We are having serious issues with Coutrywide. We purchased a home in Angier NC in December with what we thought was a fixed rate mortgage. We got to the closing table and it was an ARM with nothing escrowed but the payments were ok and they assured us we would be able to refinance in two years with no problems. My husband was laid off in August I called them and was told they couldn't help us until he was working again. He went to work for a temp service (he's a truck driver) making next to nothing. I called them back and they refered us to their HOPE department for a forebarence. (At this point we were only a month behind.) The temp service isn't an every day thing so of course we were getting further and further behind. Finally in December he moved up to VA with my folks and found work within a day. Great, the only problem was he was now three hours away.
I called Countrywide and told them he was working again, and asked how to catch everything up. They gave me a list of things to fax them for a loan modification and told me to send them what I could as an act of good faith. We sent them $670 (our payment was $740) which they kept. I told them that we would be putting the house on the market since there was no way he could work in one place while we lived in another. They said fine to still go ahead with the loan modification. I sent everything in to have them send back a new loan packet wanting $2200 to modify the loan and then the payments would be $1040 a month! I told them there was no way we could ever afford that. At that point we got a letter saying they would be adding escrow to our account for an additional $240 a month.
At this point the house was on the market and we had a FULL PRICE offer. I call to get the pay off and it is $4000 more that we owe... An additional interest penalty is what we were told. We said okay, make it a short sale that way they get everything but the $3300 of the interest penalty. They said fine but it will be 45 days before they could even review it for a short sale. The buyers walked. We turned around and got another offer, much less of course, and sent it over to them.
So far they have lost the packet twice, won't talk to me when I call (I get hung up on after entering the account number at least two or three times before someone will even speak to me) and now it has been 30 days since they received the second offer (which expires on the 15th of April—they got it March 10TH!) I spoke to someone in the short sale department today and was told she would escalate it so the apprasial can be done but she didn't know when someone would be assigned to do the work out on it.
I feel like they are intentionally dragging their feet on this. We haven't paid them since December so we are now a total of six months behind and we have not received one shred of mail from them. No notice of acceleration or default, nothing! We have had two offers on the property within a month of listing it and they could care less. Is this legal? Can they just take their sweet old time so that the buyers walk again? Do I have any recourse against them? They have got to be the most deceptive lending company out there!
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