Countrywide Loans
Countrywide LIED to me, now refuses to even TALK to me about refinance or modification!

I initially could only get approved for an ARM loan. When I signed my loan documents, I was assured that my payments would only go up so high. I discussed this with the loan officer when I signed for the loan, explaining that I could only afford the payments I was agreeing to. Countrywide also assured me that if I made all my payments as scheduled and my credit remained the same or improved, I could refinance. Of course, I could not sell or refinance for two years without paying a penalty.

I then took out a second mortgage to pay off debt and for college loans for my family... I still have over 10,000 in equity but doesn't seem to matter to anyone and at this time, my credit score is still in the "good rating". However, I have lost several points for Countrywide running multiple checks on my reports.in addition, the company I signed my second loan with, sold my loan to Countrywide and they immediately jacked my interest rate through the roof!

Then, once the two years was up, I could NOT get refinancing done. No one would refinance.in the meantime, my payments started going up and up and up. I have received offers in the mail and online from Countrywide that I qualify to refinance but when I contact them, they would even discuss it with me! They tell me that if I stop making payments and my home goes into foreclosure, then they can help! So I am being punished for being responsible and making my payments as scheduled! I also suspect that they have every intention of helping me right out of my home and into the shelter for HOMELESS if I miss any payments!

I am trying to contact other companies now to look at refinancing or help with modification due to the new stuff coming out on the assistance that I SHOULD qualify for, but I am still getting the run around and Countrywide won't even really respond to my requests anymore... I am now paying 11% interest on BOTH loans and my orginial loan is scheduled to raise again in JUNE... Oh, yeah, one employee told me I could request a modification, but ONLY if it was approximately 90 days before my loan was due to raise again!

Company: Countrywide Loans
Country: USA
State: California
City: Simi Valley
Site: countrywide.com

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