I had a family crisis and had to take a second mortgage on my home. Ater the second mortgage about a year or so later I began having financial difficulties and went to Countruwide for assistance, I got none.
I did my own research to find alternatives for assistance, I came across information about a short sale. I contacted Countrywide to inquire about a short sale, because I did not want to lose my home to foreclosure. They did not help with much information at all.
I filled out all the necessary information they requested regarding my finances and my job. They approved the home for a short sale and advised me that while in a short sale status they would not take payments on the home, this was in March. What they did not tell me at the time is that they were continuing to charge late fees and penalties.
In the mean time I have listed the home for sale with a Real Estate Agent, and have received a contract on the home. So, now I'm waiting for Countrywide to accept or deny the offer from the buyer. They sent an Appraiser to the home and appraised the value of the property quite significantly lower than what the homes in the community had been selling for.
So, I listed the home at the appraisal price. Countrywide would not give assistance to the buyer and would not allow me too either, so homes that were selling for $8-$10,000 more in price, were being sold and my home was sitting and waiting.
Whatever process they go through took so long, about 60-65 days that the buyer became impatient and wanted out of the contract. Which they had a right to do because in their offer they asked for closing help, countrywide refused any.
In the mean time, it's now August, now mind you I have been in contact with Countrywide several times a month, eah month while this is in process. So, the buyer backs out of the contract. I contact Countrywide and they tell me that because I don't have a contract on the home, it is no longer considered to be in a short sale status.
Now mind you, back in March they wouldn't take my payments. In August while speaking to them after the contract is dead, they tell me oh, because there is no contract, your home is no longer in a short sale and we will foreclose on your home if you don't make a payment.
At this point I am so angry because, none of this was explained to me in the beginning or at any other point in the process. It has been six months, and I was never once told any of this.
Thank GOD I had enough sense to keep the money in the bank, or I would have lost my home to foreclosure. They also at this point told me that they would not accept partial payment, it must be paid in full or the money would just sit in some floating account, and I would have to call them to find out if they have received the payment and ask them to apply the funds once all the funds were there, but they could still start foreclosure procedures.
I was so angry with Countrywide I wanted to tell them take their house and shove-it, you know where.
I honestly believe, that because we are in an economic crisis, Countrywide receive incentives from the government for every foreclosure, or they would do more to help homeowners keep their homes.
Once I sell this home I honestly don't want this experience again. This is for the birds.
I wish my job was not dependent upon my credit, I would surely let Countrywide have their home.