• Report: #430670

Complaint Review: Countrywide Home Loans

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  • Submitted: Wed, March 04, 2009
  • Updated: Sun, April 26, 2009

  • Reported By:Fair Oaks California
Countrywide Home Loans
31303 Agoura Road Westlake Village, California U.S.A.

Countrywide Home Loans I begged Countrywide for 2 years to help me lower my payment ($3,300.) NO!! I used all my retirement $ and then it still went to short-sale. I lost it anyway. Westlake Village California

*Consumer Comment: Never use your retirement account

*Author of original report: Countrywide Home Loan ruin retirement!!!! Is there an attorney who will take my case to help recover some of what I lost??

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Countrywide put me into a loan to buy another home (while I still owned a condo that they said would sell quick) it did not. I made payments on both residences which equaled $5000. per month. I was in hopes one or another would sell but the market crashed. For 2 years I tried to do both payments and everyday I contacted Countrywide for help. They refused any help of any kind.

They would not help me. I told them I did not want any cash out just to lower my payment. They told me to sell my car (a 2002 model) and make a half month payment! In the long run I used all of my retirement money to make the payments.

When that money was gone... I now have $1.35 in my retirement account... I had to go into bankruptcy and lost the condo in that action and sold my home in a short sale. The home was worth $400,000 and it went for $320,000 and now I need to pay capital gaines tax on the short sale ... I now have no money to do that with. I now live on my social security.

I wrote and called every department of Countrywide... even the President of Countrywide... begging for them to help me. There was nothing they could do they said. Then Countrywide's President received $38 million as a bonus. So he did not care what happened to me or anyone else.

Not only am I broke, I am humiliated when people in the news say I should have known better.... yes, that is probably so but it doesn't help to solve any of this. And now today in the news those same Countrywide Executives are buying up our homes for penny's and going to continue to make millions while I live on nothing.

Alfe
Fair Oaks, California
U.S.A.

This report was posted on Ripoff Report on 03/04/2009 10:44 AM and is a permanent record located here: http://www.ripoffreport.com/r/Countrywide-Home-Loans/Westlake-Village-California-91361/Countrywide-Home-Loans-I-begged-Countrywide-for-2-years-to-help-me-lower-my-payment-330-430670. 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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REBUTTALS & REPLIES:
0Author 2Consumer 0Employee/Owner
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#1 Consumer Comment

Never use your retirement account

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

Let them have their overpriced house back, it will probably take six months for them to foreclose after you stop making payments, perhaps longer. In the mean time save the money you would have been sending them so you can move into a rental.

Never use your retirement account, it is exempt from judgements.
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#2 Author of original report

Countrywide Home Loan ruin retirement!!!! Is there an attorney who will take my case to help recover some of what I lost??

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

Is there a class-action lawsuit that I can join?
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