Countrywide Home Loans is deceptive and conniving. We have our first and second mortgage with this loan company. We have been in foreclosure three times. We salvaged our dignity and our home the first two, but are unable to do so with the third.
Our second mortgage payments went into arrears in May with a payment due of $300.00. It is now February and we owe $5,000.
We have been in contact with various staff persons throughout this foreclosure process. We have offered each time to pay them and the money was never accepted because it was not the full amount due. The reason for this is that the quote given to us was changing every five days. We were unable to keep up with the exuberant fees being attached to our loan. This past month it is rising $1,000.00 every 5 days.
We have tried to qualify for their "work out" programs but never qualifying because our debt to income ratio was too high. We were told at one point that I, being the mother of 2 kids under 8, presently working full time, needed to get a second job if we intended to keep the property. We were also told to borrow money and sell personal items. This was inappropriate, degrading, and demoralizing coming from the lienholder of my mortgage.
After the press announcement that CountryWide was being sold to Bank of America, we acted. This telephone call was received very differently. We were told that our loan had been put in a "clamp" and that it was more profitable for the investors to foreclose than to work with us. We were also told that a general practice of this organization was to transfer people in excess of 5 times with the intent that the caller's frustation would peak and they would hang up. This staff person was, in our opinion, the most honest employee we have ever spoken to. He agrreed to submit our information fo the "work-out" committee for disposition.
We were initially told this process would take 5 days. We called after five days and were told it would take 15 days. After 15 days had lapsed, we again called and were told 30 days. It was at this point that I asked that we be "grandfathered" into the 15 day promise and were vehemently denied. All the while the "fees" are escalating at a rate that the average american would never be able to pay.
Countrywide is compiling a breakdown of all of these fees for us after much persuasion and discord. We were told that these are Lawyer fees, although we were never contacted by a lawyer, either by phone or mail.
I have contacted the Attorney General's office and The Consumer Protection Agency and have yet to hear any resolve.
This is immoral, unethical, and surely cannot be legal. CountryWide maintains they follow all of CA laws to the letter.
Every day our fees are accruing at a rate of approximately $200. All told, we have paid CountyWide approximately $8,000 in fees alone from the other foreclosures. Always scraping by by the skin of our teeth. It is a difficult decision to make as to whether or not we eat or have a home.
We need help! If there is anyone who can commisserate of offer legal advice, PLEASE do so. We are looking to start or become part of a class action suit against CountryWide.
Please advise.
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