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Is there light at the end of the tunnel when dealing with foreclosure and Countrywide
I hope you can help us. My husband and I were sent into foreclosure when becoming delinquent 2 months. We didn't realize that the process had started until I couldn't make a payment on-line. I called Countrywide and was told the bad news. Although I was ready to make one months payment, plus the current months payment it was too late. We worked out a re-payment plan and have made the monthly payments in accordance with our agreement. Then this year, January 2008 - they returned our January payment stating that it did not meet the terms. Many calls and hours later I learned that because of the ARM increase in March then September (2007) we were still behind and need to start on another repayment plan to catch up the ARM increases. Our monthly payment began at $1,566.00, the repayment amount jumped to $1,971.97. Now with the ARM adjustments, and the new base amount of $2,160.16 the proposed repayment amount will be in the amount of $2,634.55. This is with a down payment of $2,500.00 or more. This has been the most difficult and heart wrenching experience. We want to keep our home, we are trying, but in the process have fallen delinquent on all of our other bills. We can't refinance because our credit is shot. If we could lower our payments we'd be able to take care of all of the other issues. We've been garnished, and our stress levels are ever increasing. We'd like to find light at the end of the tunnel, we just don't know how to find it.
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