I have had my loan with Countrywide for over 7 years, they kept raising my monthly payment, when I call to find out answers I get the run around and feel frustrated and confused. My payment started out at 800 per month and within a year or so they wanted 1200. I have just done what they said because they threatened to foreclose.
Right now I am 3 months behind and they refuse to take any payment at all unless I pay the whole amount of late charges and what ever else due - over 5000.00 when I figure it out I should not owe that much but some how they have added on all kinds of late charges.
I told them that I have never heard of a business not accepting a full payment even when someone is late on the payment.
When I first got my loan it was through a different lender and it was hard to get the right address from them to send the payment to the right place. (this might have something to do with some of my late charges) When late charges started accruing I tried to contact them to find our exactly what I owed. They would give me a figure. I would make the payment immediately. The payment would never show on our account. They'd add more late charges and say they couldn't accept a partial payment.
I found an article in my local newspaper stating that the government is stepping in, so I am hoping that I am not crazy and that this matter will get resolved some how.
I was told by a reputable lender that this kind of stuff is happening a lot with Countrywide and that they want my equity. I now owe more on my loan than when I originally got the loan. I think there might be some legal action that can be obtained. This is not all they have done but I have to get every thing organized because I have been feeling like I was going crazy trying to figure out how this could have happened.
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