Posted on: 10th Jan, 2009 07:46 am
I received notice of default in October 2008, I am in a loan review with my mortgage company right now. It has been almost 3 months since they began reviewing my loan, and although I call on a weekly basis, they tell me it is still in review for a payment plan. I have also been told, by a lawyer, that if I cannot accept the repayment plan, to look into a Quick Deed option. My question is, what steps do I need to take now, and how long does it take to do a loan review? The longer it takes the more I will have to pay, I was already 3 payments behind and now it has been another 3 months, so that is six months of payments. Every time I call Countrywide they tell me I am still in review and should receive documents on a payment agreement via Fed Ex. They don't give me a time frame. I am confused and they are NOT helping.
you need to stay on top of them. keep in mind that mortgage companies/banks, etc. were not at all prepared for this onslaught of mortgage problems. their staffing is woefully inadequate as a result. there are thousands of others in the same boat as you, and getting back quickly to each has obviously been a hardship for the lenders.
if you don't already have an advocate (lawyer, counselor) on your side in dealing with them, then you ought to find one so you can exert a bit more pressure.
we don't often think so, but most of the lenders are doing their best to try to work with each client. timing might be off, and might be terrible, so it's best to be persistent in order to obtain results.
if you don't already have an advocate (lawyer, counselor) on your side in dealing with them, then you ought to find one so you can exert a bit more pressure.
we don't often think so, but most of the lenders are doing their best to try to work with each client. timing might be off, and might be terrible, so it's best to be persistent in order to obtain results.