On February 2 I was contacted by a Countrywide Home Loans rep., on refinancing my home. I wasnt really interested until he told me if we acted now we could save 2% interest from our current mortgage. I agreed, then he told me I needed to sign immediatley to lock in the lower rate of the new loan, so he faxed me the documents. He then told me of the required documents that I would need to send to him, paystubs, current mortgage balances, home insurance, W-2 forms, etc.
I faxed the required documents to him the very next day, He called me and told me he had received all the documentation from me and assured me that was all that was needed. He then informed me that I would have to pay $300.00 for an appraisal, I then asked is this loan guaranteed? His reply was, "no problem" so I agreed, the appraisor came and appraised our home 2 days later and $300.00 was deducted from our checking account. 1 week passed and I had not heard from him, I called him 2 times a day for a week leaving message after message for him to call me, no returned calls, I started getting nervous. Its now March 5th, he finally calls me and tells me there is some concerns the home did not appraise for what he thought it would, so he said what we can do is take out a 2nd mortgage and pay off some credit card accounts and vehicle loan, I agreed, he sent me the new credit application, we signed it, sent it back, I heard nothing back from him for 1 week, "again after leaving numerous message with no return calls", finally his team manager takes my call and tells me the loan rep is no longer with the company, he has transfered to another Countrywide agency in Oregon.
I plead my case to him, he says "I'll call you back in 15 minutes after I find out whats going on" 2 days pass and no call back, after leaving numberous messages he finally calls me back and tells me theres nothing he can do the loan is so messed up, I then reply, "I would like my $300.00 I paid for the appraisal" he says, " Countrywide Standard Policy states No Refunds on Appraisals" I am frustrated and would like any kind of input or assistance on how to deal with this matter. I told him that there was no disclosure made aware to me about Countrywides Standard Policy?
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