[CountryLied]

I have a home loan with Countrywide, and started a refinance process in March. It took them forever to get it all going, originally the new loan was going to start June 1st and I would skip the May payment.

So, end of April comes and they finally get me the paperwork and "close" or whatever. As it was so late in April, I asked the representative I'd been working with if I should make the May payment - she says "No, your first payment will be July 1st" so I go on about my life waiting on the new loan to go through.

I hear nothing the entire month of May, and then on June 9th get a letter that my May payment is 30 days past due.

I call up to find out what is going on, and they tell me I need to make the May payment for the loan to fund. I ask why I was not told this until June 9th, they give me no good reason at all, and after much fighting I get them to waive the late fees and send a credit correction and I make the May payment. I am told that having made the May payment the loan would go to underwriting and everything is fine.

I get no calls back, it gets later and later into June, and I start leaving messages for the various people I have spoken to and nobody is calling me back. Finally, on June 30th I get ahold of someone and they promise to call me back and again no call back. So now, July 2nd I am told I would have to make the June payment for the new loan to go through. Despite two full weeks of trying to get ahold of them to verify the information on the new loan, they never call me back, and now I find this out.

So they tell me they can't finish the loan if it is 30 days past due, but I paid the May payment before the June payment was 30 days past due, and they still drug their feet until it was 30 days past due.

What should I do here? I'm so angry at having been lied to not once but twice on what I needed to do to make this work, and both times they refuse to commit to the agreement I made with them on the phone calls to resolve the situation.

[ScottGem]

I don't think you were lied to. I think that they are probably do overloaded and backed up these things are happening.

[CountryLied]

I don't think you were lied to. I think that they are probably do overloaded and backed up these things are happening.

So does that excuse them from any liability or responsibility to honor the arrangements THEY made on the phone with me, not once, but twice? And that they never returned my calls or gave me any updates, and it was only when I would call and demand to speak to someone that I would be told anything.

[froggy7]

This is a hideously bad time to be doing anything with property. However, if you want you could probably cancel the contract and look to refinance with someone else. The downside to that is that the rates have gone up.

[Fr_Chuck]

Just consider this, how hard is it to get hold of them, how hard is it to get a answer, and this is to "get" the loan, what is it going to be like when you have the loan and want some help with a late pay fee, or some incorrect billing, Maybe you should consider that.

[JudyKayTee]

I have a home loan with Countrywide, and started a refinance process in March. It took them forever to get it all going, originally the new loan was going to start June 1st and I would skip the May payment.

So, end of April comes and they finally get me the paperwork and "close" or whatever. As it was so late in April, I asked the representative I'd been working with if I should make the May payment - she says "No, your first payment will be July 1st" so I go on about my life waiting on the new loan to go through.

I hear nothing the entire month of May, and then on June 9th get a letter that my May payment is 30 days past due.

I call up to find out what is going on, and they tell me I need to make the May payment for the loan to fund. I ask why I was not told this until June 9th, they give me no good reason at all, and after much fighting I get them to waive the late fees and send a credit correction and I make the May payment. I am told that having made the May payment the loan would go to underwriting and everything is fine.

I get no calls back, it gets later and later into June, and I start leaving messages for the various people I have spoken to and nobody is calling me back. Finally, on June 30th I get ahold of someone and they promise to call me back and again no call back. So now, July 2nd I am told I would have to make the June payment for the new loan to go through. Despite two full weeks of trying to get ahold of them to verify the information on the new loan, they never call me back, and now I find this out.

So they tell me they can't finish the loan if it is 30 days past due, but I paid the May payment before the June payment was 30 days past due, and they still drug their feet until it was 30 days past due.

What should I do here? I'm so angry at having been lied to not once but twice on what I needed to do to make this work, and both times they refuse to commit to the agreement I made with them on the phone calls to resolve the situation.

So go somewhere else and refinance - banks and mortgage companies are swamped right now because of the economy. Other people have posted problems with Countrywide. I know that's not what you want to hear but it's a possibility.

You aren't tied in with them - go somewhere else if you think you're getting ripped off.

[Fr_Chuck]

Yes if you want some info that will really upset you, do a web search for countrywide mortgage fraud, ( or also do complaints) The search will explain itself well.

[CountryLied]

Just consider this, how hard is it to get hold of them, how hard is it to get a answer, and this is to "get" the loan, what is it going to be like when you have the loan and want some help with a late pay fee, or some incorrect billing, Maybe you should consider that.

I had my original loan with them and they had never caused me any undo hassle before... so this is very surprising to me.

[froggy7]

I just recently finished closing escrow on a house, and I heard the same story from my loan agent, loan processor, escrow agent, and real estate agent... everyone is swamped with foreclosures. Things that used to be done automatically in a day now take multiple phone calls and several days to happen. The only reason my escrow closed on time is because my loan processor (god bless her) spent 4 hours on the phone being passed from person to person at the escrow office until all the missing documentation was hunted down. And it took a lot of phone calls from me and my agent to keep people on track. So, I'm not at all surprised that you're having difficulties with your finance company. If you want this to happen, you are going to have to be very proactive about it.