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1 CA, United States Review updated:

We wanted to let everyone know that mortgage lenders are still deceiving the American people and the American government regarding loan modifications. We hear in the news everyday how the U.S. housing market is "bottoming out" or "finally stabilizing" or "sales are picking up". But the reality is that it is not. Not for homeowners whose lenders are corrupt, that is.

Please do not misunderstand. There are lenders who are doing their best to help homeowners and we are pleased they are now generally making a effort to work with homeowners and keep them in their homes. We applaud those lenders/banks. However, we wanted to bring to your attention a particular lender - Countrywide Financial (now operating as Bank Of America Home Loans).

We are sure you see comments all over the internet on how this lender is blatantly employing forestalling tactics to deceive the media, government, and the American public. In our opinion, this lender has absolutely no intention of complying with President Obama's American Recovery and Reinvestment Act of 2009 and has no intention of keeping homeowners in their homes. Countrywide Financial's website says they have a "commitment to supporting the Making Home Affordable program" but that is a lie. We have filed numerous complaints regarding Countrywide Financial for their refusal to grant us a loan modification on our home even though we meet the criteria.

The Superior Court of the State of California for the County of Los Angeles Northwest District issued a court order for Countrywide Financial to provide loan modifications (Case No. LC083076, California Attorney General and The People vs. Countrywide Financial). Though we were not part of this particular lawsuit, our situation still meets the criteria described in the settlement. Also, included in the settlement was for Countrywide Financial to furnish to the California Attorney General a list of account numbers of those loans which have been modified. I doubt, to this day, they have sent any tangible information to the attorney general.

Here's the deal:

1) Countrywide is NOT MODIFYING loans despite what they tell the government, the media and the American people.

2) Countrywide is violating court orders and is in contempt of court.

3) Countrywide received TARP funds and yet they openly refuse to abide by the mandatory Obama loan modification guidelines.

Bottomline: Countrywide Financial is STEALING our taxpayer bailout monies!

For those who are experiencing loan modification issues similar to our situation, please seek advice from an attorney AND DO NOT BE AFRAID TO LET GOVERNMENT OFFICIALS KNOW ABOUT YOUR LENDER REFUSING TO GRANT YOUR MODIFICATION (if you qualify for it). Write to your Congressman or Congresswoman, write Housing and Urban Development, your state's attorney general, your state's housing departments, your state's consumer affairs, your governor, the Better Business Bureau, the Federal Trade Commission, the Department of Real Estate, even write to the President of the United States, the Vice President of the United States, the Office of Public Liaison, write...write..write...or fax...fax...fax...or You need to let our government know what's happening at the consumer level. Not sure where to begin? go to

Thank you...and good luck!

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  • Ja
      17th of May, 2009
    0 Votes

    I have hired an attorney and have had her since February working in my morgage. There is so very much you need to do to even quilify for a modification. This is a long process and you need a lot of patience to go with it.Since then Countrywide is now Bank of America and I do believe this is not any better as Bank of America has faults and complaints on them also.I hope my morgage resolves soon . I did receive a letter from Countrywide telling me that I only have till June 7th to catch up with my morgage or they will start foreclosure on my home. My attorney is aware of this and telles me not to worry as I won't loose my home. I am trying so hard to believe this but lets face it this is very sceary!!! I was not behind when we walked into her office to being almost 6 months behind. Like I said this has been a long journey and it's not done as of yet!!!As I read these complaints from people telling us that they needed to be in foreclosure in order to quilify for modification I am learnig that maybe this is why my attorney let this go this long. If anyone else reads this please let me know if you are going thru the same thing as I am or have already gone thru this and let me know what has happened to you. Thanks

  • Ja
      17th of May, 2009
    0 Votes

    My above complaint is that Country Wide has never helped me in trying to modify they just allowed me to pay my regular monthly payment of 2350.00 and add an additional amount to totaling 3250.00 per month for the next three months. That was crazy!! If I can't pay the 2350 why would I afford 3250? They are now threathing me to foreclose and calling me every day and all hours including Sundays. Now Bank of America is doing the same. My attorney is taking care of this and they keep oin telling me that there is no modification in place.I don't know what to do!!! A lawyer is the best at least I hope so.

  • An
      13th of Jun, 2009
    0 Votes

    Thank you. You have inspired me to act after a sequence of stalling and lies from COUNTRYWIDE. It is time the conusmer stood up against blatant corruption on the part of this lender. Our entire economic future is dependent on us eliminating this sort of practice from our nation.

  • Cw
      16th of Jun, 2009
    0 Votes

    We are glad that our post is inspiring people to STAND UP AND FIGHT TO KEEP YOUR HOMES. IT'S YOUR HOME...YOUR SWEAT...YOUR BLOOD...YOUR TEARS... in that home. YOUR HOME IS PART OF YOUR FAMILY...IT SHELTERS YOU AND YOUR FAMILY...IT HOLDS TREASURED MEMORIES. FIGHT FOR IT! No one will bail us out but ourselves. We've posted something similar in Facebook and have posted updates in Twitter As always, there are vermin out there trying to take advantage of us homeowners. Be careful of companies promising to negotiate a loan modification on your behalf. Before you hire them, do a research in the Better Business Bureau of your state/city. We hired an attorney to represent us. An attorney who is licensed and bonded to practice in the state of California (since our home is in California). We did not believe in going through a loan modification company.

    JAN: We saw your post. Yes, that's the LATEST AND GREATEST DECEPTION Countrywide/BofA Home Loans is pulling on everyone. Countrywide/BofA Home Loans is telling everyone -- the Attorney General, the media, the government -- that they "are doing loan modifications" but they have MISTITLED a Forebearance for a loan modification. What is a Forebearance? An agreement made between a mortgage lender and delinquent borrower in which the lender agrees not to exercise its legal right to foreclose on a mortgage and the borrower agrees to a mortgage plan that will, over a certain time period, bring the borrower current on his or her payments. A forbearance agreement is not a long-term solution for delinquent borrowers; it is designed for borrowers who have temporary financial problems caused by unforeseen problems such as temporary unemployment or health problems. What is a loan modification? Under President Obama's law (in a nutshell) it should 1) Be a lower monthly payment 2) Have a lower interest rate 3) Have a lower principle.

    Countrywide will not release the raw "100, 000" loan modification agreements to the CA Attorney General because they are not at all loan mods and are not compliant with the LA Superior Court Nov 23 court order nor compliant with Countrywide's April 17 contract with the Dept of Treasury-Fannie Mae's whereby Countrywide agreed to modify notes at 31% as specified in the HASP-MHA guidelines. Ha! More delay tactics and deception!

    It's absolutely ridiculous...WE BAILED OUT THESE BANKS/LENDERS WITH OUR TAXPAYER MONEY AND NOW THEY WON'T DELIVER ON THEIR PROMISE TO THE TAXPAYER...the very people who bailed them out! How much more THEFT of our HARD EARNED DOLLARS must the American homeowner take! We can not remain complacent and passive anymore.

    We believe President Obama and his Administration is listening to the American people. But they are a busy lot over there in the White House. So, we believe the American people can help them over there in the White House by letting them know about your Lender issues. Continue writing your government officials. We're received responses to our letters. Their tips are posted on our blog


  • Al
      3rd of Nov, 2009
    0 Votes

    Yep I just wrote our president and my list is getting longer...

    I was denied a modification on Aug 31 but didn't find out till today Nov 3 by them slipping up.

    I waited 3 months for this and i was denied and they didn't even send out a F you letter...

    I am not happy and over it...

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