Comments on: Settlement Agreement with Countrywide Means More Loan Modifications for Virginians

By: d

Sun, 03 May 2009 15:23:10 +0000

DUMP THE RENTALS MAN.. YOU GOT WAY TOO MUCH DEBT BROTHER… JUST GIVE YOUR TENNANTS TIME TO MOVE OUT . TELL EM NOT TO PAY RENT ANYMORE TO SAVE MONEY TO MOVE IF YOU DUMPIN THE PROPERTIES YOU DONT NEED IT ANY WAY.. LETS FACE IT, THE AMERICAN DREAM IS SHOT BRO. YOUR NOT GONNA SEE ANY RETURNS ON HOUSING FOR A LOOOOONG TIME TO COME… DUMP THOSE RENTALS THERE KILLIN YA … KILLIN YA. GOOD LUCK MAN, I GOT INTO A FIGHT WITH MY BROKER WHO WAS MY WIFES FRIEND. WE WERE FIRST TIME HOMEBUYERS AND WERE APPROVED FOR 195,000. WE PUT NOTHING DOWN 6.5 %FIXED BUT THEN WE HAD A SECOND THAT CUNTRYWIDE GAVE US FOR 467.OK AT FIRST NOT GOOD BUT NOT BAD . 2 YEARS LATER WE WANTED TO HAVE A CHILD. WE REFIED OR AS I CALL IT REFRIED INTO AN ARM THAT MY WIFES FRIEND SAID NO PROB TWO YEARS YOU REFI BACK INTO A FIXED , YEAH LEMME TELL YA 80/20 ARM LATER MY MORTGAGE WENT UP THEN I COME TO FIND OUT THAT SHE NEVER EVEN CHECKED TO SEE ABOUT FHA OR CHFA . CHFA WOULD OF GAVE US 35000 TO PUT DOWN. THIS FUCKIN BITCH, GOT PAID ON BOTH MORTGAGES AND THE RATES. DID IT CAUSE SOME WARS .YEAH. I LOOK AT IT LIKE THIS I DIDNT PUT ANYTHING DOWN ON THIS HOUSE , SO IF I SELL IT FOR WHAT I PAID FOR IT I BRAKE EVEN . I AM NOT PAYIN 2500 TO LIVE IN A FUCKIN HOUSE MY FRIEND RANDY. RIGHT NOW THERE IS NO MORE WHITE PICKET FENCE DAY DREAMIN ABOUT OWNING YOUR OWN HOME . IM 38 YEARS OLD HOW MANY PEOPLE DO YOU KNOW THAT ARE PAYIN OFF THERE NMORTGAGES AT MY AGE?,,,,,,,,NONE!!! IF I RENT FOR THREE YEARS IM SAVING 36000 AT THE END OF THREE YEARS. INSTEAD OF THROWIN IT AWAY INTO A HOUSE THAT IM NOT GOIN TO SEE ANY RETURN ON FOR THE NEXT 5 TO 10 YEARS. I WANNA BE HAPPY NOW!!AND NOT WORRYIN ABOUT HOW MY KID IS GONNA EAT BECAUSE MY FUCKIN MORTGAGE IS 2500. IM NOT LIVIN LIKE THAT I’LL SHORT SALE THE MOTHER FUCKIN HOUSE OR I’LL SELL IT FOR WHAT I PAYED . I DID ALOT OF WORK TO IT, BUT IF CUNTRYWIDE WHICH IS BOA DOESNT WANNA MODIFY MY LOAN THEN FUCKEM I PUT NOTHING DOWN.IF I HAVE TO SHORT SALE IT I WILL AND I DONT HAVE TO DECLARE IT AS INCOME LIKE THE YEARS PAST . SOMETIMES YA HAVE TO MAKE BUSINESS DECISIONS. BUT IM NOT GONNA HAVE MY FAMILY LIVIN LIKE A BUNCH A FUCKIN IDIOTS. TO WHERE I HAVE TO SAY NO YA CANT DO THIS YA CANT DO THAT. AINT LIVIN LIKE THAT MAN. IN THREE YEARS AFTER RENTING I’LL HAVE SAVED 36000. SO I MAKE OUT IN THE END..THATS REALITY MY BROTHER RANDY.IF ANY ONE READING THIS BLOG WOULD LIKE T EMAIL ME MY EMAIL IS DPANDERSON2032@SBCGLOBAL.NET I’D LOVE TO HEAR FROM YA ABOUT THIS FUCKED UP SHIT THAT WERE ALL DEALIN WITH ,, WERE ALL FIGHTIN TOGETHER.. FOR ONCE IN YOUR LIFE DONT BE PART OF THE SYSTEM BE THE SYSTEM..EMAIL ME DPANDERSON2032@SBCGLOBAL.NET___

By: Randy

Randy — Sun, 03 May 2009 14:15:09 +0000

We have been told by an attorney that we will not be able to get a mod because we have rental homes. The rental homes are also underwater, but they are spinning off income due to the neg am loans they are financed with. What are the DTI requirements to be approved for a home that is 200,000 under water? Do they count the rental income? I have heard they do not count credit card payments in DTI as if they assume you will default on them. Our card payments have grown into another house payment, so this is critical as well. We purchased for 580, owe 460, and comps are 220-280 right now. It is an interest only loan that is fixed for 10 years, so CW told me to call back in 2016. That’s fine, but if I don’t make a payment until 2016, I am guessing they will foreclose in the meantime. We have applied 3 times in the last 8 months for modifications - even using a mod service - and just keep hitting dead ends.

By: d

Wed, 29 Apr 2009 01:26:45 +0000

im in the same boat, ya just have to wait it out. they are so busy they dont even know where to begin. there are attorneys that all they do is this kinda stuff. if you dont hear from em or there goona ‘blank’ ya, just get an attorney, thats what im gonna do. they tend to listen to attorneys more than they do the customer for some reason. i’ll pray for you. you pray for me ok …

By: Anonymous

Anonymous — Tue, 28 Apr 2009 09:40:10 +0000

We are in the same boat. Last Year end of 2008 CW said they were working with us and would modify our loan. We call them every week. They same the same things you guys say they tell you. We just found out that they were bought out by BOA and now they say we have to wait until the 7th of April. That we haven’t made a payment since August 2008. I don’t know what else to do. We have been through all the same run around answers. They lost our paper work and financials the first time. And, everytime we call they act like we have never called and tell us we haven’t made a payment in almost a year and then we say but you said you were working on a modification and we get another date to wait and see. They told me last time that if they were going to foreclose they would have already done so. I am scared and don’t know what to do. I don’t want to lose my house but we can’t afford the $1600 a month payment anymore either.

By: rick

rick — Thu, 23 Apr 2009 23:05:11 +0000

I tried back in october to have cw reduce my fixed rate from 6.75 to a lower rate they said they would have to go through a whole refi process I told them I wouldn’t qualify because I’m 100,000 upside down in home value was trying to lower my payments to ofset the upside down amount because there is no way my home value is going to increase 100,000 in 30 years plus the interest on top of that but I was willing to eat it they said to wait that some loan mod.programs were coming but didn’t have details yet called in jan. Gave all financial info but still no help since iwas in a fixed loan which idid to be responsible at the time I refinanced a 1st and 2nd to one loan with cw but now it seems if u don’t have an arm they won’t work with u now just want to lower principle and interest to afford the house but they say they arnt doing that.it seems it would be good business rework loans to make affordable for people cause they will make there money back on the interest over 30 years also would like to now were all this bailout money went just paid 7000 in fed income tax last year because I’m self employed they tax us up the ass hard to stay in business paying over 30 percent in taxes govt is just wasting are money like allways

By: Steph

Steph — Tue, 21 Apr 2009 06:23:08 +0000

Countrywide has done little to assist homeowners but stall them and yank their chain. No matter what telephone number you call, they will transfer you all over the place and not one person has the same answer. Three months of this run around from them and we’re STILL at square one. We have been given SO much misinformation it’s pitiful.

In doing any sort of loan modification, which they won’t mention (they want you to refi at a higher loan amount than what you owe!!! Craziness!!) they’ll lose money. They’d rather HAVE you house though it may be worth less on the market, AND get TARP $$. It’s been my dealing, and that of many others in the same boat, that Countrywide is doing everything possible to stall enough distressed homeowners to the point they give up and walk.

They’re not really interested in helping IMO, they’re just all talk and NO action. They’re one of the companies who were at the root of the problem in the beginning and it sure looks like they haven’t changed their tune now. Try as they may to polish up their public image, we who are going through all of this garbage with Countrywide, know what they’re REALLY made of.

Once a cheat, always a cheat.

By: Mike Vesh

Mike Vesh — Thu, 16 Apr 2009 19:21:36 +0000

I have called CW for 3 days. I have recieved 4 different numbers to call and most of the time it is a computer. I finally talked to someone yesterday and they said ( we cant help you at all). Im in the same place as most of you I owe more than the house is worth, would like to get a better interest rate and work with the bank. I am not late yet but almost. Why cant CW work with us to get thru the tuff times. They are Bank America now and BA got 45 Billion wares our help?

By: Jason

Jason — Mon, 13 Apr 2009 18:39:53 +0000

Countrywide is a big joke. I have heard that unless you are 2 months behind, they can do nothing to help you. Well now I am going on 3 months behind, and they still wont help me. I lost my job back in June of 2008. I was unemployed for a month, and honestly we are still suffering for that month today (4/13/09). Looking at the bills going out and the money comign in, we are underwater a little over $500.00 every month. We submitted our information to countrywide in hopes that we could get a loan modification after all the hoopla that Obama generated to help struggling homeowners stay afloat and in their homes. Obviously the rest of my bills have suffered due to the lack of finances each month, so now my credit is crap again. How am I going to be able to refinance with bad credt? I’m not. I mean how hard can it be to add what we owe to the back of the mortgage?I can do it with my car payment very easily, why should it be more difficult with the home loan? Well Countrywide came back and told us we do not qualify for a loan modification and told my partner that we could pay back the amount we owe over a 6 month period (adding $500 more a month to our mortgage payment). How can they even think that we would be able to afford an additional $500 when we are already $500 underwater each month. They basically said it was either that or they would have to start the foreclosure process. All I can say is WOW to their blatant disregard and lack of a heart. Why can’t this company help hardworking people like myself who bust their butts to make ends meet, and don’t have a loan with an arm? Why does it seem people with adjustable arms on their loans are the only ones who get help? I think there is more this company can do for us to help us keep our home. It is absolutely ridiculous that this company could think we can afford the 6 month mortgage increase.

By: Janet

Janet — Fri, 10 Apr 2009 16:43:38 +0000

Everyone on this board should send a copy of it to the congress or the office of the president so he can see that Countrywide is not assisting anyone and just taking the money that is given to them in this new housing program. Also, write your Attorney General.
Make some noise, Noise always works.

By: Connie

Connie — Thu, 02 Apr 2009 08:55:22 +0000

My Husband lost his job in Janurary so we had to take what we had in his 401K. It was not much because I finally got him to. It did not help but for house payments but it kept our utilities on. He finally got a job in March Thank God!!! We have racked up enough money for one payment. It has kept us out of 90 days late but they are not cashing the check they say they are putting a hold on it untill March!!! I have been reading the website and I see lots of people in the same situation. We have gave them all our new income. He is making about 15,000.00 less a year now.We have always made our payment each month. Even if it was late that month we payed the late charges. We wre strugling to make the payments because after the five years the payments wre always going up so much every few months.We gave 124,000.00 for our home and sometimes our payments went up to 1,740.00 (somewhere around that amount). I am diaablied and after I have my taxes, isurance taken out I get about 500.00 to pay my doctors and get my meds,We live in Southaven, MS. do we have help in this state. Thankyou for any help you can give us. My medical bills have really messed up our credit because of so many medical problems I have. Ie has put alot of stress on my marriage and now our home. Sincerly, Connie