Country Widepreditory loan

N Review updated:

we have a 30 yr fixed loan at 9.4% at $1505 per month, our income has dropped a lot due to work, we have tryed to work since oct 08 with country wide but they just say to put the mortgage at the top of our budget, juggle the utilities, and let everything else fall.we were on a 3 way call with HOPE & country wide, country wide said they would not help 'cause we were not behind. i don't know how much longer we can hold out without lower interest & payments. we paid 35k in 2 yrs in interest & 2k in princible.i have talked to BANK OF AMERICA but they said it is a COUNTRY WIDE loan so they can't help.i've talked to HOPE, HUD, LAWERS, THE WHITE HOUSE, DEPT OF CORPORATIONS, ATTORNEY GENERAL, TRADE COMMISION, HOUSING COUNSLER, VA, FHA.I just got a letter from BANK OF AMERICA so we will see if they will do anything, this is a response to my DEPT. OF CORP. letter.our loan is $158, 000 at 9.4% at $1505, we are approx $60, 000 upside down, the loan is now near 60% of our gross income and my work has cut us from full time to part time so a large piece of our income is gone. the attorneys we have talked to all say we are in a very preditory loan but they want between $1500 to $3500 to help us.HOPE has tryed to help but no luck at all. we are trying our best but keep hitting a road block.


  • A
      Feb 18, 2009
    Country Wide - Misfiled Paperwork
    St Louis
    United States

    I currently have a 30 yr. fixed loan with Countrywide. We purchased our home 1.5 years ago at 6.8% interest fixed FHA loan. Starting about 4 months ago we started receiving calls from their retention and collections dept wanting our monthy payment, mind you, we have never made a late payment with them nor do I ever intend to. They we would hassle me every month for my payment even though it was not late, which made us decide to do a streamline refinance with another company. During the process of the refinance, we found out that our FHA loan we thought we had does not exist. All of our paper work states that we applied for an FHA loan, we have an FHA case number on our closing paper work but in the end the FHA was never finalized with countrywide. We found out our paper work was not filed correctly with FHA and when the error was made known to Countrywide they never corrected it. We have been paying a monthy FHA insurance fee to countrywide even though we are not insured by FHA. On top of that, countrywide has sent me to every possible department and country to speak with representatives (who don't even speak english mind you) who can basically do nothing for me. I have spent several weeks trying to work this out and have gotten nowhere. What is most frustrating about the situation is that we are being denied the ability to take advantage of a lower interest rate and are forced to keep our loan with Countrywide because a clerical error by a company who just doesn't give a crap about its clients.

    Also, countrywide has taken it upon itself to make deals with people who have taken out loans they cannot afford and rewarding them incredible interest rates, while people who are doing the right things, responsible for their investments and making their payments are paying for it. I think it is bad business not to mention terrible ethics.

    What is there left for me to do ...Maybe we should all just stop making out mortage payments so we get treated with as much respect as the low lifes who don't take responsibility for their own actions.

    0 Votes
  • M
      Jul 06, 2009

    Country Wide now belongs to Bank of America so you may be dealing with them and they have no authority to deal with you.
    You might want to check into this so you can find the right person to work with you on this.

    0 Votes
  • G
      Jul 07, 2009

    All these complaints about mortgages are sad. I feel that many people who fell for these predatory lenders' offers, won't be able to do much bow, if they are still in the home. If you are in that situation, ask how to get help with the mortgage. There are programs for thos behind in payments or headed that way. As everyone, including your Congressman for HELP before losing your home. Do it NOW! Fight for your life!

    0 Votes
  • J
      Aug 30, 2009
    Country Wide - PMI, FHA
    United States

    I was shocked when I saw some had the same problem as I have with the workout dept. I tried to get anyone to help me, when I called FHA/HUD I was dumbfounded to find out my FHA paperwork that can only be filed by the lender had not been done after a year of telling them they had to fix my loan, I was not paying a dime until then. As you may have guessed Countrywide has filed the documents to foreclose on my home. When we responded we gave a brief on what had happened and that we were fighting this. We went to court, Countrywide on THE phone and I in court. As you know the plaintiff goes first. As countrywide gave the oh the home owner has not paid in 9 months. I showed the Judge my loan modification papers, the fact they were charging me P.M.I. The fact they after 16 months of knowing STILL had not filed my FHA paperwork with HUD. So I could not even get HUD help until they got the papers. The Judge was told I didn't want to loose my home, but the lender was IN VIOLATION OF HUD as well as Federal Regulations. He told the lender you have 2 weeks to call the home owner make arrangements and SUMMIT the papers. Well after 7 more months Countrywide made no effort to contact me. I informed the Judges Clerk once a month so they could document. The second time we were in court the judge who gave them a order, was not in. But he informed the Judge filling in HE wanted NOTHING done to this file. Tell Countrywide to Re-file. Well its the end of August 2017, I have court again in 3 weeks. I bought my home in Sept 2017. I stopped making my payments April 2017. While all this has destroyed my credit, stressed my household out. I know when a Judge and the bail-off remember my case after 7 months. To know Countrywide is in contempt already from the first hearing. I am pretty calm about my case. It has been hell, I have looked up books to see about infilled FHA paperwork, called everyone you have and I GOT NOTHING as well. I had to put my LOAN in order of proof of PMI, My court docs and loan docs showing I have a FHA account number, but I was smart I got the bank to admit before anything I was IN THE workout dept 30 days after we moved in our home. Trying to get the FHA resolved and lower our monthly payment. Then as they complained on the phone. I was sliding proof to the Judge proofing they were lieing.How can Countrywide NOT file my FHA paperwork STILL TO this day. The end of August 2017. I mean this is unreal. We live in a house, to afraid to make it our home because of what has happened. If anyone has any ideas or can help me Please let me know.

    0 Votes

Post your comment