Countrywide/Full Spectrum Lending, Joe Harris, Branch Manager LIES, DECEIPT AND FRAUD. WE WERE BLINDSIDED WITH HOW LOW COUNTRYWIDE COULD GO. NO SHAME, NO BLAME! Virginia Beach Virginia

In 2003, my husband and I financed our home in North Carolina with Countrywide/Full Spectrum Lending, at an extremely high interest rate of 10.5%.

Initially, we agreed to an interest rate of 8.375% (I kept the signed documents that will verify this fact). However, at closing, the interest rate was switched to 10.5%.

Desperately needing the equity, we agreed to the terms with the understanding that we could refinance to a lower rate in a year.

Countrywide appraised the home in 2003 at $81,000.00. Now that we have applied for refinancing at a rate of 6.135%, Countrywide performed another appraisal with the property's value deflated to $50,000.00. Both appraisers were hired and selected by Countrywide from Landsafe.

It is not possible for this property's value to drop by $30,000.00 in just over a year unless it was near demolished, which is not the case. It is a brick rancher on one acre of land and including a tennis court.

For over 2 months now, we are sick and tired of the lies. Countrywide's position now is to use the $50,000. appraisal, even though their Underwriters approved an appraisal for $81,000.00. You do the math. It does not add up.

If we try to leave for another Lender, there is a prepay penalty. They made dam sure that we would keep paying that 10.5% interest rate.

We've filed complaint with HUD and the Federal Trade Commission. We need a lawyer. The only way to make this comany stand up and pay attention is by hitting them where it hurts most, THE POCKETBOOK.

Alma
Littleton, North Carolina
U.S.A.