Countrywide Home Loans
Messed up 'rate freeze' won't post my payments, reported to credit bureau as past due

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!

Company: Countrywide Home Loans
Country: USA
State: West Virginia
City: Falling Waters
Site: www.countrywide.com

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