My Countrywide Saga to SUCCESS!!

[MRSTEEPER]

Hi all,
I've been a lurker here for quite some time and decided to tell my story and ask a couple of questions. I applied for a loan modification on March 3 2008,and found this great site a day later!! After confirming my fax was recieved with pay stubs,hardship letter and bank statements I followed that "golden Rule" of call call call and fax fax fax!!! After 50 plus phone calls and a QWR sent certified to 4 places still no negotiator assigned. I finally called the office of the president and got a VERY helpful lady named Nikki Worthington who finally got a negotiator assigned to me on May2,2008.I was given her direct phone number and left 9 messages and never recieved a return call from her until I called Nikki complaining of no call or contact with my negotiator and I wanted to know the status. Katre Kitchen (my negotiator)then called me on May13, 2008 and said all was submitted to mgmt for approval. I called today and found out that my loan was returned to the original rate of 6.5% for 5 yrs. I was so thankful for this ,but then found out from the ARMS customer service that I had to send in a new hardship letter and pay stubs with an income and expense statement before they would put May and June payments on the end of the loan. Is this usual? I only owe May payment right now but June payment will be due soon. Do they figure food ,gas etc when determining what you have left after paying all your bills each month? I show about $263.00 before gas and food. I know there is no magic number but do you think I'm close? I guess just a little positive reassurance is needed after this battle!!! I was also told the 6.5% was guaranteed and that was called a rate reduction, and this part I still have to do is the modification. I thought this was all a modification.Has anyone else had to do this and wait to be approved on the payments being added to the end of the loan? Thanks for your wonderful site I would have still been waiting in the Countrywide Twilight Zone had I not found this site and followed the advice.

[Moe Bedard]

Hi MRSTEEPER,


Welcome to the forum and thank you for joining...........
I am glad that you found the advice useful on this site and it sounds like you are on your your way to a succesful outcome........

In answer to your questions.......
yes they do figure food and gas into the equation, but just keep your numbers around the $100-$250 range and you should be fine.......

They will ask for updated financials if they don't have one current full month worth.

The rate reduction is part of the modification process........the rest is to capitalize the two payments into the principle balance......

the approval for the payments being added is the last step........so you should get the approval soon......

Hope this helps..........
If you have any other questions let us know.........

[MRSTEEPER]

Hi ***,

Thank you for your response to my question. I guess what I am asking is my expenses have increased due to an ex spouse getting part of my husbands retirement pay, leaving us with about $300.00 left BEFORE food & gas expenses. We have had to use our credit cards to help off set these expenses the last month. Do you think they will say we don't have enough for them to roll these 2 payments into the end of the loan? Also if they won't do this will they say we won't get the intrest rate reduction they told me we would since financials have changed? Also ex spouse has agreed to take less from hubbys retirement but it is still in the works, so should I tell them in my letter that we will have more left after this happens? I don't want to jepordize our intrest reduction but it would help us so much if we didn't have a payment until July (when they said the reduction would go into effect).
Again thank you so much for all of your helpful information. I couldn't have done this without you guys !!!!

[Moe Bedard]

With Food and Gas.............you have the advantage.......just see that you get to the $100-$250 range..........if you have $300 left before........then allocate $200 and break it up accordingly and you will be fine.........

[MRSTEEPER]

Hi Everyone,

Well I think I am on my way to a sucess story!!!! After submitting updated financials on May 21st (and making those 3 calls to confirm this) I was told I had to be assigned a new negotiator to see if they could put my May & June payments into the principle of the loan allowing me to start paying my reduced payment in July. I decided to start utilizing the numbers that I have gotten off of this site to see if this was the case. Since it took almost 3 months to get my 1st negotiator I was not willing to wait that long again! I got into contact with Tabitha McKeller who returned my call with-in 2 hours on Friday May 23rd and told me she would call me today May 27th. She just called me 20 minutes ago stating she was drafting the documents as we spoke showing my reduced rate with the May & June payments added to principle. She advised me that she would overnight the documents to my home and all we needed to do was sign and notorize and send back. I hope I'm not excited for nothing but it sounds like the real deal. I will keep you posted as soon as I recieve the documents. Again I couldn't have done it with-out the info on this site. My advise to any-one dealing with Countrywide is follow the advise of the wonderful people on this site.
CALL CALL CALL FAX FAX FAX and if you don't like what you hear from one person call again and talk to some one else, you will eventually get some one who will help move things along, the office of the president did the trick for me. I will let you know when I get my docs and if they are what they say they are. Again thanks for all the helpful info.

[Moe Bedard]

This sounds GREAT!!

Let us know when you get thos docs..........k.......

[MRSTEEPER]

Hi ***,
Great news!!! I got my docs by Fed-X yesterday & everything was just as Tabitha said it would be. I called her and went over everything (figures etc)
We have intrest only with our escrow acct for taxes and ins & the rate was reset to 6.5% until 2013. Hubby & I signed docs, got them notorized and Fed-X'd back this am.I hope this means we are really done with this modification. I know mine was quicker than some of the others on this board, but it has been a constant pain in my--- to use lunch hours and breaks at work to make the calls needed to keep on top of things. My most helpful people at CW have been Nikki Worthington & Tabitha Mackeller They were the only ones that called back when they said they would and actually got things done in a timely fashion. Again thank-you for all of your help.Just a bit of humor...my husband told me I was like a hemorrhoid to CW right up their --- every day. Hey it worked!!

[schwefls]

Congratulations, happy for you. Party Hardy ths weekend you deserve it.

[Moe Bedard]

Congratulations!!!!

This is such good news!!!

I am so Happy for You!!!!


And your hubby is one funny guy..hemorrhoid....that is a good one!!

[whatdidigetinto]

congratulations!i guess it paid of to be a hemorrhoid lol!

[ergoof123]

awesome! ssoooo happy for you!!!!!!!!!!!!!!!!!!!!!! much health and happiness for the future!!!!!!!!!!!!!!!

[RudyJay]

Yeh .. Great job way to stay with it... good luck to you and your family.

[ergoof123]

thank you. take care of yourselves. eg.

[MRSTEEPER]

Hi All,
Thank you for the kudos!!! This site is awesome.Too bad the people here don't work for some of these mortgage companies, you could give them lessons in customer service. Again I'm sooo thankful for the outcome and it couldn't have happened with out this site. HUGS TO ALL!!!!!!!!!!