• Report: #235332

Complaint Review: Countrywide Home Loans

  • Submitted: Fri, February 09, 2007
  • Updated: Sat, February 10, 2007

  • Reported By:Phoenix Arizona
Countrywide Home Loans
4500 Park Granada Calabasas, California U.S.A.
  • Phone: 818-225-3000
  • Web:
  • Category: Loans

Countrywide Home Loans, Countrywide Financial Corporation Liars & Thieves Ripoff Calabasas California

*Consumer Suggestion: do not use countrywide

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We have some equity in our home. We needed some cash so decided to refinance, and had an appraisal scheduled. Our loan is through Countrywide, but due to advertising on their website I decided to call them.

Their Loan Officer assured me - due to my great credit scores - a Home Equity Line of Credit would be a faster & more cost-effective avenue to free up some cash. After interviewing me he also stated I was extremely well-qualified to receive the funds.

Below is the email I sent Countrywide after we were denied. Countrywide appears to have an honorable employee, so I have replaced her name with ****.

Daniel,
When we first talked I told you I was an Independent Contractor & that I subcontracted to two companies. I also told you I receive 1099 Tax Forms, which should have further confirmed my self-employment status.

I was then shuttled to ****, the Processor; she had been informed of none of this.

We went over my work history, but that, too, was not relayed to ****.

Prior to talking to you we had been ready to re-finance our house, but because of what you said, I brought that to a halt and believed Countrywide would come through with a Home Equity Line of Credit - which I learned today isn't going to happen.

Thanks to you good folks I have made promises I may not be able to keep and a solid week of my time has been wasted, AND due to conversations with ****, my cell phone bill has now increased.
Also, Countrywide has a non-refundable $35.00 of our money, money that could have been spent elsewhere.

I am a widower with a 16-year-old son and am not happy.

I hope you can sleep at night

Bruce
Phoenix, Arizona
U.S.A.

This report was posted on Ripoff Report on 02/09/2007 03:46 PM and is a permanent record located here: http://www.ripoffreport.com/r/Countrywide-Home-Loans/Calabasas-California-91302/Countrywide-Home-Loans-Countrywide-Financial-Corporation-Liars-Thieves-Ripoff-Calabasas-235332. 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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#1 Consumer Suggestion

do not use countrywide

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

First off get an independant appraisal it will cost you $250 to $300 know what your house is worth. There is a lot of appraisal fraud out there. Two do not use a sub-prime lender, go to your bank with the 1099's if you can't get a loan then so be it. Sub-prime lending spells TROUBLE.
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