Countrywide4 months & no to refinancing!

S
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a verified customer
Verified customer

After putting 20% down on my home I got a adjusted mortgage & a prepenalty. I couldn't refinance until May 07. I now find out that shouldn't have happened, because I put a lot of money down. I started my refinance process in May with CountryWide. They kept my refinance going for 4 months and ran my credit down almost 100% and decide they couldn't do it. Now I'm trying again, but having a hard time because all the banks are closing, my credit lower and my income is not enough. Instead of the 6% and a pay out I was being offered 3 - 4 months ago, its now 10% with pay out or no pay out, and a lower interest rate. Instead of my credit being 720 when I started it is now 620. Who runs your credit 19 times in 4 months, Countrywide did. If I don't get thru this in the next month, I will find myself foreclosing. In my case Countrywide is responsible and they're suppose to be my mortgage company. I thought who better to turn to. What do I do now? I tried the steps to avoid foreclosure and was screwed instead. All that 0% down is false advertising.

Responses

  • Ma
    Macy C Jul 02, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I'm on month 24... giving up, this process is no different than it was on day one when they said it would be 30-45 days... I have tried every method possible and nothing has changed. Filing Bankruptcy and going to move on with my life... wish I would have never bothered with this, I would be two years ahead... don't do a short sale if you are wondering, I have never heard of a good case... still, and I have been listening.

    0 Votes
  • Cn
    cnjcomplains May 10, 2010

    Oh my, I read your complaint and it sounded exactly like mine! We go behind in mid 2017, thye offered us the modification, we did our part and got the paperwork back to them asap, we started making our new modified loan payment (which btw, was only like a $10 diference then what we were already paying), and they didn't post them to our account for over 3 months, reported on our credit we were 120 days past due, when really, 30 days was the max we were ever past due.. they also tacked on a fee labeled "fees due", for every month, which after numerous inquires about it, they finally said it was because they had to send someone to go by the house to make sure it was occupied...even though EVERY time I called and got the run around I continued to tell them, YES we are living in the house, we are payment the bill right? I told them, if they were gonna bill me for "supposedly" someone driving by, then why don't they have that person actually come to the door so they have real proof that someone is living in the home...of course they said "we can't do that".. Finally after I got sick of their BS, I contactyed they credit bureaus myself and sent them all my copies of my payments I made showing I was never that past due, and that, I was following through with the modifcation they offered us, and finally things got turned around. That was 6 months of BS!!!

    0 Votes
  • Ly
    LynnReg Dec 03, 2009

    I am experiencing the same exact thing! I entered all paperwork on a short sale on May 5, 2017 and nothing was ever done with this file except for it being passed on, re-assigned, re-assigned, ...Noone ever returns an email or phone call. I was given seven different negotiators who did SQUAT! i WANT A JOB WITH THEM, THEY ARE EITHER ON VACATION OR GETTING PAID FOR DOING nothing! No wonder they have so many foreclosures!!! They have a bunch of un-educated, illiterate, lazy workers who do nothing! They all just answer the phones as customer service reps and transfer you fro one to another and then after getting no where, they have the nerve to say, "Thanks You for calling Bank of America did we answer all your questions and concerns today?!" Ugh, I always say, No You Did Not, and my concerns are higher now after speaking to you!!!

    It's been 8 long, time consuming, grueling, frustrating months and still no resolution in site. A deal was made between the investors and the homeowner over 2 months ago, and this was done because someone from Jupiter had a light bulb go off in there head and contacted me out of the blue with the negotiations and the parameters that had to be met by the homeowner in order for the Bank to accept the agreement of Sale they had. This was not my assigned negotiator, noone that was assigned, just someone from the foreclosure department giving me 5 days to meet the terms or else Bank would reject the transaction! Imagine that!, they have the nerve to put a time frame on us but are not held to any accountability for themselves!

    Needless to say, Bank of america is the worst bank ever to deal with. With that said, there becomes a time when the seller/buyer and REALTOR becomes FRUSTRATED and ACTION HAS TO BE TAKEN. THIS IS A PROVEN PATTERN OF DISORGANIZATION, AN UNWILLINGNESS TO MITIGATE THE LOSS, AND A BLATANT LACK OF EFFORT TO HELP THE SELLER AVOID FORECLOSURE. Homeowners are now suing bank of america for all reasons mentioned.

    0 Votes
  • Cc
    ccbeach Nov 03, 2009

    I have two houses with Countrywide mortgages. I applied in March, 2017 two refinance both loans to a lower interest rate. I was not behind on payments, I did not want money out, my loan-to-debt ratio is fine. I filed the appropriate paperwork, for each mortgage to be at 4.65% . Suddenly, the paperwork was "lost, " the appraisal for one of the houses was "lost, " and therefore my file was not completed on time, and the loan process for both loans was closed. When I complained and said that I wanted to re-open them, I was told that the interest rate was now 5.75%, that my credit score had gone down in the last several months, and I might not even qualify for that. I wanted my $800 back --- representing the $400 up-front fee that they charged me for each loan. They refused. I called, left letters, faxed, emailed -- nothing. Right now I just want my $800 back since they lied to me about the paperwork not being in on time, they lied to me about the appraisal paperwork being "lost" (it turns out, by their own admission, that the appraisal on one of the houses was NEVER EVEN DONE by them) ---- AND...I shouldn't have had to pay the money upfront, over the phone, before the loan process had even officially begun. Please help. My husband has been out of work (he works in the construction industry, which is DEAD), and I can REALLY USE the $800. If I try to refinance, it will NEVER BE WITH COUNTRYWIDE/B of A AGAIN. Thank you.

    0 Votes
  • Di
    DisillusionedHB Jun 16, 2009

    Offer accepted on Oct. 21st for the home. Short-Sale process with Countrywide has been the same experience. Eight months later, 236 days later, I am still waiting on this short sale.

    Assigned, Reassigned, Reassigned, Reassigned...

    Does it ever end?

    Seriously, can one human being not complete a file? Do they not look at the date/order in which they were received? We are nearing an entire year here.

    0 Votes
  • Bt
    btlgwa Jun 15, 2009

    Below is a timeline of the life of this file. We had originally been told your short sale process was 45 to 90 days. We are now somewhere around day 140 with no end in site.

    I faxed the short sale packet to Country Wide on Jan 27th and again on Feb 3rd. I was told that it was uploaded into your system on Feb 1st and that the Short Sale process took any where from 45 to 90 days. On Feb 4th the file was opened and I was told it would take 7 to 10 business days to assign. After several requests for assignment to a negotiator the file was finally assigned on March 6th to a Mark Lewis. I was told he had 15 days to review. On March 13th the file was then re-assigned to a Celia Medrano, and I was also told she had 15 days to review the file. When I called in for a status update on 4/15/09 I was told that they needed updated pay stubs and bank statements. I faxed the requested documents in on 4/20/09. On May 4th I received an email from Cilia asking for updated pay stubs and bank statements because the ones I had sent in at the end of Jan were out of date and for the sellers to fill out and sign a Form 1126. I emailed Celia the requested documents on May 6th. On May 12th (2 months after Celia was assigned the file) our file was assigned to Stacey Johnson a second phase negotiator, I was told she would have 30 days to review the file. I called in today June 15th to get an update on the file and was told that Stacey's work load was to much and she had passed the file to you for review.

    0 Votes
  • Ka
    kay.ekern Apr 15, 2009

    I experienced a job loss at the beginning of February and wanted to make sure that our loss of my income would not cause a hit to my credit rating. I contacted Countrywide to see if there was anything they could do to either lower my payment or interest rate so that the mortgage would become less of a financial burden right now (My account is spotless). I was just exploring all options to help keep the most $$ available to me.

    After learning that I was not eligible to refinance because my loan amount was higher than my house was now apparently worth (since they were able to calculate the cheaper houses in the neighborhood selling but missed the more expensive ones), it was offered that I talk to someone about a loan modification that I might qualify for. Okay fine. But instead of transferring me, I was given another 888- number. So I called and sat on hold for 45 minutes only to find out I wasn't even close to qualifying for their "hardship" loan modification. Now, with every person that I talked to I started the conversation by stating that I was calling because I lost my job. Countrywide does not consider losing your job as a hardship, which is apparently the only way to get your loan modified. They said "we can do a hardship assessment once you get a job and maybe help you out with your payment amount then". REALLY? ARE YOU KIDDING ME? I thought not having a job was a pretty good example of the definition of hardship, and I told the representative this. I then asked her whether she had more option the help me if my loan was already in default. She confirmed. She was not amused with my inability to understand how they operate, so said thank you, and hung up on me.

    My husband and I are plenty able to pay our mortgage in full each month and on time. I just thought that I would try to be proactive and protect myself from ruining my credit, should it get that bad for us financially and it come to that. Thank you Countrywide for rewarding those who are a burden by not paying and for taking a dump on those of us who continue to be fiscally responsible.

    0 Votes
  • Pe
    Penny Apr 14, 2009

    I was struggling with my ARM mortgage last fall as I was laid off by Bank of America and unable to find employment. I was sent an offer by Countrywide to modify my loan at a much lower interest rate effective September 1, 2017.

    I eagerly agreed and accepted the offer. I was then able to keep my home and would hopefully be able to refinance at a later date. Since September 1, 2017, Countrywide had delayed processing the modification (because they are so busy so they say) and because of that they have reported me as being 120 days late in payments. Of course, that is not true and negatively affects my credit rating. However, I have called repeatedly for the past 6 months and have talked with no one that knows what is happening, not interested in even pulling up my information, have been hung up on, argued with, and still haven't been able to find anyone with any authority, responsibility, desire, nor ability to resolve their error.

    As a final attempt I have contacted their Office of the President to see if this matter can be resolved. And could I refinance with this type of credit bureau reporting? Absolutely NOT!

    I am so frustrated with their Customer Service and what is funny is that I worked for Bank of America as a Customer Service Manager for 7 years and can't believe that this lack of training, lack of authority, lack of customer service abilities, and apathy is acceptable much less pervasive.

    Yikes to Countrywide

    Penny

    0 Votes
  • Ji
    jim Apr 03, 2009

    There is not enough blog room to talk about all the problems at countrywide mortgage. They are a company full of excuses. I have dealt with them for months sent multiple copies of the hardship package to them, talked with them on numerous occasions only to get a letter saying they were closing my file since they never recieved my hardship package. This is there MO since the beginning. By the way Bank of America is no different. Have dealt with them on numerous short sales and they are pathetic. They will spend a ton of money having their collection dept call three times a day asking the same questions over and over again. Yet they will not spend a minute of time trying to find a way to keep you in your home. Just a scam caused by the banks and our corrupt politicians ! Banks put the democrats and republicans in office now they are getting paid back in full. Screw the public and then make them pay the bills

    0 Votes
  • Ca
    catz814 Feb 03, 2009

    I received a letter from Countrywide stating I had to have flood insurance on my property because according to FEMA I was in zone AE (a flood area). I contacted FEMA who had me download their insurance maps. I am clearly in zone X. I called and faxed the FEMA maps with no results except a headache. They totally refuse to acknowledge the maps, even though its the exact same map they said they used for their determination. Their letter also informed me that if I do not get my own flood insurance they will take out flood insurance from my escrow with, surprise, surprise, Countrywide Insurance Company. After almost three weeks of arguing and faxing it looks like this will be going to court.

    0 Votes
  • Ro
    Ron Sep 20, 2008
    This comment was posted by
    a verified customer
    Verified customer

    They are by far the worst lender I have ever dealt with...I have waited 6 months, and have given them everything they asked for except my blood and still nothing. Perhaps if I was Senator chris Dodd I could have gotten a deal...The good news is Bank Of America bought them out and will probably dissove them when they see how HORRIBLE they are. They go beyond the word SUCK

    0 Votes
  • Br
    Brigisme Sep 12, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I was proactive from the very beginning when my family member experienced identity theft last year in October, 2017. I contacted Countrywide and nofified the representatives of my situation, conveyed to them about identity theft, expressed this was the reason for my late payments, and spoke about my securing a loan modification. I continued to contact Countrywide and was told that I could not gain immediate assistance for a loan modification because my home loan was not in foreclosure. I asked if this was the only way to gain immediate assistance and was told yes. In May of 2017, I was contacted by a Countrywide representative. The representative conveyed that I have a fixed rate loan for the next 30 years and payments due were added to the arrear of my loan. I expressed that the value of my home depreciated and asked if my principal could be reduced for my loan. I was told no. She continued to explain that I have a thirty year fixed loan and needed to sign the necessary documents, otherwise Countrywide would proceed with foreclosure. I questioned her because she told me that my interest rate increases every year until 2017. I told her to my understanding, this loan is not a fixed rate loan, however something similar to an adjustable or subprime loan. She told me too bad, sign the documents, there wasn't anything I can do, and just make sure I have everything notarized, and return FedEx. I complied and returned the documents with much hesitation. Since that time, I contacted the President of Countrywide and received the same results. Since that time, I have written letters to government officials. Yesterday, September 1oth, I received a letter from Countrywide about a data breach which means my personal information may be sold, otherwise identity theft. This is the very same thing my family member experienced last year which caused us a delay in mortgage payments. Countrywide has known about the data breach since August, 2017, and I as well as many customers have been notified late. It is sad that Countrywide representatives are very uncooperative in assisting customers, even after Bush signed the law into effect for Countrywide and other mortgage lenders to work with their customers to avoid more foreclosures, yet customers are to accept the late notification about a data breach. In closing, do not expect Countrywide to work with customers with negotiating a loan which match today's property value.

    0 Votes
  • Le
    leftfield101010 Jul 18, 2008
    This comment was posted by
    a verified customer
    Verified customer

    People like Lisa Dolce and others are the demise of the economy. If a person has something go wrong, the blame is automatically misplaced on someone else, instead of taking responsibility for not doing research. So the gut reaction is SUE SUE SUE. It is because of these people that HONEST people get to pay higher prices at the store, and get screwed in the end.

    Buck up and take a little responsibility, people. Quit blaming others because you didn't do a little footwork and time to find out if you were getting the best deal or not. I am tired of paying for your "free lunch."

    0 Votes
  • Li
    Lisa Dolce Jul 18, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I believe that we should instigate a class action lawsuit.
    Countrywide is THE worst mortgage company I have ever dealt with. I imagine there are so many other unsatisfied customers out there who don't access computers and vent like we do.
    Anyone is welcome to email me at [email protected]
    Let's do something about this!

    0 Votes
  • Ss
    s. spence Jun 18, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I'll make this brief, albeit hard to do with my intense anger at Countrywide. Story goes like this...Husband lost job for 3 month. Made what payments we could. Told Countrywide of situation. Eventually payments were kicked backed. After numerous calls with numerous agents we were given the "hurry up and wait" during which time offers were made by both sides. NOTHING was excepted by Countrywide, to include all financial statements showing ability to repay and money in the bank. Holding on to hope that they "of course would not want another empty house" and that they would offer something to us to save our home, as of today Countrywide has refused to have any more dealings with us and our house goes on the foreclosure market Monday the 23rd of this month, 5 days!
    I have yet been able to talk with a supervisor and have been disconnected from 3 times. I am scared, and desperate. The worst part is, we are able to pay. They have held us off for so long refusing our payments that they stated today that we are too far behind to negotiate.
    I'm looking for an attorney or anyone who has had the problems we have had.
    Any suggestions would be appreciated. God bless us all!

    0 Votes
  • Na
    Natosha Davis Mar 21, 2008
    This comment was posted by
    a verified customer
    Verified customer

    We were told we were disapproved then when we waited and waited for our loan they kept telling us OH everything is OK it is just taking longer than we thought !!! I actually fired our loan officer after SEVERAL lies... 4 weeks after he was FIRED they took almost $400 out of our checking account for an APPRAISAL WE DID NOT NEED... and after the deal had fallen through due to all this... the home owner opted to back out for a better offer!!! Now we are SCREWED out of over $1000 (home inspection WE PAID FOR) and appraisal we told him to cancel!!!

    0 Votes
  • Ca
    caroline hockelberg Jan 09, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I myself have been the victim of placing trust in what I believed was a nationwide mortgage co.practicing truthful lending. My credit was strong and I had well over 120,000. in paper equity in my home, I was a current customer of countrywide and they offered a debt consolidation loan and a better rate. The mortgage was brokered over the phone, they found the best deal on a homeowner's insurance policy and never mentioned this lower home payment was made possible by omitting an escrow account, Everything's Taken care of I was assured constantly! So three months ago my payment goes from 1160.-to 2200. and NOW I'm finding a forced place homeowner's policy and oh yeah I owe back taxes as there was never an escrow account! I call my county tax collector and my unpaid taxes of 2750.00 have been sold to a corporation, and I now owe and additional 2100. for the year of 2017. Interestingly the clerk of the county informs me that well over 70% of people owing back taxes were unaware they were also refinanced without escrow accounts. I take responsibilty for being unaware of this vital information in such a significant finacial investment; but am awe struck that this has become an "industry standard" in refinancing homes with escrow accounts(the modern standard)to omitting it stealthly to sell you on the lower payment.

    0 Votes
  • Ma
    Marcia Quinlan Aug 23, 2007
    This comment was posted by
    a verified customer
    Verified customer

    I attempted to get a refinance mortgage from CountryWide recently but was very unhappy with their "customer service". After the initial contact and them collecting my personal financial information, 2 months went by with no word from the "mortgage broker". When I attempted to call and e-mail, it took several tries to get a response, and the response that I did get implied that I was bothering the mortgage broker. My application was finally completed almost 6 months after I had initially contacted the company, and then it was mailed to my house without my knowledge and my entire financial history sat on my front porch for a day, unbeknownst to me since they had failed to communicate that they would be mailing the application. This is how they "safeguard" your private information. If someone had picked up the application they would know where I bank, my credit card numbers, my social security #, where I work, etc, etc. I was just expected to sign the application and send it back, again with no explanation of the process and no service provided whatsoever. I didn't sign it, due to the horrible service I received and the facts that the amounts were incorrect. These mortgage brokers make a huge commission on these loans, and I don't think it was unreasonable to expect some service in return. Let me mention that I have excellent credit and a very stable work history so to be treated so poorly made a huge impression on me, and not a good one. I was subsequently referred to a true mortgage broker whose definition of customer service more closely matches mine, and had my refi in my hand in 8 days, with no distress or implication that I am not credit worthy. I will never again do business with Countrywide.

    0 Votes
  • Da
    Daphne M. Calkins May 29, 2007
    This comment was posted by
    a verified customer
    Verified customer

    We bought our place 5 years ago and our contract was sold to Countrywide. We tried getting refinancing through them but was denied because someone had removed the HUD tags on the back of manufactured home. When the appraiser came out he told us that if we get an affidavit of a fixture that it should be enough but per Countrywide it wasn't. My question is: If we decide to sell the home our we going to be able to do so or our we going to be denied it because of the tags? Or is this something that is done in Arizona?

    Thank you.

    0 Votes

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