Countrywide SUCCESS!! This Forum Works!!

[alikeith]

The reson i ask this is this.

I am currently 90 days behind on my mortgage. I have not recieved anyhting from them stating this. Before when we were almost 90 days behind, they served us with Papers to start the foreclosure process. This has not happened yet.

I know that Countrywide is one of the banks involved in Project lifeline. Could this be why also that maybe they have not started anyhting?

Just wondering.....

I am going to get a payment in, electronically here soon so i hope i am safe.

[Moe Bedard]

Hi alikeith,

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

Project Lifeline was put in place for those that are trying to get workouts from the five large lenders........and you would have already had to receive a foreclosure notice or a sale date, and been working on a modification with CW for them to put the foreclosure date out the 30 days.
The foreclosure process has become backlogged in the court systems.......and that is what is causing the longer period of time before receiving notices, but it isn't that way for everyone.........so at this point it could happen at anytime.......


Are you in the process of working on a modification?

[alikeith]

Thanks for the welcome.

No we are not in the process of a modification. We actaully had one 2 yrs ago, so we cannot do one again.

We have had some financial difficulties over the past few years but things are getting better. We plan on getting our mortgage caught up over the past couple months.

I am just suprised Countrywide has not said anything to me. I hate talking to the workout dept as i always get the peopel in India. I know that sounds horrible but they can be very frustrating to talk to.

Our ARm was set to adjust next month and 2 months ago, we reciefed a letter from Countrywide saying they were modifying our mortgage to keep it at the same intrest rate for the next 5 years which i thought was great.

[alikeith]

Sorry i ment to say over the next few months we plan on getting it caught up!

[Moe Bedard]

If you are being routed to the outsource center in India, that isn't the workout center.............

What is the interest rate that they are keeping you at?

[alikeith]

Yeah they say they are the workout dept but who knows.

It is at 8.35% not too bad considering our credit is trashed. I would not be able to do better.

Do you know much about their forbearance programs?

[Moe Bedard]

Well modification isn't based on credit........which is a good thing for most.......
In a forebearance they break the past due amount up over a set number of months and add it to the current payment amount.......so it raises up to a ridiculous amount that really doesn't help anyone........

If I were you this is what I would do............
If when you do your household income versus your household expense budget you can show a surplus of around $100-$250 at the end of the month.......I would try for another modification.........at his point you really don't have anything to lose for trying...........and whoever told you that you can only have one chance at a modification wasn't accurate...........

To get into the right department you would need to put your hardship letter into the body of an email and send it to each of the email addresses below........you should receive a response within 48 hours........and you can see if you can receive a modification........

[alikeith]

It was my work out negotiator that told us last time that this was the only modification we could do. They only allow one.

[Moe Bedard]

Just send the emails anyway...........they go to a higher dept.

[alikeith]

hi,
just thought i would let everyone know of something countrywide did for me, and i did not even ask!

I received a letter back in April sent via FedEx. My current loan is at 8.35% and was scheduled to adjust here next month. Countrywide sent me a letter, stating they were going to keep my rate where it is, and not adjust it for the next 5 years.

Thought that was great, considering i did not even ask for this.

Sure 8.35% i snot the best rate, but i think its fairly decent for my credit, considering all my late payments.

Ali

[alikeith]

Are there any of those people that are best to e-mail? I really dont want to send out a bunch of e-mails to 15 people.

[Moe Bedard]

Ali,

The email list is a formula and if you break the formula chain you might not get a response from anyone...........they are in a dept. so it is always different people that answer.........all you do is just copy the emails into the "to" area.

[alikeith]

Is anyone familiar with this? Has anyone had any sucess with it?

It states you will be contacted once you are 90 days behind. This has yet to happen for me and i am over 90 days behind.

Thanks!

[Moe Bedard]

For Project Lifeline you would have to have a foreclosure date that is less than 30 days away and be working on a modification with your lender.......what it does is allow for the foreclosure date to be moved 30 more days out so the lender has time to do a workout with you......

[alikeith]

So for sending the e-mail, do you recomend sending it each time to individual people or one e-mail with everyone on it?

[Moe Bedard]

Most just send it to everyone on the list at once.......

[alikeith]

Thanks! I am getting ready to send it. I am kinda afraid as i dont want to make my account stand out and therefore start foreclosure proceedings.

[Moe Bedard]

Ali,

It isn't going to make your account stand out.............the lenders want you to keep in touch with them when you are in default.........they don't want you to ignore there calls.........
You will be put into the correct dept. for modification help.........and just stay in touch with the contact person you get........

[alikeith]

HI,
Just wondering if anyone here has had a loan modification with their current lender, then had to get another one a few years later?

I was told by Countrywide a few years ago that once you have a modification, you can not have another. Maybe this has changed with the housing crisis?

Looking for an info from others.

Thanks!

[Moe Bedard]

Ali,

Please just wait to get a response from the emails and give it a try............you are already 90 days down.........you might actually hear some good news from the process if you just give it a chance to work like it is supposed to..............

It doesn't matter if you had a modification before and were told that you couldn't get another one...................that was then and this is now...........

What have you got to lose by giving it another try..........you have to be patient...........the system works.............go look in the Success Section.......I just put 3 more in there today from CW........that followed the system and advice here..........

[alikeith]

You keep moving my posts...lol

I started the new one in the appropriate section, or so i thought.

I am definetly going to try.

[Moe Bedard]

Yes............at the risk of repeating ourselves......over and over..........we like to keep the questions and stories in one thread.......we get over 100 posts a day to answer and give advice.........so it just makes things alot easier if you keep your questions in one thread.........

[alikeith]

Well i just checked my voicemail, i had a message from Shamika in the Loan Services Ctr. 888-219-7773 She said to call and anyone could help me.

Is this the correct dept? Whne i call it, it stil is the home retention.

[Moe Bedard]

Not yet wait until you get a response from the emails..........this response will be coming from the Office of the President.......

Home Retention is calling you because you are behind 90 days......they are going to ask you for money up front.........

if you sent the hardship letter you should receive a response by Friday on that......and what they have been doing is giving you the contact information in an email...........not by calling you....

[alikeith]

Great! I was not sure if i would actually get an e-mail response or not.