We purchased our home in 2005 with a substantial down payment. We had a loan for $138,000 that was purchased by Countrywide from the broker we signed with. We were a single income family when we got our loan, and we were approved, we had bad credit, but were approved so being our first time with a mortgage we thought it was ok.
We were happy, all was good until we suffered 3 tragic losses of family members in less than a year. The last being my mother and let's just say that her poor planning trickled down.in August we found ourselves without a savings, and behind on our mortgage. I called and spoke with customer service who would only offer to allow us a repayment plan. Which I explained that I could not afford. I offered to make smaller payments to them but she said that they could not accept this. That if I could not make the full payment with the additional amount, then I could not send anything. They would refuse it. Again, being "new" I thought this was correct. I got depressed.
I had lost my Mom, grandmother, and father in law and now I was going to lose my house. I decided to go back to work, put my kids in childcare and try and make it work. It took me 3 months to find a job that I could pay daycare with and have some money to put aside for Countrywide. The entire time I am calling them, they are putting me in for "modifications", repayment plans, and hardship deferrments. ALL denied. I did not understand, and they would not explain anything to me.
In December, we received foreclosure paperwork. I called Countrywide and explained that I had found a job and we could resume payments and could even do the repayment plan. They said no. They told me that it had started into foreclosure and the only way out of that was to pay the past due balance. I sobbed. I was away from my kids, working 60 hours a week and I was still going to lose my house.
I went to a HUD workshop here in my town that was to help avoid foreclosure. It helped, I called Countrywide to see if they could do a modification. This was in December. I told them I had Money to put down on it. The submitted it.in February I called to see what was going on with it. They said that it was denied.
I called every week, every time telling them I had more money aside to pay them. They would reapply for the modification after I told them I had $7000 to pay (this would put us only 3 months behind). They siad it would be 45 days before I would get an answer (This was early March). During this time I received a notice from our Sheriff that we had a sale date of May 2. I lost it. I called them and they told me that my modification had been closed out! I lost it. I cursed this woman, and demanded that she find out why. She said that it must have been closed "Accidentally"! I am scrimping and saving, struggeling to save my home and they are having "accidents!"?
They opened it back up and I called EVERY DAY to check the status. Two days before the sale date I still did not have an answer. I now had $8500 to pay them. I had sold and cashed out everything we had, and saved every penny. I called in and demanded a supervisor. She was surprised that it had gone so long for me, she submitted my modification to the "investors", and the day of the sale it was called off. I was told during this process, that they see that I could afford a payment of $1100 per month for our mortgage based on our income. WELL, when I got the modification paperwork, our payment is now $1700. Our original loan was for $138,000, now with all the fees it is $154,000.
We are struggeling once again and they will not help. We make sure the mortgage is paid, but everything else is behind. This situation has destroyed our credit, and we are not sure what to do. I am scared to try to get a refinance loan because of our situation, we don't qualify for FHA because we did not get behind because of a rate adjusting. We want to keep our home, but at what cost?
We are current on the mortgage,
Jenn
Columbus, Ohio
U.S.A.
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