modification request had been submitted for management approval on the 26th. Yet another date provided. Now, I have been told that my file has been at least four times on four different dates. Interesting. Regardless, Zach promised to follow up on Monday with a status and I believed him.

Well, for once countrywide followed through. At 5:30 on Monday evening, Zach called to tell me that my modification had been approved. Apparently, it was in a stack of approvals that weren't moving. It was pulled and was scheduled to be sent out today (4/1 - see the irony?). I don't know the terms of this modification and when I asked if it could be faxed to me, Zach stated that he didn't have the paperwork, he just had the udpate.

Hopefully, come Wednesday there will be a packet waiting for me with good news. I have a bottle of champagne chilling as I type this. I'll let you know once the docs arrive.

Thank you for all of the wonderful advice. This site and the people behind it are amazing!

Fingers and toes crossed.....hoping and praying.....please let us know as soon as you get it.....we are all waiting along with you.

No joke we are all very concerned for everyone and want the best that you can get for yourself and your family. Please let us know as soon as you get it.

[syw28]

Thanks for the support Poppy.

Found out that the docs didn't go out on Tuesday or today. Most likely they will go out tomorrow. I asked for a faxed copy, again and was told that a message would be sent to the manager to fax them to me. I don't trust their method of communication, seeing as how so many messages seem to get lost in the shuffle!

In any event, if the news is true my original rate of 5.6% has been locked in and my payments will be 1670 ( ten dollars difference since they are rolling in April's payment). Zach stated that there was no mention of how long the rate was locked in for, so that will be interesting to find out. Have you heard of them locking in the introdutory rate for the life of the loan?

I will continue crossing my fingers and toes until I get the documents. I will keep you and everyone else posted on my progress. For now, it will be nice to go home and just be thankful that it is still mine!

Pretty much a lock/freeze for 5 years, some are modifying out over the remaining life of the loan, however more commonly 5 year freeze.

Please they are getting stingy on paper and your modification agreement may be missing some pages.....that is also getting common up here.....they have financial issues themselves and paper saving appears to be a way that they are reducing costs....

[syw28]

YIPPPPPEEEEEEEEEEEE!

My paperwork arrrived on Friday with all of the required pages. My loan has been locked at my original interest rate of 5.6% for five wonderful years.

I cannot thank you enough, Poppy, *** and Moe. Thank you for devoting your time and energy to helping all of us and doing it with great knowledge, sympathy, understanding and so promptly. If it were not for angels such as yourselves, I would still be fighting this battle and feeling helpless. You have helped me find a strength that I didn't know I had.

For anyone else still struggling with your lender, keep fighting, keep fighting, keep fighting! I was afraid to ruffle feathers, but sometimes that's what it takes to get things done. Thank you to everyone who has posted and been brave enough to share their experiences. I hope that my story inspires others they way their stories inspired me to take action and save my home, my hopes and my dreams.

Thank you!

[Moe Bedard]

Syw28,

I am sure you are going to sign those docs and send them back immediately.........So off to Success You Go!!!!


Congratulations!!!!
Way to Hang In There!!!!
I am really happy for You!!!!

[Andrew]

Congrats On The Mod, Woo Hoo

[Kimbly]

CONGRATULATIONS!!