Complaint Review: Countrywide - Internet

I found this site today and I was in total shock at the stories regarding home loans through Countrywide that are in the middle of foreclosure. Prior to this, I had felt that only we were in the middle of the most ridiculous yet devastating experience of our lives. We purchased our first home in June of 2006 through a different lender. After about 1 year or so, we received a phone call about a week prior to our mortgage payment being due. I was told that Countrywide had purchased our loan from our previous lender. This shocked me as this being our first home purchase, we did not realize that this is fairly common. How I wish this had never happened!! For about 6 months or so I had no problems other then paying directly to Countrywide's website was 12.00 each month. I did not care for that and quickly set them up to my on-line bank account.

All was well for a few months and one time when I logged on to CW's site to view my account, I noticed our payment had dropped about 200.00 Since we had an adjustable rate and per our realtor (another nightmare) felt the economy would not change drastically before the 2 year mark where we could refinance and lock in our rate,I did not panic at the change. I knew June of 2008 was our 2 year mark, and we had been very strict and never late with any payments so that refinancing would drop our payments to a reasonable amount. Up until Jan-08 we were receiving all kinds of offers from everyone you could think of wanting us to use them to help us with the refinance process. Countrywide as well, was sending us weekly emails with updates as to our equity and Anniversary date. So I decided to start with them and see what they had to say, yet being the bargain shopper I am, still keeping my eye out for the best possible offer. I was hoping CW would come through though and make it all he easier since we were already with them. Were we ever wrong!

Well right around Dec-07, I noticed my house payment was returned to my account. I had nothing for an explanation. So my husband and I then started the many wasted hours on the phone being put on hold and passed to just about every single person in the company and not one person ever seemed to be able to talk with us and get something straightened out. We did however find that the 200.00 reduction to our house payment was the property taxes that we had signed into our paperwork to be paid monthly. At some point after we had been with them for a few months, CW had deleted the amount from our payment (do you not think we would have had to sign something and if we had been asked we would have said NO)?? They told us that for the year only 3.00 had been applied to the taxes. Since our property taxes were supposed to be in the payment, why in the world did they send 3.00 towards them? During that phone call they wanted a check in full for the full amount owed for taxes. We tried in vain to get them to work with us and take the monthly payment up higher for a bit to catch it up. Although, this was very hard to keep a patient tone as what we really wanted to say we could not as they probably would have made us just vacate right then. They have admitted an error on their part as they have stated they have so many accounts it is hard for them to keep organized. I don't think this is our fault and CW should be accountable for their error and for not honoring the contract that they chose to buy and failed to properly execute.

We have not been able to speak to anyone about this and believe me we have tried. We are told that so and so will call us in two days. We ask if that means they are out tomorrow and the answer is no. Countrywide has also stated that because they are so large, they are having a hard time keeping up with all of their contracts. Well that is a pity. How many of us get to say that at our jobs - just tell customers/clients we can only call back in 2 days, and then never even bother. Apparently, CW is so large now from gobbling up everyone's loans that they are well aware they have the power to do and say as they wish as there must not be a whole lot of competition for them to care about their current customers - not when they can just get more where we came from! We have yet to contact a lawyer and I am not sure where we stand here, but CW has returned several payments and one payment was a double payment which was discussed and agreed to upon the phone with our "Account Executive" who right after that payment was returned, has never again been available again to talk to.

I really do not know how we are supposed to hire an attorney and pay all the back house payments that have been returned and according to our "Notice of Default" which was taped to our door rather then served in person, but states we have to pay Countrywide's attorney's as well. I really need to find out what the legalities are here and whether we have any rights at all.

We are willing to stand with anyone who wants to come together and try to fight this. We are too unsure as first time homeowners as to how to proceed. We have received offers from realtors to sale it for us, mitigators who want to help us but not one word from Countrywide. They seem to be just fine and making plenty of money by foreclosing and pulling houses out from under people based upon rules that are apparently just barely legal. Someone has to stop them and my husband and I intend to do just that. Please contact us if you want to ban together. The more we are, the more powerful we can be.

Thank you for listening.

Sincerely,

2 Failed American's with no more dreams

The alien

Internet, Washington

U.S.A.

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