Countrywide Home Loans (Financial Sevices, Etc)
Countrwide Home Loans uses unethical, if not illegal accounting practices!

We are currently in foreclosure with Countrywide (for the 2nd time). After sending a payment back to us, we discovered we had been placed in forclosure. Miscellaneuos fees were placed on the escrow account. When payments were made, escrow amounts were paid first, leaving the available funds short of the actual payment. Late fees were placed on the account and it eventually went behind.

We called to discuss the matter and were told we would qualify for aloan modification. We were instructed not to send any payments to them until they ahd completed the modification, as they woul be returned. After waiting 1 month for an answer, we were informed that we had been denied. Our only options was a repayment plan drawn up by Countrywide.

After reviewing the re-payment option presented to us by them, we discovered a clause that releases them from claim or lawsuit if they violate any number of laws and acts including: Fair Housing, Fair Debt Collection, Fair Credit, and 8 others.

After speaking to a financial counselor and an attorny, we were told this was not legal, but the only way to fight it was to hire an attorney. This could take months. We decided our best option was to sell the house and pay off the loan... 1 problem - Countrywide refused to realease the payout amount. Our initial $84,000 loan has ballooned to $95,000 in less than two years due to Countrywide's "fees". Keep in mind that we have never had a second mortgage. The amount grew due to their miscellaneous fees and charges.

We hope to sell soon, but can only do so if CW agrees to the amount of the offer. We will see if that happens. I am not holding my breath. Unfortunately, our dream of home ownership has turned into a nightmare and soured us to the point that we may never purchase another. Please beware and do not be lured by false promises of the Ameican dream. They are lies.

Company: Countrywide Home Loans (Financial Sevices, Etc)
Country: USA
State: California
City: Calabasas
Address: 4500 Park Granada
Phone: 8776696607

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