- Report: #246570
Complaint Review: Countrywide Home Loans - Bryant Wisconsin
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Countrywide Home Loans
W7626 Edison Road Bryant, 54418 Wisconsin, U.S.A.
Phone:
715-610-7394
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Countrywide Home Loans Countrywide called and said we were in foreclosure and if we did not pay $5500 within 7 days we would lose our home. We were missing $62.00 from a payment. Ripoff Bryant Wisconsin
On April 4, 2007 Countrywide called and said we were being foreclosed on because we were missing $62.00 from our January payment. I asked why they had not contacted us regardin this and they said it was not their responsiblity. Today I contacted a lawyer. This has been the most stressful experience I have ever went through. As a matter of fact, it almost ended our marriage because of this. They held February's payment in suspense and according to our mortgage contract they we not able to do so. Then they proceeded to tell me that we would need to ask for a reinstatement of our loan with them. On the day I got the figure of the reinstatement it was for $5500.00. They would credit the "partial" payment from January and they would also credit the payment they were holding in suspense. We cashed in an IRA and paid the balance immediately. I spoke with someone everyday up to the day that our reinstatement figure was good for. I received the reinstatement figure on the 10th and it was to be paid in full by the 18th. I tracked the whole thing to the time it was delivered to a desk in their offices. They waited right up to the 18th to post the amount. We never received on piece of paper that stated we were in default or that our home was up for foreclosure. We owed $150,000.00 our home is worth $280,000.00. I am beginning to wonder if they don't do this so that they can make some extra money. Needless to say, May one came and went and we did not recieve a statement to make the payment that was due on the first. We called Countrywide and they proceeded to tell us that they sold the loan to another company. We received today a letter from them dated April 10, 2007 that our loan was being purchased by a different company. OK so that is dated April 10, 2007 today is May 2, 2007 and the mortgage was due yesterday. Needless to say the payment has gone out to the other company, but they do not have any information regarding the fact that they have our loan. They don't know. So are we going to be out another $1100.00 because Countrywide pulled another fast one. Well, I had enough and filed a lawsuit today. We do not have an escrow account and according to their contract they can not hold a payment in suspension they must apply any amount sent to them, well than what did they do with the payments that they held in suspension.
Needless to say, our credit is now junk and I am a college graduate who is furthering to a masters degree in law and know that what they have done is illegal, but in the same sense did not want to take any chance that we would lose our home so we paid what they demanded. Again , we did so without any paperwork. We still have none saying we would be foreclosed on.
I discourage anyone from taking out a loan with the name Countrywide Home Loans on it. To our misfortune we have a second mortgage with them and now that our credit is a wreck we will be completely unable to get that one out of their hands. Talk about them thinking they are Goliath, they really do, those of us that they have done this to need to rise up, it seems there my be a class action lawsuit here.
Denise
Bryant, Wisconsin
U.S.A.
Needless to say, our credit is now junk and I am a college graduate who is furthering to a masters degree in law and know that what they have done is illegal, but in the same sense did not want to take any chance that we would lose our home so we paid what they demanded. Again , we did so without any paperwork. We still have none saying we would be foreclosed on.
I discourage anyone from taking out a loan with the name Countrywide Home Loans on it. To our misfortune we have a second mortgage with them and now that our credit is a wreck we will be completely unable to get that one out of their hands. Talk about them thinking they are Goliath, they really do, those of us that they have done this to need to rise up, it seems there my be a class action lawsuit here.
Denise
Bryant, Wisconsin
U.S.A.
2 Updates & Rebuttals
Kevin
Houston,Texas,
U.S.A.
They have been investigated before
#2Consumer Suggestion
Sat, May 12, 2007
From what I remember, they have been investigated before because of their tactics.. This is unfortunate what they did.. Go back and research your contract. Companies are not allowed to "hold payments" in suspense because you were delinquent by $62 on a previous month. Most, if not all, companies will advise that your payment is applied to any late fees, interest accrued on the late fees, interest, past due amount, and then finally current payment... They had no business to do this.. Check and see if there are any laws related to deceptive and misleading trade practices.... Did they ever send you a letter advising of your right to "cure"? I would file complaints with five places (use one letter).. First here: Countrywide Home Loans, Inc Address: 4500 Park Granada Blvd. Calabasas, CA 91302-1613 Phone: 818-225-3000 Fax: 818-225-4431 Here is a list of their executives: Chairman and CEO: David Sambol President and COO: Andrew (Drew) Gissinger III Senior Managing Director and CFO: Mark E. Elbaum Second place: Wisconsin Attorney General's Office Third: Wisconsin Office of Banking/Financial Institutions Fourth: Federal Trade Commission Fifth: California Attorney General's Office (since this is where their home office is located) Sixth: California Office of Banking/Financial Institutions Now, use one letter but address it to the executives at that company, but at the end where you sign, put: CC: All the other places listed above This will get their attention if there is a hint of government intervention...
Tamara
Palm Bay,Florida,
U.S.A.
Foreclosure
#3Consumer Comment
Sat, May 12, 2007
Denise, I find it interesting that they "sold" your mortgage to another company. They told me that the "never" sell! I wish they would sell ours, we're having to file Chapter 13 to save our home from these vultures. I know someone in power knows about this web site, why isn't anyone doing anything about them?!?!?
