Another Example of a Countrywide Mortgage Disorganized Mess
In November, I received a phone from a lender to do a BPO on a home. I called the homeowner to schedule a interior inspection and to calculate the value of the home. When I got to the home to do the valuation I spent a couple minutes talking to the homeowner. He explained to me about his financial problems and his possible situation of loosing his home to a bank foreclosure. After hearing his story I gave him some advice to hopefully help him out. Facing possible foreclosure, the client was following my advice. Unfortunately, time was not on his side.
Last week, I received a phone call from the BPO Client. He had informed me that his home was foreclosed on in December. Now he is looking at other housing scenarios. I told him I would see what I could do. He was interested in a lease purchase or possible owner financing option.
Today the BPO Client called me back. Although his home had been foreclosed and sold, Countrywide, his original lender, had just sent him a letter. Countrywide was informing him that his mortgage interest rate had lowered thus lowering his mortgage payment.
The BPO Client me to see what the letter meant. Countrywide no longer owned his home. I thought it was an example of the left arm not knowing what the right arm was doing. I recommended him calling Countrywide. He was told by Countrywide to disregard the letter because he no longer had a mortgage with them.
This is another example of Countrywide's disorganized mess.
Information provided by the Dowell Taggart Team
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