Countrywide Home Loan Company Review

I live in Florida and I had Countrywide as a mortgage company.  A few years ago, we had the eyes of two hurricane go right over my house within a two week period.  I thought that that was frightening, but my nightmare was only starting.

Because of the damage to my house, I contacted Countrywide to see if I could defer a payment on my mortgage to help me meet my deductible.  I was told that they do not defer payments on the mortgage but could do something else to help me.  I was told that they would put a hold on three months of payments to help out (I thought, "Wow, this company is the greatest"). Boy was I wrong.

I was told that once the three months were up they would give me an additional loan or increase my monthly payments to "catch up."  Please keep in mind that nothing before the hurricanes or after the three months changed with my financial situation.  After the three months I was told that I was misinformed and that they were sorry but I didn't qualify for an additional loan and/or additional payments on my mortgage.  They were going to foreclose on my home!! 

After almost having a nervous breakdown and resorting to some very quick thinking. I decided that my only way out of this would be to pull out money from my 401K (my retirement money) to "catch up" and also so I could keep my home. I heard later that Countrywide had pulled this on alot of people, but some of them weren't so lucky and didn't have a 401K to fall back on.  Countrywide foreclosed on their homes.

Countrywide is the worse company ever!!!  I finally got away from them after refinancing three times since then (they kept buying my loan).  I am still paying for it because now my mortgage payment is almost twice as much because of the refinance charges.

They were going under and all I kept thinking was, what goes around, comes around.  But then I found out that they received backing from Bank of America and are back in business.   After how I was treated by them, I would never do business with them or with Bank of Atlantic for backing them. There were alot of people that I spoke to that felt the same way as I did about Countrywide.  The BBB and consumer affairs were also contacted because of them numerous times.   BE CAREFUL AND BEWARE!!