• Report: #265735

Complaint Review: Countrywide Home Loans

  • Submitted: Tue, August 07, 2007
  • Updated: Tue, July 28, 2009

  • Reported By:Jacksonville Florida
Countrywide Home Loans
PO Box 660694 Dallas, Texas U.S.A.

Countrywide Home Loans - Countrywide Financial Forced Flood Insurance Placed on Property NOT in Flood Zone; Now in Foreclosure. ripoff Dallas Texas

*Consumer Comment: Ashley Is an expert on everything

*Consumer Comment: Ashley Is an expert on everything

*Consumer Comment: Ashley Is an expert on everything

*Consumer Comment: Problem with your logic

*Author of original report: Update - I won, but still feel screwed.

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Back in March of 2000 Countrywide purchased two loans that I had with Seasons Mortgage. Originally, they were VA Foreclosures.

On and off, starting in May 2002, my payments began being rejected. When I called to find out why, customer services claimed I was not MAKING the payments. When transfered to the loan department, they told me the same thing. When transfered to the collections department, they told me the same thing.

After much arguing, and proving my electronic transfers were going out to them each month, on time, paid in full, I was placed in foreclosure in February of 2003.

In the meantime, I was having a second problem with Countrywide. For peace of mind, I had decided to purchase flood insurance for $221 from Prudential. I received my check back from Prudential with a note that it had been cancelled. I thought I had done something wrong so I purchased flood insurance from a second, and then a third company, each time having it cancelled.

After speaking with the third company, I found out that Countrywide had placed forced flood insurance on this same property for over $1100, so the policies were being cancelled due to being "double insured." I faxed Countrywide a copy of the Elevation Certificate that I received with my VA Closing Papers showing that this property was no longer in a flood zone (not even in a "special" flood zone, meaning the 100 year floods), and telling them to cancel their forced insurance.

They questioned the Certificate from the VA because the "Insurance Maps" from back in 1989 (before these houses were built) showed the area in a "special flood zone." I then faxed copies of the Certification of Compaction, and the FEMA Letter of Map Revision, that I received from Clarson and Associates (the surveyors). The woman in the Countrywide Flood Unit accused me of "making them up" on my computer! I then had Ron Kenholster, the Duval County Developement Manager call her and tell her, that yes, this house was no longer in a special flood zone, but in an "X" Zone, meaning NOT in ANY flood zone.

After much arguing, Countrywide FINALLY canceled their flood insurance with a note on the log that just said "cancelled due to dispute!" Nothing at all about the VA's Elevation Cert, or the Cert of Compaction, or the FEMA LOMR, or the phone call from Ron Kenholster. Just "cancelled due to dispute."

Countrywide, later, re-purchased forced flood insurance AGAIN! I spoke with a woman named Eddie in HUD "RESPA" and she called Countrywide and told them to "cease" placing their forced flood insurance. Countrywide got ahold of the wrong loan (my OTHER loan account that Countrywide had purchased), and had cancelled my Home Owner's Policy! I called to find out why, and they claimed that RESPA had told them to. I called Eddie back and told her what they had said. She said she would take care of it. The forced flood insurance was finally canceled, I was re-instated in MY flood insurance with Hartford.

I went to the durogatory for the foreclosure in Sept 2006, and after proving, again, with statements, and a letter from the electronic payment department of Wescom Credit Union, that all payments were still going out each month, paid in full and on time, but that the payments were being rejected, their lawyer finally found out that this foreclosure was actually due to Countrywide placing forced flood insurance on my account and had raised the amount of the monthly payments.

I went before a judge last month, July 2007. I get to keep the house, and we were told to go to an arbertrator, which we have not done yet. The judge told the Countrywide lawyer that he was NOT to add charges for lawyers fees. However, when I received my first payment schedule, due on Aug 1, they added 5 years on to my loan time, and also added $250 per month on to the payment amount.

I believe that this lawyer is in contempt of court. I believe that the extra time added was to make up for the last five years of "non-payment," but the extra $250 is the lawyer's fees, which would amount to $78 grand over the next 26 years. The loan amount due is actually $77 grand, so the lawyers fees would double the amount due.

I might add that this whole thing has caused an untold amount of losses to me and my business. I am a real estate investor. I purchase old broken down houses, repair them, and resell them. You need to have impeccable credit accounts, and a high FICO score to run my business. I have had to sell properties when they should NOT have been sold, just to have enough money for food and gas. Several times I was in financial crisis, and had to take donations of food from churches, which was degrading and humiliating.

I have lost chances at great investments, because I could not qualify for the loans. I have even had to move to Jacksonville FL because I could not afford $3000 each time to keep flying out from Arizona for derogitories, court appearences etc. etc.

Because of the foreclosure on my credit report, I have also been targeted for identity theft. I have since been cleared of most of these issues, but a bank manager told me that these "smartsters" target accounts in foreclosure because the victim has less believablility, it takes longer to start an investigation, and gives the perp more time to disappear.

You can imagine how much I have aged over the last five years. I feel like I'm 20 years older, and am now prone to having crying and panick attacks. I used to weigh 265 pounds, but am now 185 do to worry and lack of sleep over this whole matter. I feel like I have lost my life, my business, and my home.

My lawyer, says he feels that I am not the only one who is going through all this with Countrywide. If you are a lawyer, and know of something that may be of help to us, please email me at properties@prodigy.net Please, only if you are a lawyer. I can not pay you, but your help would be appreaciated.

Annie
Jacksonville, Florida
U.S.A.

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This report was posted on Ripoff Report on 08/07/2007 05:12 AM and is a permanent record located here: http://www.ripoffreport.com/r/Countrywide-Home-Loans/Dallas-Texas-75266-0694/Countrywide-Home-Loans-Countrywide-Financial-Forced-Flood-Insurance-Placed-on-Property-N-265735. 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 Comment

Ashley Is an expert on everything

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

Sense ashley described what type of work she does, she Is an expert In mortage t.v. bills telephone bills, credit cards satellite directv companies. And she has the nerve to tell them they are all wrong.

And the business Is always right & never make mistakes.
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#2 Consumer Comment

Ashley Is an expert on everything

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

Sense ashley described what type of work she does, she Is an expert In mortage t.v. bills telephone bills, credit cards satellite directv companies. And she has the nerve to tell them they are all wrong.

And the business Is always right & never make mistakes.
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#3 Consumer Comment

Ashley Is an expert on everything

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

Sense ashley described what type of work she does, she Is an expert In mortage t.v. bills telephone bills, credit cards satellite directv companies. And she has the nerve to tell them they are all wrong.

And the business Is always right & never make mistakes.
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#4 Consumer Comment

Problem with your logic

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

The reason your loan has gone up is the lack of payments you have been making.

In addition to have to make up the lat 6 years of payment, you have all of the interest that has accrued over 6 years to make up. That is a LOT of interest. I know on my home loan, which is close in value to yours, I have paid almost 40k in interest over the last 6 years. and remember, interest that is not paid will have interest added to it every year.

So you have interest charged upon interest for every year the interest has carried over.
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#5 Author of original report

Update - I won, but still feel screwed.

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

I won, sort of. Countrywide has to reinstate me in the loan, they have to release me from the foreclosure, they have to release me from the 2 les pendens they filed against me, they can not charge me for lawyers fees or court costs or fines or late charges etc. I don't have to have flood insurance if I don't want to.

When all this started I still owed 26 years of payments. I thought I would be told to just start making payments again, and that I'd be making payments for 26 more years. Makes sense right? Instead, the judge in his infinite wisdom, decided to make me pay for the last 6.5 years that Countrywide has been holding up this case. AND instead of figuring my payments at the original $708 month, they came up with a $950 payment, which included the forced placed flood insurance, that the judge had JUST told us I didn't have to get, because it wasn't required!

This means Countrywide has added $25,000 on to the cost of my loan! So, get this: I have to pay Countrywide $78,000, that's $1000 MORE than the ENTIRE AMOUNT OF THE 30 YEAR LOAN! And, I still owe my original loan amount. HOW IS THAT WINNING???

I have 4 months to come up with the money, and so I have to sell my other investment property (and in this awful market), which means I have to give up my last asset, just to take care of this matter. I won, but they still figured out a way to screw me!
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