http://www.bankrate.com/brm/news/mtg/20081...-a1.asp?caret=4


Corporate owner:
Bank of America.

Department:
Home Retention Division.

Contact:
Call the customer service telephone number on your loan statement.
Call (800) 669-6607.
Web site: www.homebycountrywide.com.

Noted qualifications:
Proven financial hardship.

Target debt-to-income (DTI) ratio: 34 percent.

Options:
Temporary forbearance.
Repayment plan for missed payments.
Interest rate reduction.
Extension of loan term.
Re-amortization of loan balance.
Foreclosure stay.
Refinancing.
Short sale.
Deed in lieu of foreclosure.


Letters:
Letters are being sent to borrowers who are 60 days delinquent or who are deemed likely to become delinquent based on a computer model that crunches the borrower's credit score, payment history, debt-to-income ratio, home value, interest rate reset and other factors. If you don't get a letter, that doesn't necessarily mean you won't qualify.



https://customers.countrywide.com/secure/FH...rt_login254.asp

Opinion needed: I've got an old Countrywide mortgage that went 30 days late during refinancing (they dropped the program I was refinancing with over the weekend). I ended up refinancing with someone else.

Would you think that they'd take a goodwill at the location you provided here?

I have a Countrywide mortgage. Last year I was late on payments due to loss of employment. I spent 6 hours on the phone and 3 hours faxing paperwork. No one who spoke to me new how to help. They told me to make sure I stated that I made very little money and that is why I needed help. What did I get in the mail, a letter saying that I did not make enough money to qualify for financial hardship. Please, please, do not try and work something out with them. Go to your nearst county home assistance program and let them help you. The HUD website has lists for every town in the US. Do not try to do this on your own. They have made my life absolutely miserable. I now owe a second mortgage back to the state of Pennsylvania plus over $800 in fees to get this assistance. Countrywide states that they do investigtive work to make sure you still reside at your property. Who foots the bill? You! Please be very careful of this company they have an extremely bad reputation.

So unlike penfed there is nothing other than a refi for those of us who are on time and didn't buy above our head.... sucky!!!

Basically I got hosed by my mortgage broker because I was in a tight spot... she didn't bother responding to me on rates when I asked many times for a lock in rate for the day... she finally managed to tell me what they were when I HAD to lock in... (or else I would have missed my closing window)... and I ended up w/7.125 (would have been 7.25 but the rates dropped day of closing and the bank buying the loan called the lawyer and told him to redraw it at 7.125).... anyways I would really and truly love to drop into a 4.75 or 4.5... or even 5 for that matter.... Anyone know of a bank that will refi w/less than 6 mos or a year of seasoning... I closed last Nov!

My loan has always been serviced by Countrywide but recently got a welcome letter from Bank of America stating they are taking over.
Should I send letters to Countrywide or Bank of America or both? I am trying to get a 6-12 month forebarence to get back on track. My wife had to stop working from Bed rest and is on maternity leave until November so with only my income we can't pay our bills every month. Any suggestions? FYI our loan is over $729K 1st mortgage and i know a loan modification is not possible. We just need some delayed payments until we can get back on our feet.

I am so confused! I changed jobs three years ago and got out of the Real Estate business and started teaching. My 40k a year can't handle this w/ one child in college and I'm working on my doctorate myself to try to make more money in the future. My head is under water and I just don't know what to do. I took a big pay cut to be there for my kids and plus the RE market was so slow. Although I don't regret my decision, I don't know what to do. I knew my ARM would adjust so I tried to be proactive.

I went through NACA almost two years ago to get a refinance before my rate increased. My home wouldn't appraise for high enough due to foreclosures in my neighborhood. So we decided to move ahead w/ a modification.I can not make my mortgage payment now. The ARM loan has gone twice to nearly $1900 from $1400. I owe $156,000 on my home and am in negative equity.

When the company was Countrywide, they proposed a reduction to $700 a month for 10 years, NACA refused this offer and wanted a permanent solution. This was 10/18/08. This would have provided some relief for quite a while, until I began making more money as I receive a 6k /yr increase once I complete my degree in a year.

Now a year later I am still waiting. In the meantime, my husband's company closed and he has been on unemployment since January. BOA won't approve a modification bc unemployment is not stable. NACA is saying they may do a forbearance.My husband can't find a job and I am going crazy. I don't know what to do here.

Part of me wants to walk away, or do a Deed in lieu of Foreclosure or something or should I just wait? Any advice....I'm Lost!!!