Countrywide Modification SUCCESS!!

[Rhonda]

Here is our Countrywide "Nightmare"....After reading many stories on this sight, I shouldn't be surprised at the turn our situation has taken. HELP from ANYONE at Countrywide is nothing but a joke. In late 2006 we experienced financial situations in our home that led us to fall behind in our mortgage. Eventually we were able to obtain a "Special Forebearnce" (and special it was!) from the workout deptartment. Beginning in June 2007 we paid a lump sum and paid a regular mortgage payment for three months. When we were to start paying the extra payment with our regular mortgage payment, we knew that the extra $957 a month was way too much and we could not afford it. Now let me back up and mention that we had to give all our financial info over the phone to some lady in a call center in Texas. Under pressure and stress I attempted to give information to her that was off the top off my head. We were basically informed we had to give it right then and there or else we would not be considered for anything. Everyone knows that giving a precise budget in just a couple of minutes is impossible. On top of that she did not input the information correctly, so you guessed it, we showed quite a surplus, which of course did not exist. This lead to a total mortgage payment of nearly $2900 per month! After the realization that this would not work, we attempted once again to make contact with Countrywide and work out a better arrangement. Here is the really fun part......This process started last November (2007)! We were told it would take 30-60 days to get assigned to a workout negotiator, we would hear something in late December. One person called in December, we missed her and the number she left was no good. We attemted to try and get a hold of this person or anyone who could give us any information and all we ever got was someone in the call center who knew nothing. This went on through January and February. We were finally told that a man named Geraldo Maldanado was working our case. We received a letter via overnight FEDEX, stating that Countrywide has been attempting to contact us and can't reach us, even though I had given our home number and both cell numbers and my husband's work number AND the best time to reach us at all of those numbers to different call center reps. I responded back via fax the next day with all the info again and with letter of my own stating the run around we have had in trying to get to someone we can work with. I have literally spent hours on the phone trying to get to someone who knows what is going on. One day I spoke to call center reps, Sandra, Andy, James and Suzanna. They had no clue. We were also told once by a rep that the person we were trying to get in touch with (her name was Sandra) might be off that day, maybe out to lunch or they weren't sure if she worked there anymore!!! Finally I get a guy on the phone who tells me that a loan modification is in the works and actually gives me numbers and figures that I need, Yeah!! But hold on, Mr. Malanado will be contacting me. But see what happens is, I send my letter with the info and he gets mad that I state the truth about the RUN AROUND at Countrywide....he attempts to call three times, in one day, twice at our house and once at my husbands employment over the weekend. We weren't home and my husband doesn't work weekends, so that ended our relationship with him and he decided he wasn't going to help us because he doesn't have time to keep calling us. Bear in mind we weren't given the opportunity to call him back because the numbers into the workout department can only be reached in house! My husband reaches a lady named Sophia Doke who is also in workout and she gets down right nasty with him and how we can't be reached. I wonder if all those months prior, when we tried calling them were even logged, it's more like we can't reach Countrywide. This all occurred in February. So once again we resubmit financials and call every couple of days to check that status of our account, it's always listed as NORMAL. Once again we are waiting, in March we receive a letter that we are up for foreclosure review.....we are still waiting.......April rolls around and after many hours of research we come to the conclusion we are never going to get anywhere with Countrywide and in the mean time our account is going further and further behind. We finally sought the help of housing couselors for our county. We found them through the HOPE hotline. After a meeting and once again submitting a harship letter, a correct budget and current financials (we had just sent this info to Countrywide in March) we were told by the couselor that they would help us no matter what way it goes. She said she thought we had a pretty good shot at staying in our home. She said she had a phone number directly to Countrywide that the regular public could not use and that it was better for us to use the housing couselors to help because they had "working" relationships with lenders and that lenders liked the fact that we were serious enough to contact counselors to help us, so we must be serious about keeping our house! Um, yeah, I've been serious for many months but I guess that doesn't count!! Well the couselor makes one call to Countrywide on April 8th. She then calls to tell us that we will hear something from Countrywide by the end of April by mail. It could go either way, so we were prepared that it might not work out but we are giving it a shot. We take collection calls from Countrywide during the month of April and explain to each different rep that we are working with the County Housing Authority and that the counselor is working with someone within Countrywide. May rolls around and still nothing. Finally we call the couselor to say we haven't heard anything, she calls THE SPECIAL TOP SECRET NUMBER and finds out we are at A STAND STILL!!!!!!! Yep, it happened AGAIN! Countrywide is waiting on updated financials and our housing couselor had not sent them ANYTHING for an entire month!! The counselor acts like I should have known this, even though no one told us anything. I'm still waiting on that piece of mail from Countrywide that hadn't come in April. So I run a new hardship letter and updated financials to the Housing Authority on Friday May 16th, I drop these off without getting a chance to speak to someone. As luck would have it and with all the delays we have encountered and the very thing I was trying desperatly to avoid has happened.....I opened the mail box yesterday to find the retainer letter from a lawyers office that states they will begin the foreclosure process! Not only did Countrywide drop the ball, so did the very people who you are told to contact throught the HOPE line, HUD tells you to contact them and so does FHA, your local housing authority. I am highly upset and unsure who to trust or even what to do at this point. The letter from the attorney states a figure much higher than what is listed on my monthly statement. I can't believe there is no recourse for homeowners who experience this treatment. I just found this site five days ago through friend who is also going through issues with Countrywide, I wished it I had found it sooner. Has anyone gone into foreclosure and been able to save their house without paying the full amount past due? This has gone on for so long that I owe 16 mortgage payments!!! It's completly ludicrous! If I treated someone this way I would lose my job!! As far as housing couselors, has anyone had any luck??? I was told they receive a grant for every person who goes to them for help, it's around $350. Maybe there in it for the money too. It makes me sick that I have always worked and paid taxes and people can go on section 8 housing for years but I can't get any help!!!! I feel like there is no real hope or help for that matter. The stress it has caused has been horrible for our household. I could add so much more but this is so long already. It's just the tip of the iceberg for our dealings with Countrywide. I can't even give much advice because my situation has not been worked out and everything I was told to do has not resolved this at all, it's only gotten worse. One thing I can say, make sure you keep very, very detailed notes about everyone you talk to and about everything you discuss. Keep copies of all e-mails and all written materials you receive. Dates, times, names ect. Thanks for letting me blow off some steam!!! Any advice would be greatly appreciated!!

[sheree]

One of the resident smart people will pick up the thread probably tomorrow. I'm new here too, but my story is similar, but I've barely avoided foreclosure as my house was due to go to auction on Thursday May 22nd. It appears to be postponed till the 20th of June. I'm still shaking, and fear it was only a dream and I need to do something. The very anxiousness of the past couple weeks when I first got the Trustee Notice off my front screen (Countrywide work-out dept said that this would not progress to that scenario). That's when I got plenty scared. I was passed through a couple of negotiators also, (never, ever getting to speak to either one!) they had a big reorganization in the last few months. Also got the overnight fedex stating they couldn't reach us. I've been very very nice when calling in, but have called consistently. I was assured that while our file was in review we would not be foreclosed on. With the greatest knots in my stomach, I finally have some assurance we will not slip through the cracks and be foreclosed on, and was offered a new package for the arrears amt to be caught up through the Home Savers Advance program by Fannie Mae. I'm feeling somewhat better, but very apprehensive still - I hope your situation can also have a great conclusion. I'll keep you in my prayers!

[Rhonda]

Thanks for the reply....I hope it all works out for you to. I will ask the housing counselor about the program through Fannie May, I figure at this point it can't hurt!!

Thanks!!

[Moe Bedard]

Hi Rhonda,

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

I am so sorry for the run around that you have been receiving from CW..........

It sounds like you have not been in the proper department........so to have a chance at a possible modification we would need to get you to the right department........I know that you are extremely frustrated with CW at this point but if you follow this advice it will get you into the highest department and on track for a modification........
In order to receive a modification approval your household income versus your household expense would have to show a surplus of at least $100-$250 at the end of the month.........

Also keep in mind that CW might require a portion of the past due amount as a good faith payment up front for a modification.......

If you can show this...............what you would need to do at this point is to put your hardship letter and an explanation of the run around you have been given all of these months into the body of an email (just try to keep it short so they can read it)
and send it to each of the email addresses below........you will receive a response within 48 hours..................

Hope this helps you out..............

Please keep us updated on your progress......

[Rhonda]

We received info from our County Housing Authority counselor today that the offer from Counrtywide is....$9000.00 down payment and $6300.00 house payment for the next six months to catch up!!!!!!!! Or we can begin a pre-foreclosure sale. I waited 8 months to get to this. Because of their procrastination, we are so far behind that it is impossible to resolve. We couldn't stay on the special forebeance plan to begin with, because it was too high (added $1000.00 per month to our payment) they made us do everything in a hurry over the phone which messed it all up to begin with. This began in November, now it's May and this is their idea of a plan. Because we could not keep the original plan our crediabilty is shot with them. Now I don't know if there is anything we can do, short of coming up with the entire past due balance(impossible). No other terms were offered. Any advice would be appreciated. For the record, there are many houses for sale in our neighberhood.....probably won't sell anytime soon and of course that is the last thing we want to do.

Rhonda

[Moe Bedard]

Rhonda,

Did you follow the advice I posted for you above?

[Rhonda]

No, not yet. We had two family emergencies the last two weeks and I have had my hands full dealing with that. Also, our housing counselor acted like a workout was in progress. My other question is: aren't housing counselors suppossed to be a "great big help"?? The HOPE line directed us to them and we were told that was our only option. I even called HUD and they told me to use the counselor. My husband is back from a trip out of town and I wanted to have him help me send an e-mail to CW, should we still do this?? I want to do as much as possible but I work and have kids so sometimes I am just super busy!! We do call at least once a week and we are blown off everytime. Are there any repercussions to CW for treating people this way?? I feel that they just want us out of the house......

[Moe Bedard]

A few questions that I had not asked, but since you just mentioned that you are in contact with HUD I would like to..........

Is your loan an FHA loan?
What is the interest rate at?
Is it fixed?
How many months past due are you?

[Rhonda]

I only called HUD once to see if there was ANY advice, they told me to go through the housing counselor. Our counselor mentioned filing a complaint with HUD against CW because of all this run around and now they haven't mentioned it at all. Our loan is through Ginny Mae and the loan is FHA. The interest rate moved up in January from 4.87% (very good) to 5.5% (still really good) and we can afford the payment just fine. It will adjust again next January. We are 16 payments behind, we made payments last fall but due to the large increase with the special forbearance, (starting in November 2007) we fell behind. So we have made payments but it's a total of 16 we owe. They kept asking if we could pay 30% of the past due and then put the rest in a loan modification. So we figured we would need $9000-$10000 to put down. Our budget show a surplus of $275.00 which we figured would go into the slightly larger payment. I have also picked up a part time job to supplement our income. One more thing to add is that there seems to be no programs for Ginnie Mae backed loans. I tried the Home Savers with Fannie Mae but found out we do not qualify. But it could be good for Fannie Mae customers.

[Moe Bedard]

Rhonda,

The Fannie Mae Home Saver program is similar to one that has been already available to all FHA loans...........Fannie Mae loans are conventional loans.......so they would not be eligible for this program..........

You had indicated that for now you can pay the payments moving forward but the past due amount is a large amount to come up with.......

Have you asked HUD about doing a Partial Claim........they can only go up to 12 months past due and you would have to pay the remaining 4 months.....but maybe that will be a bit easier than 30%.............if you have not known about this or would like to know about it........here are the particulars............

Partial Claim (for FHA Loans only)

If you have an FHA Loan, we will be able to start discussions with your lender for a Partial Claim. This strategy is only available on FHA loans. Working together with The Department of Housing and Urban Development (HUD), your lender will agree to help you with a one-time payment from the FHA Insurance Fund. You may qualify if your loan is:

1. At least 4 months but no more than 12 months delinquent
2. You are able to begin making full mortgage payments
3. You have resolved the hardship that caused you to fall behind
4. You may or may not be in Foreclosure
5. The mortgagor has the long-term financial stability
to support the mortgage debt or make the payment
5. The home owner does not have the ability to repay the past due amount through a special forbearance or modification
6. The property is your primary residence
7. If you have filed for Bankruptcy you may still qualify for a partial claim, the Bankruptcy Court must give approval

You will be required to sign a promissory note with HUD and they will place a lien on your property. This HUD loan is interest-free and will bring your account up to date immediately, but it is due when you pay off the loan or when you sell or leave the property.

Here are the terms for the Partial Claim:

1. The note will be interest free.
2. You will not be reuired to make monthly or periodic payments
3. The note will be due when the Mortgage is paid off or when the home owner sells the property
4. There will be no repayment penalty
5. The Home Owner can apply for a refund in the mortgage insurance premium when the note is paid in full
6. The note is payable to HUD
7. You can make partial payments but they must be by cashiers check or certified funds

[Rhonda]

Hello all.... I am back with an update ......First we recieved a notice of foreclosure with a sale date of 10-01-08 on Friday from the public trustee. We have been working with a housing couselor in our county and on Thursday she called me and told me that the CW offer was a down payment of $9000.00 and six consecutive months of payments of $6421.00!!! In other words, we know you can't make this work, so, see ya! We e-mailed a hardship letter to all the people on the CW list and no one contacted us, I think in part because we were already headed down the foreclosure road. Our housing counselor faxed all of our documents and CW never recieved anything. Anyway, we were told to short sell our house. After speaking with a realtor today, I called CW for the short sale packet....after speaking with JoAnn in loss mitigation, I asked if there was any hope left of keeping the house ( we cannot pay the entire back balance as this has gone on for many months and we owe a lot) She said that if we could come up with approx. $11,000 that we could do a partial claim with HUD. My worry is that I am not sure I can trust them and our housing counselor no longer wants to help us. Has anyone had a workout after the foreclosure date was set?? We were also told we will probably have to pay attorney fees now. We have tried to work this out for many months and we keep getting shoved to the side. I am getting worried about who I can trust and what is the best road to take. We DO NOT want to give up our house to foreclosure and we do not want to sell, but it has been impossible to get ANYONE to work with us. I don't know if this lady that I spoke to today is really going to check into all of this or if we will be put on the back burner. She said we were referred back to workout. I also spoke with someone at FHA and they said they would try to expidite the process. My counselor says once we get this far gone that they (CW) will not work anything out. Ihave a different story depending on who I talk to. We have explored all the new options that are being offered but so far nothing works for us. Any thoughts or advice would be greatly appreciated. Everyone tells us that they do not want our house but I am beginning to think that this is untrue, why wouldn't they work with someone who absolutley wants to work this out??

[Moe Bedard]

If your loan is an FHA.........just stay on top of the FHA contact to see if you can do the Partial Claim..........

[Rhonda]

Hello! It has been awhile since I last had time to log on. I wanted to share our success story for Countrywide Home Loans customers. The advice given on this site helped us get a loan modification. We were sent a list of Countrywide Home Loans reps. by *** to e-mail with our hardship/run around scenario letter. IT WORKED!!! After 9 months of run around, which led to foreclosure proceedings, we were able to resolve the entire mess in one month. We recieved many calls from California (this is where the office of the president of CW is) from some very nice reps in the Customer Care Division. A name I would like to mention is Sheena Arloro. She was very nice, she knew what she was talking about and actually kept in close contact with us. For the first time, we received phone calls, WITH phone numbers that actually went to the person calling (no call centers here) and they answered their phones and left detailed messages on our cell phones and home phones! Amazing! We recieved a loan modification with a fixed rate of 6%! We put down a small amount and are set to make our new payment in August. The e-mails from *** that we sent are what got us on track to fix this mess! We worked with two housing couselors in our state and it seemed that we were going to be foreclosed on,even with help from the HOPE line and our counselors. I suggest to everyone dealing with CW to e-mail ASAP to the list provided on this sight. We received phone calls within one week of doing this and were put on the fast track to a resolution. I also put in phone calls to HUD and FHA concerning the treatment we recieved from CW prior to the e-mails. I want to say thanks to ***!!!! The advice given here is extremely helpful and one of our couselors even said that we probably saved our home because of that advice!! Keep track of all phone and mail contacts with CW. Call them as much as you have time too and keep all you paperwork up to date as this is something I had to continually send them. Good luck to everyone and if I can be of any help send me a note! Thanks also to my good friend R.J., if she hadn't happened upon this sight, I would be packing boxes right now!

Thank you soooo much Loan Safe!
Rhonda

[Moe Bedard]

Rhonda,


This is Awesome!!!!!

Congratulations!!

I am so happy that it worked out for you!!!

[nitag]

congratulations.. That Is Great News!!!

And *** Really Does Rock... She Has Helped So Many....

Nitag

[ergoof123]

Congratulations!!! Do The '***'...it Works!!! I Am So Glad For You!!!