Countrywide Home Loans
Ripoff mishandled escrow caused chapter 13 bankruptcy

In January Country Wide Home Loans sent me a check in the amount of $1015.00 informing me they over paid my taxes for the 2003 fiscal year.

I called three times, spoke with three different individuals and recieved the same answer, "we overpaid you taxes and the money is yours to keep do with it what you will.in 2005 I recieved another check for the same amount once again, even more confused I called them again and recieved the same answer. I waited for a few weeks and deposited the check. On the third year in
January I recieved a letter informing me my escrow account was in the negative and my payments would increase $400.00 a month for 18 months to make up the negative balance.

I called the mortgage company and they stated the checks they wrote me were a mistake and they had no idea why they sent them. The payment increase caused me to file
chapter 13 bankruptcy. You might ask, why not sell your home and get another house? The reason is this I financed with a great intrest rate and my payments were lower than any house or apartment of that size. I also have a five year old son and I would rather keep my house instead of trying to come up with a deposit or down payment for a new house or rent home. Now we are in
year 2007 and I just recieved a letter from them again stating my escrow is in the negative $8000.00 for the years 2006 and 2007.

How is this possible my taxes didnt double and my house has only increase in value $12,000.00 since I bought it in 2001. I could understand a tax increase of three to sixhundred dollars in a year and I would expect the mortgage company to inform me of this so I could be paying the difference a month at a time. They didnt. I have been paying $1826.00 a year in taxes since sept. 2004 and I called the city to see what my total taxes have been for the past three years they informed me the taxes were all average about $2200.00 per year. That
would put me having a negative escrow balance but not
$8000.00 worth, where is the $8000.00 coming from? To top itoff they are telling me my payment will double to $1486.00 per month starting in July for 18 months to cover the balance. Also my insurance went down almost $200.00 dollars last year and I have not seen where that money is going, I would think it would reflect on my
monthly payment. I have googled Country Wide home Loans and have seen complaints from coast to coast. That is alot of complaints, now I realize that people can complain and post complaints that are just complaints because they are mad and in fact it is there fault the
situation they are in, but to have this many people complain is rediculous and something needs to be done about it.

There is alot more to my story but I wont keep talking. I just want people to know about it and see if there is something that can be done. One question? Why, when they paid my taxes each year and noticed my escrow did not have enough money in it didnt they inform me, why wait
two to three years to let me know. And where do they get $8000.00 in taxes? I could have that much in taxes add up since I bought the house, are they trying to put hugh fees on this even though I had no idea. They should have to call and inform people of this not wait three years.

Company: Countrywide Home Loans
Country: USA
State: Texas
City: Dallas
Site: countrywidehomeloans.com

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