I am a Realtor in Texas with a military home seller client who got behind in house payments to Countrywide Mortgage Co. due to huge payment increase resulting from improperly escrowed property taxes. The owners tried to sell the house but market was declining and they could not sell it in spite of listing it on MLS. They got orders to Germany and had to go.
She has since received orders to serve our country at war in Iraq. Soldiers and Sailors Act does not protect her because she and her husband bought the house after she joined the army. She has two small children. As the new Realtor, I relisted the house in January and in spite of repeated efforts, and I mean I tried really really often to reach someone at CW, I could not get passed square one.
Repeatedly, the person answering the phone would try to connect me to negotiator, fail, and promise to send an email request for the negotiator to call me. Sometimes I even got the phone answerer to put "urgent' on the email. Of course no one called. I am now into the fifth month of the Countrywide dance and no one has been of much help.
The foreclosure is set for this coming Tuesday. Understand that I have had a fair market value offer on the table since March. If CW had accepted this offer, their first loan would probably have been paid off. But no, CW is demaning a fifteen thousand dollars higher offer.
I have sent them a full appraisal, an interior BPO, and proof of comps until I am blue in the face. No one will even acknowledge receiving them. The only answer I get is that I have to come up with a ridiculously high offer if I want to stop the foreclosure. My experience has been just unbelievable. I am completely convinced that there is so much CW does not want the public to know about what is really going on.
I think CW cannot provide proper loan docs which a title co. must have before providing title insurance to new buyer. I think this may be happening across the country causing incredible heartache and suffering. Whatever the problem, I know without a shadow of a doubt, that CW does not care a bit. Remember, dear reader, CW is no longer owned by CW. Remember that CW, aka Bank of America, no longer owns the loans.
San Antonio, Texas