In 2006 we refinanced with Countrywide at a quoted rate of 7.25%. When we got to closing having made commitments to pay off other bills they told us that the rate had to increase to 10.25% but only for a year or so until we showed we could pay on time and then they would refinance. Having other bills to pay off we closed anyways figuring we could to the payments and refinance. Then about 6 months into the program they sent us a notice saying our insurance did not cover some risks and that they were putting a new policy on to protect themselves. They billed our account about $2500 and took it out of the mortgage payments we made making us late. We took this to Liberty Mutual Our insurance company and they sent a fax and a notice to Countrywide pointing out that we had been covered at all times and that we did not need any other insurance with a copy of this to the Insurance Commission. After several more months they took the insurance off and refunded our account the money they had taken. Subsequently, we were paying in each month around the 25th due to cash flow squeezes in our affairs but at all times making sure we could pay prior to the 30 day window. They then did not report the payment until the 2nd day of the next month reporting us late. We paid on line and had proof but they would not adjust the credit report giving us 5 lates in a row and ruining our chances to refinance in 2008. Then they tried the insurance scam again and we just got done getting it off for the second time in two years. Now the adjustable rate mortgage we were supposed to refinance in 2008 has a 10.5% adjustable rate even though overall rates went down not up. Efforts to try to get a new refinance through their facilties are met with your credit score is too low. The only thing we have at all that ever reported late is their mortgage due only to their misdeeds.
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