Questions about mortgage company

Date: Thu, 02/10/2011 - 22:40

Submitted by anonymous
on Thu, 02/10/2011 - 22:40

Posts: 202330 Credits: [Donate]

Total Replies: 3

I had a mortgage with Coutnrywide. They went belly up and sold out to Bank Of America. We I lost my job it took me a long time to find another one. I was 9 months behind by the time I foudn another job. I dipped into my 401k and gave them all I could (due to the limits a new law put on withdrawls) which was 6 months worth of payments. I made an arrangement to begin payming my full payment the beginging of each month and to send a weekly amount so that every month i would pay and additional 1/2 payment. I have sent every payment promised. They still call me 3 and 4 times a day to ask me when I will pay them as if the payment arrangement never existed. Of course it does because when i tell them to check the notes they find it. But they still want to hear the whole storyof how I got behind and try to get me to promise to pay more. I have three jobs now and must have my phone with me at all times so answereing 4 calls a day (and sometimes up to 12!) is not an option.

My question is this:

Is BOA the original creditor since they bought the loan from CW?
Is there ANY way I can get them to stop calling me multiple times a day?

Is there a law that will help or a letter that I can send that they will listen to?

Any help would be appreciated!!!

Hi! Welcome to the forums! As you are making payments as per the

Hi!
Welcome to the forums!
As you are making payments as per the payment plan, so there is no need to make extra payments on the loan. No, BOA is not the original creditor. Your original creditor is Countrywide. And if a representative of BOA calls you again, tell him/her that you're going to take legal action against them as they are harassing you and violating FDCPA laws. You can also send them a Cease and Desist letter to request them to stop communicating with you. If they still call you, then file a lawsuit against them.

lrhall41

Submitted by Good Nelly on Thu, 02/10/2011 - 22:52

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Nelly, this is incorrect advice. FDCPA doesn't apply here. Cou

Nelly, this is incorrect advice. FDCPA doesn't apply here. Countrywide was acquired by BOA. This is not a collection agency calling, this is the new owner of the obligation. BOA is protected as a "holder in due course." I would suggest that you send a letter to BOA outlining the payment arrangement you had with Countrywide and express your intent to continue paying as agreed. Ask them note the arrangement in your file and to set up checkpoint calls that are scheduled, perhaps once every 2 weeks. Let them know that they may call you at a designated time to discuss your current situation. That way, they can check in and you can let them know when your situation changes enough to warrant a change in your payment agreement.

lrhall41

Submitted by OhioGal1 on Fri, 02/11/2011 - 05:25

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that is correct gal. I have had my mortgage sold to another buy

that is correct gal. I have had my mortgage sold to another buyer before and it is exactly as you explained it. It's different then something being charged off and then sold. The buyer becomes the owner and it's just like you took the loan out with them. Not sure what nelly was thinking. A cease and desist would surely send them the message that you arent willing to talk to them and probably cause some forclosure talks.

lrhall41

Submitted by anonymous on Fri, 02/11/2011 - 06:19

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