Countrywide Mortgages Countrywide Countrywide, Full Spetrum Countrywide, Full Spectrum COUNTRYWIDE DESTROYED OUR CREDIT LIES! LIES! LIES! Ripoff Shelton Connecticut

We own a 2-family in Shelton. I went to Norwalk's Countrywide office and said "Could I rent out my 2-family and buy another house?" We went thru the numbers and everything looked great! Our credit was 623. We were to refinance the 2-family and put the money down on the single family in Norwalk. GFE after GFE, wrong! I was told not to worry, all was fine. The loan officer emailed me, so I had it in writing, what my new payment on the 2-fam would. We went to the closing the next day and the payment was $400 or $500 more! We walked away. When I asked why the drastric change, my answer was "the bank's margin changed" Lie. After all this, we released the mort. contingency on the single family and HAD to buy the new house or be sued. I was told for the new house, my payment would be $2,500, then $2,700, then $2,800 THEN, no money down, then oh we're going to take your $8,000 for discount points to get you to the $2,800! Then "Oh, I thought you understood, you have an 80/20 loan and $2,800 is only 80%, there is another 20% for another $1,000!" Total loan is $2,850 80% and $950 20%, about $4,000 a month for one house; $6,000 for both Per Month! I knew the loan was 80/20, I assumed (silly me), when I asked what my payment would be that he would tell me the "full" payment (100%) and not a partial (what was I thinking). He played me like a fiddle. We didn't want the house for that payment, but our attorney advised us to go thru with it, because the legalities could be substantial if didn't proceed. We bought the house and with the 2-fam rented, we moved in (aug 2006). With a total of $6,000 a month for both houses, we are now in Foreclosure. So many more lies to this story, like "oh our underwriters in Arizona are working on it" There were no underwriters in Arizon, it was a way to stall for more time, which angered the other side and who pushed us into release of the mort. cont. I wish we had not released it and let the house go, but now our credit is going down the tubes, and we are in foreclosure. Countrywide sold us a house we clearly could not afford, but lead us to believe everything was fine. I have to drag my 7 yr old out of this new house and into an apt .. I think .. we're still trying to figure out where to go from here. My closing attorney does not handle cases like this. He only does simply closings, so I would love to file suit against Countrywide. These practices can't be legal!??? The mortgage officer remarked "I love your new house, its perfect for me and my finance" I guess he plans to pick it up. This foreclosure will follow us for years, we're so upset. They gave us a 100% finance on $435K, With A 3 Yr Pre-Pay to boot! So I can't even sell it thru a realtor, not enough equity. One day we were fine, the next day our life/credit is upside down. Thank you Countrywide! P.S. I sell real estate on the side and we had a Countrywide rep. in our office doing all our loans. My broker had to kick them out of the office because every closing the payment was not as promised, he warned me not to use them, but I had in the past and it was okay. Not sure whats going on now, but they are scamming people all over for sure! XXXXXX@XXXXX.com

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Sue
Norwalk, Connecticut
Canada

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