Countrywide LoanSafe Help SUCCESS!!

[JORDAN63033]

In July of 2006 we sold our old home, to make this short, the sale did not go as intended but it sold. We were approved for a loan on the home in disscusion for 3 wks with a 7.9 interest rate. ! week before closing the loan fell through.

We spoke with a broker that assured us he could finish the deal in a week. We had not heard from the broker in the 4 days to follow. One day before closing he called and told us how much to bring for clsoing. (A LOT OF MOONEY) When we got to the closing we found out our rate was 11.65 adjustable. We closed without a choice.

We immediately was behind on the note. We entered into three repayment plans that we could not keep for long. In June of 07 I was in and out of the hospital for 4 months off of work with 70 % pay. We feel behind so more. We received foreclosure notice so I called for a modifictation. They told me to send in all this paper work which I did. After getting the run around I finally talk to the Nasty negoitator. She said the modification was denied by the investor, but they could offer a repayment plan of 2800.00 amonth.

I found out about a advocy group that was workig with Countrywide so I contacted them , I took everything thet requested and they said they would try and stop the sale. I still hadn't heard anything from them (Advocy group( withing 2 days of the sale, so I filed Chapter 13. (My husband did not file)

With my 13 being 995 a month and our morg. 1570 we were tight. I was still working with the advocacy group that we started working with in Sept. of 07. They finelly approved our loan for submittion to CW from the Adocacy group in Jan of 08 and we were told we would hear something within 30 dys. As we waited we received our monthy statement and it was for over 21k. We called the atty to fix this problem. He couldn't get through to countrywicd but we finally did. They added escrow and it wernt up to $1800.00. When I called to make the correct payment I was told that our file had been transferred to negiotor and they would contact us about how much to send. (Still working with the advocy group 60 days later) no response. So I contacted the negatior Eric Page (?) in early March. (cant find the # any more) Eric said he had our file but that it couldn't be worked on because of the bk code on the file. I did not understand this bcause the advocacy group had to have a letter from my atty to speak with them on our behalf. After more cals Eric assured me that they would have an mod offer ready in two days. I never heard back from him. I called to make my April payment an d I was told they could not take my payment bc they filed for an relief from the bk on 4-17-08 . I did not understand because they told me not to send a payment and they would contact me.

When I called back they told me there was never a mod in effect for us. I later emailed them emails from the advocacy group proving that they were suppose to be working with us and we have been waiting over 3 months. Still no response, I'm being told that one hand doesnt know what the other is doing at CW, but they filed a motion of relief.

I don't know what to do, (we did file an objection) I contacted CW but they send my calls to different departments, lately they have been putting me straight to BK departmet, that will not help at all.

I'm not sure what is going on what the advocacy commication anymore after almost 6 months of working and waiting.

HELP
They are suppouse to be offering our atty a workout for the current behind for the regular payment of 1800 plus a 1000 and the 995 trustteee payment to keep the house.
The purchase price was 165 we put 5% down and we owe 156701.

[Moe Bedard]

Hi Jordon,

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

The problem that you are having currently is that they will not move to modify you while you are in a Chapter 13 Bankruptcy..........they will not touch it until the BK is discharged or you lift it..........it just isn't going to happen there....
I just am not sure what the investor would be willing to work out for you at this point........since you were previously offered three repayment plans that were not completed........and I do know the payments were most likely too high.....sometimes they offer a repayment plan to see that you will make timely payments going forward and then will roll to a modification agreement...
Were you in the BK when you found out the modification was denied?
When you are out of the BK you can try for a modification again.........
You need to email your hardship letter and an explanation of what you have been going through to each one of the emails below......
For a modification when you do your household income verses household expense sheet you should have a surplus of around $100-$250 left.
I hope this helps get you on the road to trying for the modification again, but keep in mind that you have to be out of the BK first........
Please keep us posted on how it is going for you.......

[JORDAN63033]

I did start the modification myslef before I filed and it was denied, but the advoccy group and CW knew I was in BK when they started working with us. See some of the notes below from the advocacy and CW
Jan 30, 2008
Carla,

Your loan has been submitted for review and is on Countrywide's desk.
We
should hear something w/in 30 days

March 2008
We have told

everyone over and over to NOT contact the lender as it jeopardizes all that we do here in Homesave….We

have been getting very good offers back from this lender…..Patience, patience, patience…..These modification

offers take time….I don’t know how else I can say it….
April 2008
I sent this to the advocacy group regarding the relief of stay
Have you heard anything yet as to if you can help us postpone the
hearing next week?

I spoke with Countrywide this morning, they advise me that they
cancelled the restructure on Feb. 19, 2008.

I know you have nothing to do with my legal issues.
Countrywide is just sad. As I understand nothing was a guarantee, but
Countrywide is claiming not have any information on a file and that we
were unable to be in a restructure due to the bankruptcy in Sept.

I just need what ever help we can get to save our home.
thank you
Carla Jordan

Last response from advocy group
I have forwarded this on to my National Underwriting team to confront
CW
about this.

So there nothing we can do since we are in Bk?

thank you

[Moe Bedard]

As I said you can try emailing your hardship letter and explanation of what you have been through to the email addresses that I gave to you.........
and see what happens from there.

And also try either HOPE at 1-888-995-HOPE or NACA
for help.......if you think that the counselor you are working with is not giving you the attention that you deserve......

[JORDAN63033]

thank you, but one of the groups is who I've been working with since Sept.

I did send the hardship emails out thank you. I just pray someone helps.

[Moe Bedard]

I hope so too.........

Please keep us updated when you hear something....

[JORDAN63033]

Praise God for this site,
thank you Moe, After over 7 months of trying to get someone to help. I received a phone call today from the CEO's office. They did explain to me about the bk problem, but promised that someone will contact us and help us by Friday.

Question:
From the readings it seems as though when they contact you, do they really follow through in the presidents office. I'm really amazed and gratful that I received that call today.


thank you
Help is on the WAY!

[Moe Bedard]

Jordan,

Yes the President's office does follow through, but you also have to be persistent on your end too and continue to call the number and extension that they personally gave you.........

Things will work out for you.........
I am happy that you have movement thanks to the advice you were given.......

[JORDAN63033]

thank you so much, you help around the clock don't you ***. It was about 4 in the morning when I wrote you the Sat.

Anyway, today I received something from CW attorneys to sign in lieu of court on Thursday for foreclosure proceedings. They want us to pay $1793.00 our monthy morg. and an extra 1020.00 plus the bk that we pay the trustee of 995.00. Do you are anyone think there is something we can do to postpone signing that contract. Maybe something I should have asked that office, I just don't want to push it. I'm willing to pay it as long as I know help is on the way.

[Moe Bedard]

It would seem that way wouldn't it I am the night owl and Andrew and Moe are the morning ones....I don't do mornings too well...........

You could ask that question of the contact from the President's office because I am not quite sure what they want you to sign..........it sounds like it could be the attorneys fees, and the necessary payment for the month to keep you out of foreclosure for the time being......
but definately check before signing.......if there is a number on the paper to the attorneys office, do call and tell them you want clarification of what this offer means.......and tell them that you are in contact with the President's office.
Let us know what happens with that.........

[JORDAN63033]

Thank God for loansafe. & N ACA Countrywide returned another call today. Our current rate is 11.65 % they are offering us 6.25 % for the life of the loan all past due an d back paymen ts included in loan first payment due June 1st. GOD is Good.


Because I'm in Chapter 13 we have to get the court approval before everything is final. My attorney will file the paperwork tomorrow A.M.


I'm so so so glad that you have all of this information.

Thank you *** and Loansafe.

[Moe Bedard]

Jordan...........I am so happy for you!!!.........

This is so great!! What a big relief this must be for you!! That is an awesome rate.......

You are welcome.......

Please update us when you get the court stuff sqared away and the loan mod paperwork.....k.......

[JORDAN63033]

Help with moving forward.

I'm in a chapter 13, soley for the purpose of keeping our home. Prasie God for this site we got results we were praying for in 4 days after 6 months of trying. This is were we are now. Countrywide has agreed to the following

***I have left a message for H/O to call me.****
Provided are proposed terms please review and reply
Contingent Modification Approved Subject to Court Petition Approval
Documents to be sent - pending receiving impound information and Court Petition Approval
New Rate 6.25% fixed full amortized pmt

I understand that no one is giving legal advise, we just need some more help if possible.

According to what I've been told by Countrywide all past due and arrearage payments from the Bk will be included in the loan. They are only adjusting the rate from the adjustable 11.65 to fixed 6.25 % not changing the term or amount of the loan.

My attorney wants to send notices to all my creditors and do different things that will take about 30 days. (I have a good attorney but ...)

I suggested we proceed with the notice stuff but file a motion requesting permission to do a interest rate adjustment (which would take about 3 days )and then if we need to continue with the other process. I'm really not sure what to call this (this being is this a modification, restructure ???) I just don't want to slip between the cracks again. Any suggestion on what we should do to move this alone. I was also thinking if I should ask how long they will give.

I wish I could just write a letter to the judge requesting court approval for a fixed rate adjustment.

Help

[Moe Bedard]

Jordan,

If this is what CW is proposing to you...........quite frankly I would jump on it and don't look back........
As I have told you the BK is a stickler for them and they are willing to allow you to get permission from the courts.
This is called a Loan Modification.........but I am not sure what you are asking regarding what CW is offering you.........
please let us know.......

What is the reason that your attorney wants to send notices to all your creditors for?

[JORDAN63033]

I LOVE the offer, but this is what my attorney is saying and I'm sorry but I'm not with all of this. I just need the Court approval but I don't know how to get it.

This is what my attorney is saying

We're really stuck with the 21-day timeframe, because the arrearage is coming out of the plan, so we have to file a motion to amend the plan at the same time. Depending on how the plan payments change, we may be able to limit service of the plan amendment to just the Trustee, which would also speed things up since he usually objects or doesn't object before the 21 days is up.

This won't fall through the cracks for a couple of reasons - 1) Countrywide has finally given you terms, so they've committed to them and noted that you've accepted them, therefore, you have a contract. 2) We both know who to call if there are problems, and 3) They're obviously nervous about the predatory lending aspects of this, so we can always hold that over their head if they need a little incentive to cooperate.

I need to run new plan numbers, which I'll run by you, and that will determine who we have to serve the amended plan on. Bottom line, we're really only looking at one more day (21 instead of 20) formally, and if it takes a bit longer to get on the docket, maybe another week at the most, so we're still under 30 days. If there's any way to get the consent motion and order to restructure expedited, I'll do that, but I still think we'll need to deal with the plan at the same time, which will delay the restructure order, but not for too long.


????????????????????????

[Moe Bedard]

Jordan, unfortunately you are in a legal situation that needs real legal answers and that is what you have the lawyer for. I don't mean that in a negative light because I completely understand the anxiety and the fear of the unknown. You want answers and you want to know whats going to happen.

I feel what your lawyer has advised is reasonable and you are somewhat at his mercy. So, you have to trust his judgment and he seems like he is up to speed with you.

As far as Countrywide is concerned, they want to help people stay in their homes if they can now. They are foreclosing on too many and there are too many people walking from their homes.

I think your lawyer may want to get them to agree to hold this mod in good standing until you get your ducks in a row. It is just a call and professional courtesy that is actually starting to happen behind the scenes.

Oh and thanks for all the nice things you have said about Loan Safe and the community here. It really means a lot to me and I am sure *** and everyone else to see such grateful words on our computers. It makes all the hard work behind the scenes WELL worth it in every way shape and form.

Stay strong and keep up the good fight!

[JORDAN63033]

Hello everyone,
As you know from above, we followed the advice given on the forum and got results in 5 days. This is were we are now.

Countrywide wants us to lift the automatic stay in order to send us the loan mod paper work.

Again we would be saving our home, interest rate going from a 11.65 % due to adjust soon to a 6.25 fixed for the life of the loan next payment due 6-1.

I dont mind doing the automatic stay, does anyone have any thoughts or experince with this.

Praying to be apart of homesave victory.

[Moe Bedard]

Jordan,

This really needs to be your decision........and it would seem that you are really thrilled by what CW is offering you for the mod......and the advice we offered is working, just like it should.........and that is a great mod rate......but as I told you previously, they will not work with you while you are in the midst of the Chapter 13 BK........
Here is where you have to pull together that faith..........that everything will work itself out in the end.......
You are being offered a great fixed rate........and with CW being a part of Project Lifeline, it gives them a little more time to work with you by putting off the sale........so I don't think that by lifting the automatic stay you would have to worry as they will be working with you........

We want nothing more than to see you in our Success Section too.........

[JORDAN63033]

thanks ***, how long does it usually take to get the paper work. I'm going for it.

[Moe Bedard]

It is usually just a few sheets...........probably an income/expense sheet and a format hardship letter.......which we have.........
If you have axcess to a fax...........I would see if they could fax it first......to save some time......otherwise I think they FedEx it pretty quick.....

[JORDAN63033]

Help please, I just need a little bit of something?

When I hired my attorny in my contract I made sure it stated the Specifically, we will ask the Court to grant an order allowing you (me) to restructure your mortgage with NACA and Countrywide ..... Because, we had to ask our other attorney to resign becasuse he gave us a lot of problems. I spoke with Countrywide last Wednesday (YEAH) they gave me the great terms and told me what they needed. They also told me that they could not and would not give us anything in writing. (as I have been told it is hard to get them to work with you in BK) They did, now my atty is really dragging us through. This is the lastest email she sent to Countrywide: All answers that I've provided her with and told her to file the motion

Here's what I need:

1) Confirmation that terms are: rate 6.25% fixed; 30 year term.
2) I need to know if there's a new maturity date or if the loan is being reamortized using the new rate and existing maturity date.
3) I need to know what will happen to the arrearage that is currently being paid through the Ch. 13 plan (Will it come out of the plan and be included in the restructure, so that the mortgage will be paid outside of the 13 plan?
4) I need to confirm that no fees or costs were paid by Ms. Jordan for the restructure
5) I need to confirm that no new money has been or will be advanced (so I can write this as a restructure motion rather than a request for a new loan)
6) Ms. Jordan told me that the first payment made under the stipulation agreement was rejected due to the pending restructure. I need confirmation of that as well. We'll also need to cancel the stipulation agreement as part of this motion.
7) I would like to file this as a consent motion and order, so I need to know who will be signing/approving on Countrywide's behalf. Millsap and Singer is representing Countrywide in the Chapter 13 case, so I'm assuming they will need to sign off on this. Regardless, someone will need to sign the motion on Countrywide's behalf, so I need to know who to send it to for approval. (The idea is that I'll sign and have the Trustee and Countrywide sign as well, so the judge knows everyone agrees to this.)

If you could let me know, I can finish this up and send it to Countrywide and the Trustee. Thanks!


My question is due you think I could contact the office of Mr. Rosenbach and see if they would be willing to co-counsel if they understand what needs to be done in situtations like this? HeLLLLLLP


Any more advice or help would be great!

[Moe Bedard]

Jordan,

Don't forget that you are in charge and you can do whatever you please as far as agreeing to this loan mod or not. It is 110% up to you. It seems as if your lawyer is definitely looking out for your best interests here. I am actually VERY impressed. However, like you said, this can convolute things in the long run. But, I don't see that these things are a huge issue.

You really should know all these things and it is RARELY followed by anyone. You have great council Jordan.

You'll make it through this, you're a fighter!

[Moe Bedard]

Oh and you don't need co council in my humble opinion and I believe Marshall would say the same thing

[JORDAN63033]

thank you so much Moe (Loansafe) I'll go to sleep and look for a postive out come very soon.


I want to be added to the home save # as loansafe continues to help people like us.

[Moe Bedard]

Awesome! You are most welcome and sleep good and I will to with those nice comments that keep us all going. It's great to know we are appreciated.

Good night!