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Countrywide Mortgage / We could lose $22,000 due to Countrywide's unethical business practices

1 Tampa, FL, United States
Contact information:
Phone: 813-915-4809

My fiance and I applied and were "approved" for a mortgage. It was only asking very specifically several times if we were approved did we finally agree to put forth upfront costs on new home construction upgrades of $22, 000. Against our better judgment we had to utilize Countrywide in order to get the closing costs paid by KB Homes. They instructed us to go ahead and rent our his home while we were in the process. We did so. My fiance has moved in to my apartment where the lease ends in one month. Our closing date is scheduled for November 20th of 2008 (10 days from now). We were just notified by Countrywide 2 days ago that they cannot accept my fiance's off-duty pay, which is additional pay he receives as a sheriff's deputy in addition to his salary, which accounts for approximately $1000/mth. They JUST informed us of this even though they approved us months ago with certainty that we were "set and ready to go". In addition, they informed us that his rental property that is currently rented at $1100/mth has decreased in value within the last two months that they now they cannot approve our loan as they cannot accept any of the rental payment we are receiving. We are at risk of losing our $22, 000 if we are not able to get a mortgage for this home. Again, we close in 10 days and don't know what to do. What's so frustrating about this is that getting our representative at Countrywide to even return calls during the 4month process was nearly impossible. Even our KB representative was frustrated. We've been screwed out of $20, 000 and we have no home! WE CAN'T UNDERSTAND HOW THEY ARE ABLE TO DO THIS TO PEOPLE.


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