Explore your opportunities! Create an account or Sign In
The most trusted and popular consumer complaints website

countrywide home retention / loan modification

67% 3
Contact information:
Phone: 219-229-1421
I have tried several times to get refinanced out of this ARM that I currently have through Countrywide Home Loans. Due to circumstances out of my control, I had to let most bills go to pay my monthly payment at 10.375% interest. I sent the needed documents in January 09 to see if I qualified for a loan modification. I finally received a proposal on February 19 that they would lower my rate to 10.375%...the same as I am paying (or cannot pay) now. The paperwork states that this is the rate at the origination of the loan. That was incorrect (the original rate was 8.310%). I called immediately and after being transferred and told to call other numbers, I found someone that agreed there was incorrect info on the document. They were going to email supervisor re this. I called again on 2/21 and was told that they could see in notes that the paperwork should reflect 8.310% interest and they were going to email supervisor. I called again on 2/25 and was told that on 2/24 the notes state that I do not qualify for loan modification, but that person could see discrepancies in the notes on my acct and forwarded me to someone else who then stated that he would have his "team leader" call me. Just before the end of the business day on 2/25 (I had not heard from "team leader"), I called back. I was told by new person that notes state I do not qualify for loan modification. I told her that I already had qualified and received paperwork that states so, but that it was incorrect on interest rate. She transferred me to someone else and after being on hold for quite some time, they are investigating. I need help...since it doesn't seem like they are being honest or maybe they do not know what they are doing. Can they do this?


Sort by: UpDate | Rating
N  8th of Apr, 2009 by 
Agree Disagree 0 Votes
You need to get in touch with your local hud counsling office for they have the experience in handling this problem. they do not charge a fee. I do not know what I would have done with out there help.
A  8th of Apr, 2009 by 
Agree Disagree 0 Votes
Good Luck!
A  8th of Apr, 2009 by 
Agree Disagree 0 Votes
Countrywide is notorious for fraudulent transactions and giving misleading information over the phone...I lost my home to foreclosure after over 25 phone calls and them telling me they were putting a loan modification offer in the mail, but instead they sent final foreclosure papers...find a HUD counseling office in your area RIGHT AWAY and talk to them OR go to this website:

N  21st of Apr, 2009 by 
Agree Disagree 0 Votes
We got behind on our payments with countrywide went for a loan modification waited and called many times .We were told the couldn't talk with us because we were in modification and we would receive something FED.While we were waiting 3 mo. we got futher behind .When we received the modificatins, modification meaning less our payments went up $300.00. If we could afford the payment of $800.00 before how can we afford more.I didnot sign, so countrywide said they would do another modification in the mean time we got forecloser papers . More calls with idiots who don;t know what their doing but did stop forecloser for the time, we started this in Jan.2008 first modification received inAug2008 went into second modification right away in Sept.2008, received second FED in Jan.2009, samething.Payments went up again, I called and was told if we did not sign this time that forecloser would take up where it left off, that would mean we 'd have to be out of our of our home in 60 days, she even laughed and said this payment with all the nessessarys is more then you make a mo.But if you don;t sign this time we will go on with forecloser. I signed the payment was due April 1st can;t make the payment.What can we do we have lived in this house for 25yrs.Trouble started 7 yrs ago we went for custody of our grandchildren then 5, 9@16.Legal fees cost thousands so we had to refinance twice fast for money to pay atty, fees.credit went to hell.Then i had chemo for colon cancer and thousands, now the kids are at least safe, still have two at home 12@16, and now with everything ealse they had to go through were about to lose their home we are in our 60's and no place to turn.If anyone has come kind of answer to help we would be so greatful. God bless you.
Donna Loveall
A  21st of Apr, 2009 by 
Agree Disagree 0 Votes
Countrywide how can you do this to pepole who try to do whats right and take it away.If only you would have dropped our int.rate from 10.12% to something we could afford you would get your house payments on time and maybe we could repair our lifes.This is not right and countrywide knows it.This house isn't worth anything to you, it won't make you any money only make the neighborhood with nice young people trying to make it.It would be a shame for someone to buy and let run down to rent.It does need a lot of work we have put off because of all of this.I want to keep our house.Please please help.
A  13th of May, 2009 by 
Agree Disagree 0 Votes
Contact your local HUD-with the new Obama Plan 31% of your gross income is what they are suppose to get your house payment down to. I received my modification interest is 5.25% but the payment is stil 50% of my income because the are adding the property tax and homeowners onto the amount-it's suppose to be figure into the 30% not in addition to the 31% CONTACT HUD OR BETTER YET FILE BAKNRUPTCY.

Post your Comment


Reply to