Sold my home in Portland It closed late February. Lived in it since 1976. Had to refi it twice to pay medical bills, Once in about 1984 and once in 1998 They of course needed to pay off other bills that were not late so my $36,000. Loan became a $180,000. Homeloan. But we listed it at $195k and it was apprased in 06 for $320.
Listed it in September as my house payments were to rise from $1500. To $2500. A month in December due to escrow acct issues. (No I did not have a ARM it was a 7% 30 yr fixed.)
Had Countrywide loan # xxxxxxxxx
Spent 5 months trying to get a reply from Countrywide about either lowering some of their late fees or getting my "prepayment" penelty dropped. All they wanted to do was to "refi" it again for $280k.
The prepayment penelty is a tool to keep you from re-financing.
I had to refi the loan with Countrywide after the loan from years earlier did not include the agreed upon Property tax payments. They refied the loan in 06 and had included a prepayment clause that was "standard" in 2006 that would lapse in July.
The funds in the escrow acct. Were never paid to the State of Oregon and I owed them over $6000. After two years. The funds in Escrow went to a "Homeowners" insurance policy they forced on me.
Never could find out why they did not pay my Property taxes on the Loan they had in 1998 that they "bought" from someone else, nor the one they created in 2006 to "create" the escrow acct. They did not do as previously agreed. Of course they charged me about $20,000.in closing costs.
Was told by many realtors and escrow people AND Countrywide that as I was selling the home and not doing a refi that any prepayment penelty would be written off in closing.
I receaved a offer for the home in late January for and did not want to put it off tell July as I might loose the sale. Again Countrywide assured me as many others did it was no problem.
Spoke to "Tina" in Loan closing on February 9th and after over a hour on the phone was reassured it would "happen". She requested a letter from me stating that the purchaser of the home was not a relation to me. Which I promptly faxed to the requested number which was a bad# I also hand carried it into a local Countrywide office and they faxed it and I also sent it to 3 other fax numbers and sent hard copys.
The $9000.00 prepayment money was to go to a new home that we could afford due to the economy. We of course did not get it.
After writing more letters I receaved a phone call from the Countrywide Corporate office of the President and after talking with them in Mid-March was told that I would get a written acknowledgement of my latest letter and they would see what could be done.
Of course there never was a reply.
But hey I did get a check for $54.70
We now live in a small moldy cabin with only a wood stove for heat and no septic system.
Thank you Countrywide... May you people all get what you deserve.
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