Countrywide was very dishonest in their dealings and discriminated against my situation. I own a home in Charlotte NC finance by Countrywide Home loans. I have been living and renting an apartment in Florida since 07 to care for my mother who is very ill. The house was on the market for over a year, during a time that I exhausted all of my savings to try to keep until sold. The houses in that neighborhood were selling below market price at about $70-75,000 an offer was made to Countrywide of 70,00 to settle and clear the debt however, Countrywide did not accept. I could not afford to keep the house in North Carolina while renting an apartment in Florida and I explained this to Countrywide.
My real estate agent explained to Countrywide that the houses in that area are selling for about 10,000 below market price An offer was made to Countrywide to accept a short sell a second time countrywide declined. I found another investor who offered Countrywide 75,000 and explained that no profit would be made a third time Countrywide declined the offer, after several offers and attempts to settle the debt to Countrywide the Countrywide agreed to accept/process a deed in lieu
In accepting a deed in lieu Countrywide stated the house had to be empty within 30days and I would received notice from their attorny to sign over the deed. After a couple of month I finally contacted Countrywide and was told two different story all in one phone call, first I was told that because I had mortgage insurance that protect me 45% of the loan would be paid by the insurance company and I would have no financial obligations. To be honest I never knew I had this protection insurance because Countrywide never disclosed this information during the short sell attempts. It was also stated during the conversation that this is the reason my case was so easy to process because of my insurance protection.
Within 10mins of the conversation after the representative reviewed my account and I was told that I had to sign a promisary note of $12,000 in order for the agreement of the deed in lieu to process this was never stated before. On the same conversation I was told the attorney did not send the paper work and a e-mail would be sent immediately to make the request again.
What is disturbing me and causing me to loose sleep is that I was also told if I did not sign the promisory note for 12,000 the house would indeed forclose and I would have total financial responsibilty and if I did not pay the difference of what ever the house sold for the balance would be reported to IRS as income I received.
I feel like I have been totally discriminated against, beat up lied to and placed under severe stress by my dealing with Countrywide Home Loans who concealled facts about the insurance that wasin place on the mortgage non disclosure and misrepresented information. I made every attempt to save my credit, settle the account and get this matter resolved my outcome has been like a nightmare that I can not wake up from.
If I have insurance protection why was it not offer with the short sell, an offer of 75,000 was made for the short sell of the home, an real estate agent explaind that the market value of the homes in my neighborhood was at least 10,000 below Market value selling at about 70-75000 including at least 6 to 8 houses on my block why would Countrywide allow me to go through a forcloser instead of taking the offer. Why was'nt I told about the IMG insurance After Countrywide agreed to process a deed in lieu why has no one contacted me to start the proceedings after two months I had to call when I was told it would take no more than two weeks.
I would like to proceed with a Law Suite against Countrywide because now I am wondering about the intergrity of the company what esle is not disclosed. Who looks at their practices on customer service I wonder how many more people are suffering at the hands of this monster company. I not sure what my legal rights are but I know what this company did to me is not legal and need to be exposed.
Viazadora
Tampa, Florida
U.S.A.
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