Common story, have an ARM loan, was hoping to 'freeze' the rate for a while. Started calling CW in April (rate was to reset August). No lates, just anticipating a crunch when my payment was scheduled to go up $400 per month.
After a dozen calls, and 11, oh, 'noone has worked your account yet', I get a loan modification package in the mail mid Aug
Instead of my payment going up 400, it went up 350. Not great, but $50 is $50. So I signed and returned the papers the same day (this was mid-Aug)
TODAY, I awake to a home inspector poking around my house and giving me a card saying to contact Countrywide about my loan.
I call CW and am told I am delinquent and they hadn't rec'ed a payment since July. NOT TRUE, I have paid the new loan amt, per the modification since August. I was also advised I had nearly 1K in 'late fees' and have been reported to the credit bureau with a 60 late.
Upon further investigation they found, I do have a loan mod, but it hasn't been 'worked' yet, they do see that I have nearly 6K listed as 'partial payments' (since I did not pay the plus $400, but the plus $350) and they don't accept partial payments.
After explaining yet again, that was NOT A PARTIAL PAYMENT and I wanted those payments posted to my account, my credit bureau updated and the fees refunded, I was basically told, they would 'try' to do that once the modification had been 'worked'
They have had this modification for OVER 2 months now... Took me 6 months to get it in the mail. Now I have people coming to my home for an inspection!
This is a complete outrage, although I may not have had the best credit when I purchased this house, I have never missed a payment and I can afford the payments. There is absolutely no reason for this harassment.
Filed a complaint with the BBB... I suggest you do the same!
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