Reaffirming Countrywide Home Loan BKr's....

[CPO]

Why won't they sign reaffirmation agreements? I thought you had to reaffirm the mortgage or they could foreclose?

That is what the customer service representative told me was their policy...who knows if that is correct...

I have submitted an intent to reaffirm with my petition.

Apparently, nobody seems to be "required" to reaffirm in this age of the new law. Seems kinda weird, but many are not reaffirming on both sides, creditors and debtors.

I live in Texas, which has a substancial homestead law...my big worry is that the Trustee would try to take the house...but it's not possible at this point.

Hey, CW doesn't want to reaffirm? OK...just lets me walk at my leisure. Same with Ford.

We shall see what really happens as my petition advances through the court.

I'll keep everybody informed.

*Update* I just called Countrywide again, and recorded the call one more time. The customer service representative in the bankruptcy department, who was very nice by the way, reaffirmed (no pun intended) my previous conversation.

"CW does not reaffirm mortgages of any type. As long as you remain current on your mortgage, they have no interest in foreclosing."

That's on record, on a phone recording. So, I'm satisfied, and it means I can walk when and if I need too. I think it's fine.

CPO

[JasonK94Z]

Thats good to hear. We have CW also on our house. My first appt with attny is this Friday, so I guess I'm about to be dealing with the same thing soon.

[BKTango]

I had the same thing happen with my mortgage company. We started out with Washington Mutual and our lawyer sent the reaffirmation papers to their attorney as per their request. They never filed them with the court, (as we later found out AFTER our cased was closed) but in the middle of the bk after our assumed reaffirmation with WM ...they sold out to Wells Fargo. Get discharged and closed then find out they above. I contacted Wells Fargo too many times to mention, recorded the calls, and went into one of the local branches....they said the same thing. They don't really "honor", "force" or like to bother with reaffirmations. You have to force them to. I was told as long as we are current we are fine and I was even told by at least 7 different folks that if I am to be late just to call first. I pay every month in person at least 10 days before the due date, I don't even let it go into the grace period lol. I plan to start doubling the payment soon just to get it paid off sooner. I really have no idea who really enforces the new law.

[BKwhopperJr]

Maybe we were just lucky, but Countrywide never stopped our billing statements, although our atty said that it "might" happen. Dunno about internet access though - I'm still old fashioned and prefer a paper trail, so I've never tried to access our account via internet.

Being somewhat paranoid, however, I did send all payments certified/return receipt - just for peace of mind until we were discharged. I even went so far as to send them overnight if we were cutting it really close to the first of the month. (With the "ride-through" option, our atty advised to never be even a day late until we were discharged.)

Never had any trouble with them, despite NOT reaffirming with them ("old law" filing). Hopefully your experience will be similar.

I thought I was "lucky" too. BK discharge Jan 08, been making online pmts just fine, same as ever....

...until today. Went online, as blocked out, called C-wide, was routed to their BK dept...and they say "we have just been notified of your BK filing, so online access is denied until discharge". After 1/2 hr arguing that BK is ALREADY discharged, they say nothing they can do until the "system" shows that. ARGG.

Regardless, my point is that I "thought" I had no probs with Cwide, but 7 months after discharge, now there may be problems.

They said I would now receive mailed "informational statements" until discharge, and that I can pay by phone at no charge/no fees "while in BK". So, I was able to pay by phone, no problem. BK dept phone # is 800-669-5224.

This whole thing makes me VERY nervous, their delayed/incorrect information and all, so I'm now watching Cwide like a hawk.

I also sent an email explaining the situation, to my Trustee's office. I've heard this is a good idea, kind of give them a heads-up, in case anything get wierd with Cwide. Around the country, Trustees are aggresively pursuing any offences by home lenders. My Trustee even mentioned that during my 341 meeting last year. Cwide has had problems with justice dept probes this year, so watch/document every move Cwide makes with you, and let your Trustee's office know about it (go direct to your trustee, not your lawyer. After your discharge, the trustee is "on your side" with regard to any lender shenanigans).

[duplantisjj]

I have CW mortgage too. And about 1 week after filing was allowed to logon to my online account but not allowed to pay bills online with CW. I am recieving no mailed statements and can't even access online statements or anything else online other than the main screen.

I paid my 2nd CW mortgage with my banks' online bill pay function and have my 1st mortgage note scheduled to pay in August. Just kind of sucks that I can't even see how much the payment is supposed to be, since these can fluctuate depending on taxes, escrow adjustmenst, etc. I've never missed a payment or been late for 3 years, you'd think they would at least keep the the online pay function alive....

Maybe I should call that 800 number and at least get a statement....

[Frogge]

I'm 2 months behind as of tomorrow on my CW mortgage (old home). We got the notice of default in the mail the other day giving us to 8/16 to resolve the account. I logged onto the site today and was not allowed to proceed into the account info screen until I had answered mandatory questions about my missed payments-- and if I did or did NOT intend to send a payment(s) today, and had to give a reason, which was a drop-down box of multiple choice questions (illness in family, job loss, too many other financial obligations, or nothing) I left it unchecked and warning msgs popped up "this info is from a debt collector" .. "please be advised you may not be able to access all your info" etc.. but ultimately I got to see all the info.

I noticed in my 'contact info' screen, they have changed my home number to my attorney's number, with our cell phone numbers as the back-ups.

[starting_over]

Just as an FYI ... I filed on July 14th and when I recently went into my online countrywide account, I had a similar issue. I was able to log in, but was not able to see any details or history about my first or second loan. I am continuing to pay through my bank's online system.

I called countrywide just to see if my mortgage act was up to date & they said it was. They said all payments were up to date. (Didn't record call ... didn't realize I needed to, and probably wouldn't know how to record the call anyway ... or what I'd do with that recording anyway, since I do not have an attorney & have not intention of going to court with info etc.)

I thought that there was a 16-30(?) day grace period. I.e. that even thought it says payment is due on the 1st of the month that you really have some number of days (over 15 but less than 30 - can't recall) to submit that payment with out it technically being late.

Is this true? Does this change once you file for BK? How important is it for the payment to be made on the 1st each month?

I only have enough in my paycheck for the first mortgage on the 1st of the month. Generally, I pay the first mortgage on the 1st of the month (which uses up the majority of my paycheck). Then I schedule the payment for the second loan on the 15th of the month (my next paydate). Is this going to hurt me?

One thing that is unusual about my situation is that I had an ARM that went up about a year ago & I was able to work with CW to get loan modification. So for an extra 2 yrs (1.5 yrs now) it stays at the original interest rate.

One thing they did not tell me is that they purposely show a month's late payment when you get a modification, I guess it's so your credit goes down & so you can't refinance? Not really sure? Don't know how to get that off my credit report or if I even can ... I was just following instructions of the person who did my loan modification at CW 6 months ago when that happened. They told me not to send in a payment for a certain month b'c when the loan got modified it would cover that extra month ... I think they mislead me or that they do that & don't tell you it will affect your credit. I even asked "will this affect my credit negatively or show on my credit report if I dont' send in that months payment". They said no, and that I should not make that payment b'c it would be refeclted in my lowered monthly amount due / paid as a part of the loan modification. They said that when they did the modification it changed the amount due & I would have a month where nothing was due. This all happened over 6 months ago. When I recently filed BK I pulled credit reports to make sure I included all debt in the BK ... that's when I noticed it said I missed a payment or was late on a payment back in Oct/Nov.

That's been my recent experience with Countrywide.

I do have a question about Countrywide not reaffirming the loan. I thought I heard or read that for the BK case to close ... the mortgage company had to reaffirm the debt, before a judge or trustee could agree to letting someone keep a house.

Is all of this irrelevant if I have less than $2000 equity in the home & am upside down on the mortgage anyway? Even thought I have no equity, I really want to keep the home & live here. I have no intention of moving & I've always been current with payments (except that time when they told me to skip the payment one month, of course!).

(paid $265K for home, got loan for $270K to include some closing costs, home now worth less than $230K .. bought 2.5 yrs ago at height of RE market before everythign tanked).