Mortgage Forum

Mike

Hello everyone, Well here is my CW story. I purchase my home in Sep of 2006. Every thing was going fine until my husband lost his job in 2007. I called CW to see if they could refinance my loan and lower my monthly payment, I was told I did not qualify for a refi. ok so I asked if they could modify my loan because I was having a hard time paying, they told me they couldn't do any thing at that time because all my payments where up to date and advice for me to miss a payment that way they could see I was having a hard time and I would be sent to the modification dept. I made the BIGGEST mistake I could do by listening to them. By the time I wanted to catch up, I was in dept and falling behind even more. I'm 6 moths delinquent now. Finally after going back and forth with CW for about 4 moths I was told that I needed to pay $5,250 in taxes and once that paid I would be directed to the mod. dep. So I paid the taxes on the property. I was then sent to the Mod. Dep where I faxed the hardship letter, proof of income, expense sheet ect. I was told I would be receiving an phone call with their decision in 4 weeks. I couldn't wait so I called at least once a week and spoke to what seems like everyone. When the 4 weeks where up I finally talked to my Mod. Rep and I was told that my income was too high and I could make my regular monthly payments, I told him I couldn't afford it that's why I feel behind in the first place. He asked me to fax a letter stating my situation, expenses, employment ect. and he was going to transfer my file to another Mod. Rep and to call within 48hrs. I did, I spoke to the new rep. and she now tells me my modification request has been denied because my income is not enough...what.. I was just told my income was too high??? She asked me to re-fax my paperwork and call AGAIN within 48hr, I did. I spoke to another rep. that told me my mod. had been denied and I had to pay 30% about $9,000 of my delinquent balance in order for them to help me, or try to modify my loan, because it is not guaranteed. I don't know what to do at this point because I don't have that type of money and even if I did, they don't guarantee anything so how do I really know they will help me lower my payment? I feel so angry yet helpless!! I was finally told today if I don't reply to within 5 working days they will take the necessary actions and my home will enter forcloser. Please HELP me. I dont know what to do. I DONT What to loose my home. Thanks you.