Countrywide/BoA - has anyone had any problems?

[anime-chicka]

The first mortgage on our house is through Countrywide, now BoA. For the last couple of months we've been getting conflicting statements with information regarding the payment, etc.

Has anyone had any issues just trying to talk to someone that doesn't treat them like dirt when they call? Everything goes well until I give the rep my account info and all the other identifying information. Then suddenly I get treated like I'm scum under their shoe. Hubby said he's gotten the same treatment.

Maybe it's just me, but I really think that if hubby is getting treated the same way, then I have to wonder of others are having the same issue. One rep told me that I obviously didn't understand what I was doing when I filed for bankruptcy.

On a lighter note, our second mortgage servicer has been good to us.

[lovemy60s]

Countrywide and BofA are the @#$% worst! The account reps are drones and can't answer a straight question and sometimes you are transferred to Pakistan or India and they speak horrible english! The reason we are filing BK 7 is because we cannot get a modification on our home in Las Vegas,Nevada.We are currently $180k upside down on our house,and Countrywide keeps submitting the paperwork and we keep getting denied citing "investors backed out" of purchasing the mortagage.I would rather rent a bigger,nicer home and cheaper for awhile until the market levels out!

[NoMoreRed]

We don't have any problem with Countrywide/BofA......I always know that they will treat me like dirt when I call. LOL

Fought with them for 10 months for a loan modification and was even part of the Attorney Generals settlements and they did nothing for me. Included the house in our BK and walked after discharge. They can have the house. We'll rent a better one for now and we'll buy a better one in a couple of years

[vicmost]

B of A / Cnty Wd suck! The people I've talked with are just data entry clerks with very little knowledge.....It's beyond #$%#$%^&! frustrating to speak with them.

[spidge]

We have a 2nd with CW/BofA and have not payed since December, but they still deny any modification. I was in active proccessing but now my file is inactive as I have not re-sent them my docs. I hope they call this week so I can tell them to go ahead and take the house, but first you need to pay Downey Savings $116,000 more than its worth and then theres the $$ we owe you. I am sure it will go to a collection agency.
I may actually just blurt out a 5% offer to see if they make a counter offer.

[StartingOver08]

Did you see that since Dec 2008 (through March) that BOA has only modified 64000 mortgages across the country? Really does not sound like a lot given the scope of their business.

There is an interesting article here:

May 25 (Bloomberg) -- Bank of America Corp., the largest U.S. bank, modified more than 64,000 home loans for borrowers between December and March after settling charges over predatory lending in an agreement with 42 states.

The modifications will save borrowers $823.5 million in principal and interest, according to a summary report provided to Bloomberg News today by bank spokesman Dan Frahm. The lender has offered to modify loans with lower interest rates for 100,300 borrowers, the report said.

Bank of America in July acquired Countrywide Financial Corp., formerly the largest U.S. home lender, for $2.5 billion to complement its leading positions in bank deposits and credit- card lending. Countrywide’s lending practices prompted investigations by attorneys general in California, Florida and other states, leading to an October settlement in which Bank of America agreed to modifications that could save 390,000 borrowers as much as $8.4 billion.

Bank of America cited surging demand for mortgage loan refinancings for helping offset higher credit costs during the first quarter, when the bank reported a $4.25 billion profit. “Our mortgage business is on fire, in a positive sense,” Chief Executive Officer Kenneth Lewis said in May 8 interview.

The modification program targets subprime loans typically made to customers with the weakest credit histories and adjustable-rate mortgages that enable borrowers to defer principal payments, typically called “pay-option ARMs.”

Bank of America owns 12 percent of the loans that may be modified, with investors holding the balance. Investors are suing Bank of America over who should pay for the modifications in a case pending in U.S. District Court for the Southern District of New York.
By David Mildenberg

http://www.bloomberg.com/apps/news?pid=20601087&sid=aPPh1_faHRH0&refer=home

[anime-chicka]

Wow, talk about necroing a post.

My issue isn't with modification (would have mentioned it if that were the case). It's just talking to someone, in general. Just a rational human being to ask a question. For example, we got a notice that our payment was to go down in May. Our May statement came and it was the same amount as the previous month. I called to get clarification (was it as mistake, etc.?). All is fine when I call, but the moment I give my account number and all the other pertinent information, the rep transforms into a beast that makes me wish I'd never been born.