When Countrywide was our mtg. Company (B of A took over Countrywide and is now our mtg, holder), they ripped us off in many ways as far as I am concerned! 1.) They added the $1,500 MIP amount to our original loan amount and then continued to take a monthly MIP payment out of escrow account for almost 12 years and every time I would contact them in regard to this the CSR would inform me that they would review our account and get back to me. That monthly MIP payment we made to Countrywide for all those years added up to thousands of dollars!
Well, finally I received an answer of when the MIP payment was going to be dropped and she told me 06 but that did not help any because Bank of America took them over (I believe B of A dropped the MIP payment from our account-per a CSR but they have been updated the online accounts and I have not been able to get into my account for over a week).
We purchased our place on 03/23/1998 and Countrywide took out a minimum of $23.00 monthly (after 12 years) but it started out at over $30.00 a month (if I recollect correctly). The amount of money Countrywide pocketed from just our account is ridiculous I cannot imagine how many others were taken as well.
When we purchased this place, we went through Pioneer Title in Benson, Arizona and if anyone has gone through the hassle of trying to buy a place you know the paperwork involved and you tend to trust the title company to be honest and straight forward but not this company.
They marked on the paperwork (03/23/1998) that the place we were in the process of purchasing was a Single-family residence home (because I told the realtor that I would not purchase the place without it being a Single-family residence home because we would lose value in it if it was not).
Then after many years, I had to contact Pioneer Title because we were having a very difficult time trying to refinance (with Countrywide and their subsidiary company not to mention other mtg. Companies which forced us into bankruptcy in 2005!
Because Countrywide said our debt to income ratio was too high well no kidding that was why I was trying to refinance so our debt to income ratio would not be too high and if they would have refinanced us not to mention we had excellent credit at the time and never had a late payment ever we would not have had to go bankrupt) and I asked the lady if our home was in fact a Single-family home residence.
I had to explain to Pioneer Title that our place is a pre-manufactured home affixed to a VA foundation and we pay real property taxes so it should be classified as a Single-family residence home but she told me No, that our paperwork was incorrect and it was a mistake and that the Single-family residence never should have been marked. So, I asked Now what because we are in quite a mess. Well, it did not matter to her and there was nothing she could do!
I found out later that the lady who processed our loan at Pioneer Title was the realtors girlfriend I wonder if that had anything to do with it?!
The realtor who sold us this house was and is about as crooked as could be a week after we bought the place, the pump to the well went out so we had to come up with another $1,250.00 after buying the place not to mention going a week without water (this was not the first or last time we went without water either), then in August our well dried up which burnt out the pump and we had to go SIX MONTHS without running water because we did not have the money to have it deepened and replaced.
During all of this mess, we found out that the well was never changed to our name when we purchased the place and on the mortgage papers the realtor wrote down that the well was 300 deep but he failed to inform us that the casing only went to 235 which is what caused our well to dry up because it collapsed and then the pump to burn up.
This ended up costing us over $6,000.00 (which we had to borrow from my mother-in-law) (which we shared the expense with our neighbor because we are on a shared well) and no running water for six months has anyone tried to live without running water for six months with two children and a disabled husband (he is a victim of a drunk driver). NOT FUN!!!
Countrywide was also aware that the place we were purchasing did not have any cooling system have you ever tried to live in Arizona during the summer without any type of cooling system! So, the realtor agreed to put in a swamp cooler to satisfy Countrywide to finish up the deal but the cooler was not even large enough to cool the living room which we let go because we had plans to put in an A/C unit eventually but how do these individuals/companies get away with misleading, lying, and stealing from hard working people just so they can line their own pockets!!!
I know we could have paid to have the house inspected but we were tapped out just trying to buy the place and that reminds me the electrical in this place was so screwed up and still is and I know the realtor and buyer were aware of all of this because the realtor did state to me Now, you are aware that I represent the seller and not the buyer, correct?
If I would have known what that meant back when we purchased this place, I would have told all of them to go suck a big one because now this place is in desperate need of repairs and with my husband disabled and now I am unemployed we do not have the means to keep it up the way I would like!
Couldnt be because we have sunk soooo much money into burnt up pumps yes PUMPS replacing leech lines, and deepening the well - could it which leaves hardly any extra money to do what we would like to do with this place and to refinance with cash out so we can fix up the place well - that is another joke!
This was our first home purchase in the country and yes, I know that maybe we should have researched certain things first but I knew the person selling the place so I thought I could trust him I thought the realtor was obligated to reveal certain issues that were wrong with the place before we purchased it!
I thought the Title Company was obligated to be honest and I thought the lender would be honest WoW were we wrong! We got screwed ever which way - but loose and this has been a difficult lesson to learn so beware buyers and homeowners!
I could go on and on about everything we have gone through just to have our American Dream of owning a home but I am not sure I will even be allowed to submit as much as I have written!
I honestly believe that there needs to be stricter policies, laws, etc. To help people from getting screwed from mortgage companies, dishonest realtors, dishonest title companies, etc. - so when will anything be accomplished to help the working class people of America to establish and preserve their dreams instead of ripping it all from underneath them!
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