Doug
Sauk Village,#2Author of original report
Sat, March 07, 2009
Just to clear some "confusion", I never signed with Countrywide. I didnt even know they bought my loan until I received something in the mail from Countrywide with address to start sending payments. Countrywide should be held accountable for whatever loans they buy whether it be one loan or a hundred loans. Yes, it was my choice to sign with "original" mortgage company but they are the ones that said we qualified. How could I qualify for the original mortgage but not qualify for a loan modification with my fianicial status not changing? We are all human and at one point in time and have made mistakes in our checkbooks. Also let me clear up one thing. What I meant about finanical status is that I still had the same bills now as I did then. So I if I had more going out now than coming in now, means I had it then too. The original mortgage should have saw that and said that I did not qaulify. But they didnt and then Countrywide bought the loan. How could they have not saw that too. Yes it is my responsibility to make sure that I could afford it and it did cross my mind on it. But when that error happened it was all over. Countrywide does not make any attempts to try to help. When you call and they proceed, it takes them forever. Months at a time to contact you back as I stated in my letter. It has taken them 5 months just to call me within the last two weeks and now I received a letter from then about a Fannie Mae program. I called on it and of course I get " it's not guaranteed" that I would get help with my situation. Bottom line is that I and just screwed anyway I look at it. And whether you like it or not "Mr Confused", in my eyes Countrywide is to blame. Not for my mistake but for everything that has happened after that.
KC
Bellmore,#3Consumer Suggestion
Thu, March 05, 2009
You need a Modification LAWYER.I used EmpireRelief.com. They were honest and fast and saved my home. They found out I was a victim of Predatory lending (with Countrywide) and got my mortgage payment down 900 a month, and an interest rate of 4% !They arent free...but they are lawyers, NOT a lender or Financial 'advisor'. A woman named Karen helped me. The great thing was I was 9 months behind & IN foreclosure.They stopped the proceedings while they were negotiating the terms... which gave us a 3 months breather from paying the mortgage (it was tacked on the back of the loan) and helped me pay their fee,which was reasonable. Good Luck
Robert
Irvine,#4Consumer Comment
Thu, March 05, 2009
Why is Countrywide responsible for YOUR mistake? "Countrywide bought my loan before I even made my first payment." - When a lender "buys" a loan they buy a batch of loans, several hundred at a time not just one or two, so they rarely even look at the individual loans. A majority of people will have their loan sold to another bank within the first couple of months. "My financial status has not changed since then and I am still not able to get a loan modification." - No your financial situation DID change. By your own admission your "huge" error required you to borrow money in order to try and get caught up. "Since it hasn't changed since I bought the house leads me to believe that they knew that I could not make the payments but still bought the loan anyways." - So are you saying that they had a Crystal Ball that would know in 4 months you would have a "huge" checkbook error causing your problems? When you took out the loan in May 2007 it is YOUR responsibility to see if you can really afford the loan. They did not force you to sign the loan, this was YOUR choice.