• Report: #338456

Complaint Review: Countrywide Financial Corporation

  • Submitted: Mon, June 09, 2008
  • Updated: Fri, June 13, 2008

  • Reported By:Miami Florida
Countrywide Financial Corporation
4500 Park Granada Nationwide U.S.A.

Countrywide Financial Corporation LOAN MODIFICATION SCAM: HOMEOWNER BEWARE CALABASAS CALIFORNINA

*Consumer Comment: Your Not Alone

*Consumer Comment: RE:

*Consumer Comment: RE:

*Consumer Comment: RE:

*Consumer Comment: RE:

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I want to make all homeowners in danger of losing their homes, please watch out for this new scam Countrywide Financial Corp has come up with. My sister has been scammed out of the only money she had to move her family due to the unethical if not illegal practices of this company and its representatives. Like millions of American families trying to keep their homes she was duped by a loan representative given her one last option to keep her home, main reason being accumulated late fees. The only money she had was her savings of which she was holding on to dear life because of the financial situation she is in and being a single mother of two kids +pets she was just holding her breath waiting to see if they would help to keep her home. If not she had to be ready to move into an apartment or hotel depending on the amount of time she had if the loan was not approved. After weeks of stress and headaches she is contacted by a loan rep and told she needed to send portion of what she owed and this part my sister asked her specifically "If I send you this money, you are saying I get to keep my home? the rep tells her "yes" send portion of the money, this is what they want and you get to keep your home. With this statement my sister sent to them the money she was holding on to for any last minute move. Not even a week later, she gets letter stating that they are selling her home and guess what, they kept her money. NOW, she has no money to move anywhere but some rundown motel if possible or go to a shelter. I want to make this company and its unethical practices responsible for their inability to keep their promises and for the heartache they are causing to millions of families trying to keep their homes. PLEASE BEWARE and speak up. MAKE THEM RESPONSIBLE and Let them know that they are not above the law. Their slogan "Achieve and Preserve the Dream of Homeownership. The only thing they are doing is taking the last hope from every woman, man and child and sending them to homeless shelters. They continue to fill their bank accounts, these million dollars CEO's have now figure out another way to destroy the American Dream. I will continue to let everyone I know of this new scam from this #1 Home Lender. This country is in a crises and now they've figure out how to not only take our homes but our last penny also. We as a people have to unite against this giant and bring it to its knees.

Mm7
Miami, Florida
U.S.A.

This report was posted on Ripoff Report on 06/09/2008 10:44 AM and is a permanent record located here: http://www.ripoffreport.com/r/Countrywide-Financial-Corporation/nationwide/Countrywide-Financial-Corporation-LOAN-MODIFICATION-SCAM-HOMEOWNER-BEWARE-CALABASAS-CALIF-338456. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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0Author 5Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Your Not Alone

AUTHOR: Jrcnr - (U.S.A.)

I read your comment and I to understand how you feel. It seems the letter your sister received was probably already in the system to go out. When someone is behind on their payments, it seems the companies system automatically sends out letters based on their protocol. It is my understanding that each lender must follow certain procedures and guidelines when a payment is late by a certain amount of days. There are non-profit and services (profit) that offer their services to prevent homeowners losing their homes... your sister needs to seek out one of these companies.

I personally work for a company (profit) that specializes in mortgage loan modifications... there are definitely options for your sister. The organization that I hear and read a lot about is Hope Now... though the feedback that I hear seems they are a bit overwhelm with the influx of business. You should have your sister research some of the other non-profit organizations that will help assist her to stay in her home. Dont give up... there are definitely options!!
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#2 Consumer Comment

RE:

AUTHOR: John - (U.S.A.)

'If I send you this money, you are saying I get to keep my home? the rep tells her 'yes' send portion of the money,
------------------------
First, this is a bad situation and I agree with you that this was sleazy....BUT...for something this important, it's critically important to get terms like this in writing prior to sending anyone money...Never, ever trust verbal promises over the phone from loan officers and (especially) debt collectors. Verbal promises over the phone are meaningless and cannot be proven....if it's not in writing it's worthless. It would have been best for your sister to have insisted upon written terms prior to sending her money...If they had refused, your sister could have kept her money. It's too late now I guess.

To all who read this, heed this lesson: "Get it in writing."
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#3 Consumer Comment

RE:

AUTHOR: John - (U.S.A.)

'If I send you this money, you are saying I get to keep my home? the rep tells her 'yes' send portion of the money,
------------------------
First, this is a bad situation and I agree with you that this was sleazy....BUT...for something this important, it's critically important to get terms like this in writing prior to sending anyone money...Never, ever trust verbal promises over the phone from loan officers and (especially) debt collectors. Verbal promises over the phone are meaningless and cannot be proven....if it's not in writing it's worthless. It would have been best for your sister to have insisted upon written terms prior to sending her money...If they had refused, your sister could have kept her money. It's too late now I guess.

To all who read this, heed this lesson: "Get it in writing."
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#4 Consumer Comment

RE:

AUTHOR: John - (U.S.A.)

'If I send you this money, you are saying I get to keep my home? the rep tells her 'yes' send portion of the money,
------------------------
First, this is a bad situation and I agree with you that this was sleazy....BUT...for something this important, it's critically important to get terms like this in writing prior to sending anyone money...Never, ever trust verbal promises over the phone from loan officers and (especially) debt collectors. Verbal promises over the phone are meaningless and cannot be proven....if it's not in writing it's worthless. It would have been best for your sister to have insisted upon written terms prior to sending her money...If they had refused, your sister could have kept her money. It's too late now I guess.

To all who read this, heed this lesson: "Get it in writing."
Respond to this report!
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#5 Consumer Comment

RE:

AUTHOR: John - (U.S.A.)

'If I send you this money, you are saying I get to keep my home? the rep tells her 'yes' send portion of the money,
------------------------
First, this is a bad situation and I agree with you that this was sleazy....BUT...for something this important, it's critically important to get terms like this in writing prior to sending anyone money...Never, ever trust verbal promises over the phone from loan officers and (especially) debt collectors. Verbal promises over the phone are meaningless and cannot be proven....if it's not in writing it's worthless. It would have been best for your sister to have insisted upon written terms prior to sending her money...If they had refused, your sister could have kept her money. It's too late now I guess.

To all who read this, heed this lesson: "Get it in writing."
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