Our adjustable rate home loan was purchased by Countrywide. Since they took over our mortgage we have had nothing but problems. First our payments increased without explanation. We have called and called and everyone we spoke with gives a different reason. Then, we fell behind because I was out of work and my husband is a roofing salesman and his work has been very slow so he is not making the money he made last year. We called and asked for a Loan Modification. Before we could "qualify" we had to pay $6,000. To get "caught up". We did so. Then we recieved our modification papers. The next day, we were served with foreclosure papers. So once again, we called Countrywide. They told US to call the attorney and let them know that it was a mistake because we were having our loan modified. We did that. Since they "modified" our loan, our payments have increased about $400.00 a month. Now they also added fees and all kinds of other things, that of course, cannot be explained onto the total amount of the loan, aprox. $10,000. Worth of fees. I would like to get a calss action started. Our interest rate is nearly 10% and they have said they will raise it to 15%. That is absurd. The state of Florida sued Countrywide and they WERE supposed to lowed our interest rate so that our monthly payments are at most 32%of our income. They are now more that 50% of our income. And we are the ones suffering.
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