Country Wide Country Wide Closes Home Equity Credit Line without proper notification, causing bounced check. Simi Valley California

Country Wide has the right to close Home Equity Line of credit at anytime. They did not give us proper notification, they lied about the reason, and they caused a bounced check charge.

The notice arrived by snail mail, to our rural post office. No certification, no phone call. So we had deposited a check before receiving our notice. And they lied about the reason, citing our home had fallen in equity. In reality, talking to customer service, They closed all HELOC loans because BofA bought them out.

Customer service was very friendly, said they would open our account for 3 days. We could not get our check back within 3 days, and we had no more checks. So they tried to open it for longer, but it was not approved. So we are left without the funds to pay month end bills, and with a bounced check charge.

We have two houses with Countrywide, we will do no more business with them. And we will re-fi with someone else as soon as possible. But we wanted to alert others.

William
cedarpines park, California
U.S.A.