I am adding my complaint after seeing so many others experiencing the same issues with Countrywide. Someone needs to take note of how this company is ripping people off and start a class action lawsuit against them.
I bought a house in Vancouver, WA. in 2006. My loan was sold to Countrywide within only a few months. Countrywide raised my mortgage payments by almost $300, which was more then I could afford. They didn't have the right to change the terms of my loan!! I called them several times and I was either told someone would call me back, or I was left on hold for 30-40 minutes, or I was talked to as if I was stupid and didn't understand the terms of my loan.
I went to the previous lender who couldn't believe what Countrywide was doing to me. They called Countrywide and sent them a letter telling them they were over-charging me. That didn't work. My mortgage broker and my realtor both did the same thing...Countrywide didn't care. I even filed a complaint with FHA but that didn't get my anywhere either. Basically what it came down to was I would have to find a way to afford a lawyer in order to fight Countrywide.
Now my loan was not a sub-prime loan, I had excellent credit and my loan was a simple FHA loan. I was never behind on my payments, and up until this happened, always had good credit.
I was basically forced out of my home thanks to Countrywide. I couldn't afford the payment they were demanding so after less than 6 months in this house I was forced to put it up for sale. Ridiculous! About that time the market was beginning to slow way down, so now the house I paid too much for couldn't be sold for what I owed on the loan. Great.....
I went to Countrywide and asked them to agree to a short sale. That was a joke! While going through the short sale process Countrywide told me NOT to make my mortgage payments. They said if I did pay them, then that meant that it wasn't a hardship for me and they would deny my request for the short sale. So against my better judgement I didn't pay my mortgage for the 3 months it took Countrywide to accept a short sale. They dinged my credit and sent me foreclosure letters while I sat and watched 3 buyers walk away...all while waiting for Countrywide.
This lender needs to be SHUT DOWN! Now here I am, unable to purchase a home all because Countrywide took 3 months to accept a short sale, which never should have happened anyway because they changed the terms of my loan!
I am so MAD that they did this to me. If I had the means to take Countrywide to court I would do it in a minute! I have all my records from this house and if anyone out there decides to pursure a lawsuit against them, I would LOVE to hear from you!
When I am able to buy another home, I will only buy one if I am assured that my loan will not be sold. Just like long distance carriers, lenders should not be able to buy our loans without our approval.
Lincoln City, Oregon