My Countrywide TKO Success!!

[vinson4379]

Basically, My wife and I have been Countrywide customers since April ’05. When we first got this mortgage we were not well-versed as to how the ARM worked...especially the one we have now. For the past 2 years, we have been trying to get a fixed rate to no avail.

Recently, we submitted a request for a loan remodification in December 2007, a process we were told takes 70 business days. I believe my 70 business days ended March 31. I called in January ’08 to get an update from the negotiator and was told that my file changed hands to another negotiator. I spoke with this negotiator once on 3/15 and she told me that they had big delays and if my package was approved, then I would get a UPS package...no promises. One month passes and I send an e-mail on 4/14 and Countrywide still did not respond, only sending me the general message “someone will respond in approximately 48-72 hours”. Long story short. I sent an e-mail on 4/28 which triggered a phone call to my home. I inquired about my status and was denied because my hardship reason was not viable (birth of child, reduced income). I called the hope # on Thursday and was told that I should have requested a LM solely on the basis of the high interest rate. She told me to call loss mitigation and re-request LM. She said that she would send her co’s recommendation for LM on my behalf. After I called them, they denied me AGAIN. I asked for rate reduction too...so that is another waiting game. My former rate was $895.88 @ 8.75%, it reset in April to $1121 at 10 something. Then it will reset in October to $1286. We were trying to get a LM or reduced rate locked in BEFORE 5/1. Countrywide waited THREE days before our payment date to do this. I HATE being on the phone with them it is exhausting. Any help you can provide will be much appreciated

Thanks in advance,

[Moe Bedard]

Hi Vinson4379,

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

What is the reasons they gave for denying your modification twice?

Does your household income versus the household expenses show a surplus?

What type of loan is this......ie.......interest only, option arm....?

Are you delinquent on payments?

What is the loan amount and current value of the house?
What state are you in?
Is this a refi or a purchase loan?
One loan or two?

[vinson4379]

Here is the message that has just been posted:
***************
Hi Vinson4379,

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

What is the reasons they gave for denying your modification twice?
1st--- birth of child and reduced income (reasons not viable)
2nd--- deficit in debt to income ratio

Does your household income versus the household expenses show a
surplus?

What type of loan is this......ie.......interest only, option arm....? ARM 3-year fixed, 27 year adjustable

Are you delinquent on payments? No

What is the loan amount and current value of the house? $122,000 roughly
What state are you in? GA
Is this a refi or a purchase loan? Refinance. This house belonged to a friend of ours and we refi'd to get it in our name.

One loan or two? Only one loan

[Moe Bedard]

is your income and expenses at this point able to show a surplus.......

This is what they are looking for in order to approve a modification or offer you a rate freeze........

the value and your loan amount are exactly the same?

You will have to show that you are able to afford payments going forward to be approved for a modification...........since you were denied twice they will be looking for this especially...........

What you need to do to get a faster response time is put your hardship letter into the body of an email and email each of the addresses below..........they should respond to you within 48 hours and give a contact and extension of the contact to work with..........

I hope this helps you out.........
Please keep us updated on your progress.........

[Andrew]

Yes countrywide will not give a mod if you have a deficit. You need roughly a surplus of 100 or more.

Also a side not some investors with countrywide are wanting 30% down of all arrears at time of loan modification.

[vinson4379]

I finally e-mailed those addresses that were forwarded to me. Thak you!
I did a receipt/bill analysis, not guestimates for the debt to income ratio...I did have a surplus!!!! Those phone numbers are actually real to. My request was for a rate reduction to be retroactive from 12/19/07 when we began this LM/rate reduction process. A big difference in payment I hope. from $895 to $1121 (this month) to $1286 in October----I definitely need help


This website is awesome and I found it TODAY using "fight countrywide" as my search query via yahoo

Thanks a million!!!!!

[Andrew]

Also call countrywide and update your financials and reapply for a loan mod.
800-669-0102-thats their loss mitigation line

[vinson4379]

Whoa! I told the supv, "Jake" that I have been waiting since December '07 and I would not wait an additional 3 months before my rate resets again in October. He said that was their "policy" My former payment was $895.88, it is now $1121, and will be $1286 in October. Having a 3-year fixed, 27 year adjustable ARM loan sucks!!

I told the "Jake" that according to "policy" CW has to send me written notification addressing my complaint, which NEVER has been addressed in writing and that I did not want my home to go into foreclosure. Aside from telling me the 3-month rule over and over again, he let me update my financials and told me that all I would have send via fax was my recent paystubs and my husband's veteran's and social security payments. So, I'm gonna do that TODAY. I'm at work, so I have to use my bank statement in order show the vet's and social security payment. I think this is so sad to be dealing with all of this. I called my husband's VA rep American Legion (after an attorney told me that some of his clients had success with CW when their VA rep talked for them) He could not help. I just got a letter yesterday from the GA Dept of Banking and Finance, basically stating that did not have the authority to convince CW to change the terms of my loan, BUT CW had until 5/16 to address my complaint in writing, otherwise they would face "administrative sanctions". They faxed and mailed this to SR VP of Legal Counsel, Janis...something?

Could someone quickly show me how to find the TILA/RESPA violations?? A "friend" of ours stuck us in this horrible loan, trying to make a buck or two. We really thought that he had our best at heart. My husband's cousin tried to help us refi in Mar and discovered and noted all the crappy things that we had in this loan...pretty much that is how we NOW understand ARMs

Thanks again to Moe and the other moderators to helping me to SOUND OFF.

[Moe Bedard]

Vinson4379,

If you haven't already done so, you would need to QWR the file to get the information you are looking for............then you would really need someone with a trained eye to look for the RESPA/TILA violations that you have........we offer a Forensic Loan Document Review.......you can click on it to the left of the forum.

Put together a QWR (Qualified Written Request)

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.

There is a blank copy of the request in the Homeowner's Tool Box to the Left of the Forum


Make sure you send it certified mail return receipt required to addresses below:

[vinson4379]

Well, I was missing one vital item from my e-mails to CW that I sent Tuesday...my phone number :doh: , therefore, I have not received any phone calls. I re-sent all of my e-mails, phone number included. I also faxed my QWR and I will be sending it certified mail tomorrow.

I absolutely cannot wait for MY success story. I know the process has taken up to 8 mo for some, but aaahhh I've gotten no where in 4 !! This is my first home with my first husband, where we had my first baby and 2nd baby...it's the only home they know. I'm doing all of my CW legwork from work because my time has to be dedicated to my 20 mo and 3 mo girls...I can't drag the CW call/e-mail/fax campaign home because I'll be on the net/phone for hours

crossed fingers and toes for a response today

[vinson4379]

I think that I got assigned a negotiator? I called CW to talk with Latisha Jackson--negotiator, then I was transferred back to the main loan servicing center.

-I asked to speak with Latisha and the agent goes do you want to talk with Lilliana Garcia?? I'm like who?

-She goes, Lilliana Garcia, the person assigned for loan negotiation. Then she tried transferring me to her w/no success, BUT did give me her direct number...AM I getting somewhere?? CW has never offered me anything before now.


Whaddya think???

[Moe Bedard]

Vinson,

When you do the emails they will contact you off the emails within 48 hours..........so if you had to resend them today, just give them a chance to respond to you.........otherwise you will not get a negotiator from the President's Office........you will just keep getting put into the regular home retention dept.

Please keep us updated through this thread with any questions and updates.......

[vinson4379]

***-


I just talked with Raquel Robinson and she told me that my account and complaint via the attorney general had been forwarded to the legal department...what next??

[Moe Bedard]

You can check with the Legal Dept...........give it some time to arrive on someones desk........then just check to make sure they received it o.k...

COUTRYWIDE LEGAL DEPT.
PARALEGAL
MARY ARCHER
972-526-3610


All of the emails that I posted in your thread are to key figures in CW.........
If you also filed a complaint with your Attorney General on top of that, then I guess the Office of the President is not the Dept. that is able to help in that case...........I am not sure........everyone just emails the contacts and that is enough to get them the response necessary..........


I know it took a while for you to find us here.........so if your complaint was already filed I guess the Legal Dept. is looking into your file......

Just call them at least to make contact with that dept..........

[vinson4379]

I did not file a complaint with the attorney general. I filed a complaint with the department of banking & finance , who sent me a letter on 5/1, which required CW to respond to me before close of business May 16. I sent this to my local congressman. I WILL wait until Monday to call back...to the legal department

Thank you again....whew!! 1/2 of this load is starting to lift off of me

[vinson4379]

Legal dept just called me today, to let me know that she will be the paralegal reviewing/researching my case. First, she goes I understand that you KEEP calling to check on the status of your complaint , when In actuality I am waiting for my rate reduction/loan mod fed ex package---Hello?
I did not know that CW has their OWN "Hope Dept". She told me if you want to I can transfer you to there...I'm like nope I want to talk with YOU. I told her the HOPE dept I referred to was the one Pres Bush

She EMPHASIZED that she has until May 16 (this was the banking and finance complaint) to resolve my matter. She laughed when I said I am calling to make sure SOMEONE has RECEIVED my complaint.

***, you got it goin' on...Thanks for schooling me...I don't want to sound desperate. Only determined and confident with the CW.

[Moe Bedard]

Vinson,

Thanks......

We are here to help anyway that we can..............


Keep us updated.......

[vinson4379]

OK, ***...or anyone else can chime in


When they call me next week, how do I negotiate my terms, meaning how I want my complaint to be resolved. They will also be sending me something in writing by next Friday. Here are the key items I decided to focus on.

---CW did not stick to the 70 business days for my loan modification
---I felt CW DELIBERATELY waited until 3 days before May 1 (my first jacked-up payment) to tell me that my loan modification was denied.

* They could have told me that my hardship reason was not viable when they received the paperwork on 12/20/07. I submitted my financials then, but was not denied based on finances, I was based on the birth of child

*2nd time I was denied, the agent told me immediately, no waiting period.

These are just subsets of #2.

When I fight this time, I want to WIN!

[vinson4379]

Sarah. She told me to follow-up with her if I don't hear from them in a few days...I'll wait

[vinson4379]

OK, ***...or anyone else can chime in


When they call me next week, how do I negotiate my terms, meaning how I want my complaint to be resolved. They will also be sending me something in writing by next Friday. Here are the key items I decided to focus on.

---CW did not stick to the 70 business days for my loan modification
---I felt CW DELIBERATELY waited until 3 days before May 1 (my first jacked-up payment) to tell me that my loan modification was denied.

* They could have told me that my hardship reason was not viable when they received the paperwork on 12/20/07. I submitted my financials then, but was not denied based on finances, I was based on the birth of child

*2nd time I was denied, the agent told me immediately, no waiting period.

These are just subsets of #2.

When I fight this time, I want to WIN

[Moe Bedard]

Vinson,

Those types of questions need to be addressed with the dept. that has the complaint or maybe ask an attorney on that, these are sevicing complaints and that falls under RESPA and that is through HUD, with them you need to file a written complaint the address is at Homes and Communities - U.S. Department of Housing and Urban Development (HUD).......
I don't know how you approach it though because modification time frames and what hardships will help you get a modification or not are not written anywhere.........the employees are giving estimated time frames and they are careful to say that.....
Here on the forum based on the success stories only.........we know that household expenses versus household income should show a surplus of at least $100-$250, if you don't show a surplus you get denied.........
As far as the 70 business days for a mod........there isn't any set timeframe.....I was told it could take 45-60 days and mine took 5 months, but I wanted it bad enough that I was willing to wait and submit whatever it took to get it done.....but I kept calling 2-3 times a week to stay on top of the pile..... what they give you is an estimate........but there isn't any way of them knowing how long your particular case will take....
These loss mitigation people are hourly employees that have hundreds of files on their plate..........it is very hard for these lenders to find people that are willing to take the abuse and emotion day in and day out and stay, so the turn over rate is very high and unfortunately the files get shuffled around as a result........these departments are stretched very thin.....employees don't stay........

The emails that I gave you will get you into the office of the president and that is the office that will help......

[vinson4379]

Ok. I'll stand firm.

[vinson4379]

This morning I was wondering should I call CW and lo AND behold...they called me. It was from someone from the president's office trying to find me a negotiator. She was totally mystified as to how my faxes were "lost" because there were TOO many notes associated with my account. She asked me to fax her POI, Expense sheet (total breakdown) and fwd my original hardship letter....the one I sent to Sarah Perek. I e-mailed her all of that save for the POI. She gave me her phone number and e-mail, but I must have the wrong digits trying to verify her number.

[Moe Bedard]

Vinson,

See if you can get it by calling in direct and ask for her extension so you will have it........

OFFICE OF THE PRESIDENT
400 COUNTRYWIDE WAY
MS SV-314
SIMI VALLEY, CA 93065
1-805-578-6380
1-805-578-6311

[vinson4379]

I did...I did not have her extension. She told me 3-4 business days, so that's like Wednesday. Wish me luck!