Success!!! with Countrywide - Loan Modification Forum

mcmobley · 03-10-2008, 05:38 PM

I had a Countrywide subprime loan that went from 1350.00 per month to 3100.00 last September. I had a life changing event in October that limited me from being able to make the enormous payments.

I contacted Countrywide to modify the loan and was told in January that I qualified and they (1st person I talked to) would send me paperwork within 10 days to fill out. Two weeks later I called again (2nd person I talked to) and was told "no, you don't need to fill out anything. Someone has been assigned to your case and will call in 24 - 48 hours. Three days later I called (3rd person I talked to) and was told No, they won't call you they are waiting on documentation - 1 month pay stubs, 2 months bank statements and a hard ship letter) please fax. I send the papers to the fax number call in 1 week to get progress (4th person I talked to) and am told they never received it and ONLY HAVE 1 FAX NUMBER FOR THE ENTIRE loss mitigation department. I spend 16.00 to expedite mailing the paperwork to them and call (5th person I talked to) I am told they haven't received the documents when the post office says they were delivered. I wait 1.5 weeks and call again (6th person I talked to) they JUST received my expedited mail but the case worker hasn't seen them yet. They will send her an email alerting her they are there and to call me within 24-48 hours. She doesn't call...I call back ( 7th person I talk to) who reiterates they will send another email to her requesting I call - she will call in 24 - 48 hours - she doesn't call. I call today 6 days later and am told by (8th person I talk to) that I should have sent 2 months of paychecks instead of 1 as I was originally told.

I asked to escalate to management and was told they were "too busy with other escalated calls" - she would send an email to have someone call in in 24 - 48 hours.

I have NO faith Countrywide has any intention of modifying my loan especially since I read they just LAID OFF 10,000 people. Oddly enough - they also planned a major ski trip for all the execs the same time as the layoffs.

What recourse does anyone have with this type of business practice? I am at a loss for how to proceed.

03-10-2008, 06:44 PM

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

You are getting the royal run around so I am giving you a list of contact below and the instructions for filing a QWR -Qualified Written Request, this tends to get their attention often for the pure fact they figure that you are totally out of patience....which you are, and legitimately so.

This is normal, usual and customary business in the modification and forbearance issues, they are not used to this volume, never have had this in the history of lending ever before. This is not something that they have enough, let alone just plain experienced people in or doing for them.

My suggestion is always, call, call, call and fax, fax, fax.....here is a number that tends to get the Home Retention Department 866.344.4172...use 0000 until they ask in the mechanical voice the second, second time if you want to speak to a human, say yes, they will say something again and do not say anything, it will transfer to a human...hopefully a sentient one....

Andrew · 03-11-2008, 07:42 AM

Send an email to all these email addresses. Make sure everyone sees the others emai addresses so they know you are serious.

pressroom@countrywide.com, david_bigelow@countrywide.com, angelo_mozilo@countrywide.com, chris_oltmann@countrywide.com, vice_president@whitehouse.gov, OCIP@do.treas.gov, customer_service@countrywide.com, service@naca.com

mcmobley · 03-11-2008, 01:00 PM

Thanks so much for your advice - I will start sending letters!

much appreciated

03-11-2008, 04:49 PM

Not just letters, but also call, call, call and fax, fax, fax and e-mail, e-mail, e-mail....you have to get their attention in every way possible.....squeaky wheel gets the grease....

Also send the QWR request...but the other has to be done daily, no joke this is a second job.

mcmobley · 06-22-2008, 10:00 AM

Thanks to this forum and constant diligence with calls to the modification department Countrywide has finally modified my loan.

Though not a "perfect" situation, I feel it is a fair one. They modified the interest rate to 3.75 for two years, then 5.25 for the next 3, giving the market (hopefully) enough time to recoup so I can either refinance or sell it. My payment are almost a third of what they were before as we begin the modification, plus they are PI, rather than just interest.

Thanks so much for your help!!!!

nitag · 06-22-2008, 10:09 AM

Congratulations!!!!!!

nitag
__________________________
Avelo Mortgage modified my loan!

Moe Bedard · 06-22-2008, 10:14 AM

mcmobley,

Congratulations on the mod!!

Have you sent the docs back already?

mcmobley · 06-22-2008, 10:20 AM

Yep, docs signed and sent back and now first payment made!

RudyJay · 06-22-2008, 11:15 AM

So glad for you... congratulations rj

Moe Bedard · 06-22-2008, 11:35 AM

Congratulations to you and your family! Wow, 3.75%

That just shows us, that they are willing to go very low on the rate to keep people in their homes.

Great job and best of luck to you!

Irish Gal · 06-22-2008, 11:39 PM

Congrats Mcmobley! Who is the investor on your Countrywide loan ? Who was your assigned negotiator ?

Thanks - Irish Gal

schwefls · 06-23-2008, 05:53 AM

mcmobly:

So happy for you, party hardy, you deserve it.

mcmobley · 06-23-2008, 07:37 PM

Hi Irish gal,
Looking over my modification - my lender is Countrywide home Servicing LP. I see no reference to the negotiator for this, since it changed again right before this modification went through. I really thought that would set me back again, but clearly it didn't.

elpjohnson · 06-23-2008, 08:42 PM

Congratulations on your mod....awesome!

Abbykatesmom · 06-23-2008, 08:48 PM

MCMobley,

Congrats to you! I am so happy for you. It is a great feeling isn't it. Enjoy and rest easy.

mcmobley · 07-12-2008, 05:22 PM

I signed modification docs as previously stated. Called several times since May to confirm all was well with my mortgage and told the modification went through.

I received a statement a statement today and noticed they had tacked close to $12,000.00 on to my loan amount and I was still paying NEGATIVE AMORTIZATION. I called thinking that surely there was some mistake and was told that in JUNE 2008, 1 month after I signed modification papers, Lisa Keller (the workout coordinator- finally was given her name today) DENIED the modification because the "investor wouldn't agree".

Can they do this???

elpjohnson · 07-12-2008, 05:48 PM

What???? That is ridiculous!!!! How can they get away with that? Don't they have to honor the contract that was signed or do they just have to honor the original loan documents? I am so sorry that you are going through this. It's crap like this that really pi$$e$ me off about these lenders! I just don't know how they can get away with something like this, it's just outrageous!

frazzledma25 · 07-12-2008, 06:31 PM

This is crazy!!......time to get a really good lawyer....don't give up!!

frazzledma25 · 07-14-2008, 08:13 PM

hey mcmobley....did you find anything out today?? keep us posted

RudyJay · 07-18-2008, 12:08 PM

Hey..have you found out anything today? This happened to someone else in the forum..rj

Andrew · 07-18-2008, 12:23 PM

mcmobley,

Send me and email regarding this, There is one other person on the forum that the same thing happened too. If you give the lawoffice above a call, it will be handled for you Pro Bono.

busymomof3 · 07-28-2008, 12:40 AM

OMG this happened to us as well in Dec. 2006 we were given a loan modification and made the payments then I called in July of 2007 and told them that we were late with June and July but it would be paid shortly and was told only at that time that we were DENIED on our modification because the investor would not allow it. We had the $12,000 in "fees" added and when I asked what that was I was told it was the fees that Wells Fargo charged them for pulling us out of foreclosure in Dec. 2006.

I was told at that time that we had to get on a repayment plan and we would keep our home so I agreed to it all I didn't know I could fight it. Since then they have redone our payment plan twice (so 3 times total)because the payments are so high (well for us) that when emergencies come up we have to pay out of pocket (we have zero credit cards and our credit is awful). I just sent in paperwork to see if we can get our property taxes lowered and that will help. We also have a VA loan.

The more I read the more I believe that Countrywide got over on us too by adding "fees."

I no longer have the modification paperwork it got left at the job I got laid off from and was distraught from that and left alot of personal things and the jerk that let me go threw it all away. I do have a letter that states "As of July 1, 2007 we want to inform you that your loan modification has been denied" because we were NEVER notified prior to me calling in. They also added in all the late fees that Loretta Pillado took off to help us out.

Is there anything we can do? Is it to late since it is from 2006/2007? Sorry wasn't sure if I should have started my own thread.

03-10-2008, 05:38 PM	#1 (permalink)
mcmobley Member Join Date: Mar 2008 Posts: 8 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Success!!! with Countrywide I had a Countrywide subprime loan that went from 1350.00 per month to 3100.00 last September. I had a life changing event in October that limited me from being able to make the enormous payments. I contacted Countrywide to modify the loan and was told in January that I qualified and they (1st person I talked to) would send me paperwork within 10 days to fill out. Two weeks later I called again (2nd person I talked to) and was told "no, you don't need to fill out anything. Someone has been assigned to your case and will call in 24 - 48 hours. Three days later I called (3rd person I talked to) and was told No, they won't call you they are waiting on documentation - 1 month pay stubs, 2 months bank statements and a hard ship letter) please fax. I send the papers to the fax number call in 1 week to get progress (4th person I talked to) and am told they never received it and ONLY HAVE 1 FAX NUMBER FOR THE ENTIRE loss mitigation department. I spend 16.00 to expedite mailing the paperwork to them and call (5th person I talked to) I am told they haven't received the documents when the post office says they were delivered. I wait 1.5 weeks and call again (6th person I talked to) they JUST received my expedited mail but the case worker hasn't seen them yet. They will send her an email alerting her they are there and to call me within 24-48 hours. She doesn't call...I call back ( 7th person I talk to) who reiterates they will send another email to her requesting I call - she will call in 24 - 48 hours - she doesn't call. I call today 6 days later and am told by (8th person I talk to) that I should have sent 2 months of paychecks instead of 1 as I was originally told. I asked to escalate to management and was told they were "too busy with other escalated calls" - she would send an email to have someone call in in 24 - 48 hours. I have NO faith Countrywide has any intention of modifying my loan especially since I read they just LAID OFF 10,000 people. Oddly enough - they also planned a major ski trip for all the execs the same time as the layoffs. What recourse does anyone have with this type of business practice? I am at a loss for how to proceed.

03-10-2008, 06:44 PM	#2 (permalink)
Mary Salzer Guest Posts: n/a	Re: Countrywide - too many conflicting stories Welcome to the forum and thank you for joining... You are getting the royal run around so I am giving you a list of contact below and the instructions for filing a QWR -Qualified Written Request, this tends to get their attention often for the pure fact they figure that you are totally out of patience....which you are, and legitimately so. This is normal, usual and customary business in the modification and forbearance issues, they are not used to this volume, never have had this in the history of lending ever before. This is not something that they have enough, let alone just plain experienced people in or doing for them. My suggestion is always, call, call, call and fax, fax, fax.....here is a number that tends to get the Home Retention Department 866.344.4172...use 0000 until they ask in the mechanical voice the second, second time if you want to speak to a human, say yes, they will say something again and do not say anything, it will transfer to a human...hopefully a sentient one....

03-11-2008, 07:42 AM	#3 (permalink)
Andrew Successful Homeowner Join Date: Aug 2007 Posts: 696 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Countrywide - too many conflicting stories Send an email to all these email addresses. Make sure everyone sees the others emai addresses so they know you are serious. pressroom@countrywide.com, david_bigelow@countrywide.com, angelo_mozilo@countrywide.com, chris_oltmann@countrywide.com, vice_president@whitehouse.gov, OCIP@do.treas.gov, customer_service@countrywide.com, service@naca.com __________________ Andrew P.

03-11-2008, 01:00 PM	#4 (permalink)
mcmobley Member Join Date: Mar 2008 Posts: 8 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Countrywide - too many conflicting stories Thanks so much for your advice - I will start sending letters! much appreciated

03-11-2008, 04:49 PM	#5 (permalink)
Mary Salzer Guest Posts: n/a	Re: Countrywide - too many conflicting stories Not just letters, but also call, call, call and fax, fax, fax and e-mail, e-mail, e-mail....you have to get their attention in every way possible.....squeaky wheel gets the grease.... Also send the QWR request...but the other has to be done daily, no joke this is a second job.

06-22-2008, 10:00 AM	#6 (permalink)
mcmobley Member Join Date: Mar 2008 Posts: 8 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Success!!! Thanks to this forum and constant diligence with calls to the modification department Countrywide has finally modified my loan. Though not a "perfect" situation, I feel it is a fair one. They modified the interest rate to 3.75 for two years, then 5.25 for the next 3, giving the market (hopefully) enough time to recoup so I can either refinance or sell it. My payment are almost a third of what they were before as we begin the modification, plus they are PI, rather than just interest. Thanks so much for your help!!!!

06-22-2008, 10:09 AM	#7 (permalink)
nitag Senior Member Join Date: Jan 2008 Location: Stagecoach, NV Posts: 632 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Success!!! Congratulations!!!!!! nitag __________________________ Avelo Mortgage modified my loan!

06-22-2008, 10:14 AM	#8 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Success!!! mcmobley, Congratulations on the mod!! Have you sent the docs back already? __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

06-22-2008, 10:20 AM	#9 (permalink)
mcmobley Member Join Date: Mar 2008 Posts: 8 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Success!!! Yep, docs signed and sent back and now first payment made!

06-22-2008, 11:15 AM	#10 (permalink)
RudyJay Senior Member Join Date: Apr 2008 Posts: 652 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Success!!! So glad for you... congratulations rj

06-22-2008, 11:35 AM	#11 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Success!!! with Countrywide Congratulations to you and your family! Wow, 3.75% That just shows us, that they are willing to go very low on the rate to keep people in their homes. Great job and best of luck to you! __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

06-22-2008, 11:39 PM	#12 (permalink)
Irish Gal Senior Member Join Date: Mar 2008 Posts: 642 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Success!!! with Countrywide Congrats Mcmobley! Who is the investor on your Countrywide loan ? Who was your assigned negotiator ? Thanks - Irish Gal

06-23-2008, 05:53 AM	#13 (permalink)
schwefls New Member Guide & Litton Success Join Date: Jan 2008 Location: New Jersey Posts: 1,090 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Success!!! mcmobly: So happy for you, party hardy, you deserve it. __________________ Lynn Successful thanks to this forum Loan Safe Guide

06-23-2008, 07:37 PM	#14 (permalink)
mcmobley Member Join Date: Mar 2008 Posts: 8 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Success!!! with Countrywide Hi Irish gal, Looking over my modification - my lender is Countrywide home Servicing LP. I see no reference to the negotiator for this, since it changed again right before this modification went through. I really thought that would set me back again, but clearly it didn't.

06-23-2008, 08:42 PM	#15 (permalink)
elpjohnson Successful Homeowner / Loan Safe Guide Join Date: Dec 2007 Location: Gold Country, Northern California Posts: 1,025 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Success!!! with Countrywide Congratulations on your mod....awesome! __________________ Erika 10 Month Success Story With Option One.

06-23-2008, 08:48 PM	#16 (permalink)
Abbykatesmom Senior Member Join Date: May 2008 Posts: 75 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Success!!! with Countrywide MCMobley, Congrats to you! I am so happy for you. It is a great feeling isn't it. Enjoy and rest easy.

07-12-2008, 05:22 PM	#17 (permalink)
mcmobley Member Join Date: Mar 2008 Posts: 8 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Success!!! with Countrywide--COUNTRYWIDE LIED!!!!! I signed modification docs as previously stated. Called several times since May to confirm all was well with my mortgage and told the modification went through. I received a statement a statement today and noticed they had tacked close to $12,000.00 on to my loan amount and I was still paying NEGATIVE AMORTIZATION. I called thinking that surely there was some mistake and was told that in JUNE 2008, 1 month after I signed modification papers, Lisa Keller (the workout coordinator- finally was given her name today) DENIED the modification because the "investor wouldn't agree". Can they do this???

07-12-2008, 05:48 PM	#18 (permalink)
elpjohnson Successful Homeowner / Loan Safe Guide Join Date: Dec 2007 Location: Gold Country, Northern California Posts: 1,025 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Success!!! with Countrywide What???? That is ridiculous!!!! How can they get away with that? Don't they have to honor the contract that was signed or do they just have to honor the original loan documents? I am so sorry that you are going through this. It's crap like this that really pi$$e$ me off about these lenders! I just don't know how they can get away with something like this, it's just outrageous! __________________ Erika 10 Month Success Story With Option One.

07-12-2008, 06:31 PM	#19 (permalink)
frazzledma25 Senior Member Join Date: Jun 2008 Location: new hampshire Posts: 49 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Success!!! with Countrywide THEY LIED! This is crazy!!......time to get a really good lawyer....don't give up!!

07-14-2008, 08:13 PM	#20 (permalink)
frazzledma25 Senior Member Join Date: Jun 2008 Location: new hampshire Posts: 49 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Success!!! with Countrywide hey mcmobley....did you find anything out today?? keep us posted

07-18-2008, 12:08 PM	#21 (permalink)
RudyJay Senior Member Join Date: Apr 2008 Posts: 652 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Success!!! with Countrywide Hey..have you found out anything today? This happened to someone else in the forum..rj

07-18-2008, 12:23 PM	#22 (permalink)
Andrew Successful Homeowner Join Date: Aug 2007 Posts: 696 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Success!!! with Countrywide mcmobley, Send me and email regarding this, There is one other person on the forum that the same thing happened too. If you give the lawoffice above a call, it will be handled for you Pro Bono. __________________ Andrew P.

07-28-2008, 12:40 AM	#23 (permalink)
busymomof3 Member Join Date: Jul 2008 Posts: 8 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Success!!! with Countrywide OMG this happened to us as well in Dec. 2006 we were given a loan modification and made the payments then I called in July of 2007 and told them that we were late with June and July but it would be paid shortly and was told only at that time that we were DENIED on our modification because the investor would not allow it. We had the $12,000 in "fees" added and when I asked what that was I was told it was the fees that Wells Fargo charged them for pulling us out of foreclosure in Dec. 2006. I was told at that time that we had to get on a repayment plan and we would keep our home so I agreed to it all I didn't know I could fight it. Since then they have redone our payment plan twice (so 3 times total)because the payments are so high (well for us) that when emergencies come up we have to pay out of pocket (we have zero credit cards and our credit is awful). I just sent in paperwork to see if we can get our property taxes lowered and that will help. We also have a VA loan. The more I read the more I believe that Countrywide got over on us too by adding "fees." I no longer have the modification paperwork it got left at the job I got laid off from and was distraught from that and left alot of personal things and the jerk that let me go threw it all away. I do have a letter that states "As of July 1, 2007 we want to inform you that your loan modification has been denied" because we were NEVER notified prior to me calling in. They also added in all the late fees that Loretta Pillado took off to help us out. Is there anything we can do? Is it to late since it is from 2006/2007? Sorry wasn't sure if I should have started my own thread.

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