Usacomplaints.com » Education & Science » Complaint / Review: Countrywide Home Loans - Countrywide called and said we were in foreclosure and if we did not pay $5500 within 7 days we would lose our home. We were missing $62.00 from a payment. Ripoff. #219668

Complaint / Review
Countrywide Home Loans
Countrywide called and said we were in foreclosure and if we did not pay $5500 within 7 days we would lose our home. We were missing $62.00 from a payment. Ripoff

On April 4 Countrywide called and said we were being foreclosed on because we were missing $62.00 from our January payment. I asked why they had not contacted us regardin this and they said it was not their responsiblity. Today I contacted a lawyer. This has been the most stressful experience I have ever went through. As a matter of fact, it almost ended our marriage because of this. They held February's payment in suspense and according to our mortgage contract they we not able to do so. Then they proceeded to tell me that we would need to ask for a reinstatement of our loan with them. On the day I got the figure of the reinstatement it was for $5500.00. They would credit the "partial" payment from January and they would also credit the payment they were holding in suspense. We cashed in an IRA and paid the balance immediately. I spoke with someone everyday up to the day that our reinstatement figure was good for. I received the reinstatement figure on the 10th and it was to be paid in full by the 18th. I tracked the whole thing to the time it was delivered to a desk in their offices. They waited right up to the 18th to post the amount. We never received on piece of paper that stated we were in default or that our home was up for foreclosure. We owed $150,000.00 our home is worth $280,000.00. I am beginning to wonder if they don't do this so that they can make some extra money. Needless to say, May one came and went and we did not recieve a statement to make the payment that was due on the first. We called Countrywide and they proceeded to tell us that they sold the loan to another company. We received today a letter from them dated April 10 that our loan was being purchased by a different company. OK so that is dated April 10 today is May 2 and the mortgage was due yesterday. Needless to say the payment has gone out to the other company, but they do not have any information regarding the fact that they have our loan. They don't know. So are we going to be out another $1100.00 because Countrywide pulled another fast one. Well, I had enough and filed a lawsuit today. We do not have an escrow account and according to their contract they can not hold a payment in suspension they must apply any amount sent to them, well than what did they do with the payments that they held in suspension.
Needless to say, our credit is now junk and I am a college graduate who is furthering to a masters degree in law and know that what they have done is illegal, but in the same sense did not want to take any chance that we would lose our home so we paid what they demanded. Again, we did so without any paperwork. We still have none saying we would be foreclosed on.
I discourage anyone from taking out a loan with the name Countrywide Home Loans on it. To our misfortune we have a second mortgage with them and now that our credit is a wreck we will be completely unable to get that one out of their hands. Talk about them thinking they are Goliath, they really do, those of us that they have done this to need to rise up, it seems there my be a class action lawsuit here.


Offender: Countrywide Home Loans

Country: USA   State: Wisconsin   City: Bryant
Address: W7626 Edison Road
Phone: 7156107394

Category: Education & Science

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