Complaint Review: Countrywide Home Loans Inc.

Let me preface my response by sharing a little bit of inside information with you. Countyrwide Home Loans is a company that has it's roots in a tiny garage in a little bitty house 30 years ago in the San Fernando Valley area of Southern, CA. Today CHL is an international(GHL) multi-billion dollar company. I can assure you this success did not occur by intentionally issuing loans against unstable properties or delinquent customers.

Mr. Veteran, I can certainly empathize with everything that you have been through.I also know that dealing with large organizations can be very difficult, they often make you(us)as a consumer, feel insignificant.

Having said all of that, let me explain the process of securing and government loan and what that a c t u a l l y entails. Just as you mentioned in your complaint-it is our duty as a "designated" or "approved" lender to process, underwrite and secure FHA and VA financing.

During that process we qualify the potential owner as well as the property to ensure that all parties involved INCLUDING ourselves are safeguarded from various undesirable dispositions such as the one you are in right now. Although we strive to conduct business with 100% accuracy, obviously we cannot meet these expectations all of the time.

The appraiser that was used on your transaction sound incompetent and that is no fault of yours. The appraisers that we use are not employees of CHL-but third party vendors. We do this specifically so that there are no issues with regards to conflict of interest. You should and will not be held liable for that. If there are structural problems with the property and you nor CHL caught them during the escrow. You still have the ability to file an insurance claim (especially with a VA loan).

I find it hard to believe that the property was in such bad shape that you allocated your mortgage payment to correct the problems instead of paying your mortgage. Surely the property couldn't have gone from a condition where you, CHL, the appraiser and the prop. inspector didn't notice anything-to all-of-the-sudden being so bad that you would make a decision to become delinquent on the mortgage in order to make repairs.

The bottom line is that it sounds like you want to keep that house.Let me reassure you that we want you to too..remember we are a lender. I don't have to tell you, a significant amount of profit is generated from 30 years worth of interest(right?). We are not Countrywide Real Estate we are mortgage company that want you to keep paying that mortgage interest:)

I would reccommend that either you or your attorney contact CHL and attempt to have the situation resolved without verbally blaming the company (your business partner)for the foreclosure proceedings. No one put a gun to your head and made you sign the loan paperwork, you came to borrow money from us,.... we gave it to you,... there were some mistakes made by all parties and instead of attempting to come up with a plan-you immediately blame us. Why not balme your wife? right-she didn't stop you either. Or how about the Seller? There are many people involved and at FAULT, but you have chosen to blame the last people you should blaming. You are not the first person to have this happen in the history of Real Estate. Explore your options-there IS a way out. Good Luck.

Let me preface my response by sharing a little bit of inside information with you. Countyrwide Home Loans is a company that has it's roots in a tiny garage in a little bitty house 30 years ago in the San Fernando Valley area of Southern, CA. Today CHL is an international(GHL) multi-billion dollar company. I can assure you this success did not occur by intentionally issuing loans against unstable properties or delinquent customers.

Mr. Veteran, I can certainly empathize with everything that you have been through.I also know that dealing with large organizations can be very difficult, they often make you(us)as a consumer, feel insignificant.

Having said all of that, let me explain the process of securing and government loan and what that a c t u a l l y entails. Just as you mentioned in your complaint-it is our duty as a "designated" or "approved" lender to process, underwrite and secure FHA and VA financing.

During that process we qualify the potential owner as well as the property to ensure that all parties involved INCLUDING ourselves are safeguarded from various undesirable dispositions such as the one you are in right now. Although we strive to conduct business with 100% accuracy, obviously we cannot meet these expectations all of the time.

The appraiser that was used on your transaction sound incompetent and that is no fault of yours. The appraisers that we use are not employees of CHL-but third party vendors. We do this specifically so that there are no issues with regards to conflict of interest. You should and will not be held liable for that. If there are structural problems with the property and you nor CHL caught them during the escrow. You still have the ability to file an insurance claim (especially with a VA loan).

I find it hard to believe that the property was in such bad shape that you allocated your mortgage payment to correct the problems instead of paying your mortgage. Surely the property couldn't have gone from a condition where you, CHL, the appraiser and the prop. inspector didn't notice anything-to all-of-the-sudden being so bad that you would make a decision to become delinquent on the mortgage in order to make repairs.

The bottom line is that it sounds like you want to keep that house.Let me reassure you that we want you to too..remember we are a lender. I don't have to tell you, a significant amount of profit is generated from 30 years worth of interest(right?). We are not Countrywide Real Estate we are mortgage company that want you to keep paying that mortgage interest:)

I would reccommend that either you or your attorney contact CHL and attempt to have the situation resolved without verbally blaming the company (your business partner)for the foreclosure proceedings. No one put a gun to your head and made you sign the loan paperwork, you came to borrow money from us,.... we gave it to you,... there were some mistakes made by all parties and instead of attempting to come up with a plan-you immediately blame us. Why not balme your wife? right-she didn't stop you either. Or how about the Seller? There are many people involved and at FAULT, but you have chosen to blame the last people you should blaming. You are not the first person to have this happen in the history of Real Estate. Explore your options-there IS a way out. Good Luck.

Let me preface my response by sharing a little bit of inside information with you. Countyrwide Home Loans is a company that has it's roots in a tiny garage in a little bitty house 30 years ago in the San Fernando Valley area of Southern, CA. Today CHL is an international(GHL) multi-billion dollar company. I can assure you this success did not occur by intentionally issuing loans against unstable properties or delinquent customers.

Mr. Veteran, I can certainly empathize with everything that you have been through.I also know that dealing with large organizations can be very difficult, they often make you(us)as a consumer, feel insignificant.

Having said all of that, let me explain the process of securing and government loan and what that a c t u a l l y entails. Just as you mentioned in your complaint-it is our duty as a "designated" or "approved" lender to process, underwrite and secure FHA and VA financing.

During that process we qualify the potential owner as well as the property to ensure that all parties involved INCLUDING ourselves are safeguarded from various undesirable dispositions such as the one you are in right now. Although we strive to conduct business with 100% accuracy, obviously we cannot meet these expectations all of the time.

The appraiser that was used on your transaction sound incompetent and that is no fault of yours. The appraisers that we use are not employees of CHL-but third party vendors. We do this specifically so that there are no issues with regards to conflict of interest. You should and will not be held liable for that. If there are structural problems with the property and you nor CHL caught them during the escrow. You still have the ability to file an insurance claim (especially with a VA loan).

I find it hard to believe that the property was in such bad shape that you allocated your mortgage payment to correct the problems instead of paying your mortgage. Surely the property couldn't have gone from a condition where you, CHL, the appraiser and the prop. inspector didn't notice anything-to all-of-the-sudden being so bad that you would make a decision to become delinquent on the mortgage in order to make repairs.

The bottom line is that it sounds like you want to keep that house.Let me reassure you that we want you to too..remember we are a lender. I don't have to tell you, a significant amount of profit is generated from 30 years worth of interest(right?). We are not Countrywide Real Estate we are mortgage company that want you to keep paying that mortgage interest:)

I would reccommend that either you or your attorney contact CHL and attempt to have the situation resolved without verbally blaming the company (your business partner)for the foreclosure proceedings. No one put a gun to your head and made you sign the loan paperwork, you came to borrow money from us,.... we gave it to you,... there were some mistakes made by all parties and instead of attempting to come up with a plan-you immediately blame us. Why not balme your wife? right-she didn't stop you either. Or how about the Seller? There are many people involved and at FAULT, but you have chosen to blame the last people you should blaming. You are not the first person to have this happen in the history of Real Estate. Explore your options-there IS a way out. Good Luck.

Let me preface my response by sharing a little bit of inside information with you. Countyrwide Home Loans is a company that has it's roots in a tiny garage in a little bitty house 30 years ago in the San Fernando Valley area of Southern, CA. Today CHL is an international(GHL) multi-billion dollar company. I can assure you this success did not occur by intentionally issuing loans against unstable properties or delinquent customers.

Mr. Veteran, I can certainly empathize with everything that you have been through.I also know that dealing with large organizations can be very difficult, they often make you(us)as a consumer, feel insignificant.

Having said all of that, let me explain the process of securing and government loan and what that a c t u a l l y entails. Just as you mentioned in your complaint-it is our duty as a "designated" or "approved" lender to process, underwrite and secure FHA and VA financing.

During that process we qualify the potential owner as well as the property to ensure that all parties involved INCLUDING ourselves are safeguarded from various undesirable dispositions such as the one you are in right now. Although we strive to conduct business with 100% accuracy, obviously we cannot meet these expectations all of the time.

The appraiser that was used on your transaction sound incompetent and that is no fault of yours. The appraisers that we use are not employees of CHL-but third party vendors. We do this specifically so that there are no issues with regards to conflict of interest. You should and will not be held liable for that. If there are structural problems with the property and you nor CHL caught them during the escrow. You still have the ability to file an insurance claim (especially with a VA loan).

I find it hard to believe that the property was in such bad shape that you allocated your mortgage payment to correct the problems instead of paying your mortgage. Surely the property couldn't have gone from a condition where you, CHL, the appraiser and the prop. inspector didn't notice anything-to all-of-the-sudden being so bad that you would make a decision to become delinquent on the mortgage in order to make repairs.

The bottom line is that it sounds like you want to keep that house.Let me reassure you that we want you to too..remember we are a lender. I don't have to tell you, a significant amount of profit is generated from 30 years worth of interest(right?). We are not Countrywide Real Estate we are mortgage company that want you to keep paying that mortgage interest:)

I would reccommend that either you or your attorney contact CHL and attempt to have the situation resolved without verbally blaming the company (your business partner)for the foreclosure proceedings. No one put a gun to your head and made you sign the loan paperwork, you came to borrow money from us,.... we gave it to you,... there were some mistakes made by all parties and instead of attempting to come up with a plan-you immediately blame us. Why not balme your wife? right-she didn't stop you either. Or how about the Seller? There are many people involved and at FAULT, but you have chosen to blame the last people you should blaming. You are not the first person to have this happen in the history of Real Estate. Explore your options-there IS a way out. Good Luck.