Extended credit & our address
Written: Apr 19 '00
|
Product Rating:
|
|
| Customer Service: |
 |
|
|
Pros: Helps those with past credit problems
Cons: Loads of mail from other "Loaning Institutions"
|
|
|
| mrssmoopy's Full Review: Countrywide |
Our credit was on the road to repair, and we feared that we would not be able to obtain a mortgage loan due to late payments up to four years previous to the application date. Countrywide was highly recommended to us by our Realtor when purchasing our first home loan.
We contacted the Loan Officer as directed by our Realtor, and the fun began. We had an appointment within a week, and were instructed on what documentation to bring which included everything but our birth certificates! The pre-qualification process went very quickly, and we were amazed when the Loan Officer said we would be approved if we "cleared" up some issues. The following days of worrying, and letters of explanation of why each individual companies' records showed late payments, Countrywide employees assisted us every step of the way. The waiting finally came to an end, and we received our approval for a FHA loan.
At closing, we had no "last minute" problems that other Buyers experience, and a month after the signed, sealed, and delivered paperwork was completed, we received our first mortgage statement. We were horrified that the payment requested was almost $100.00 more than discussed during the pre-qualified meetings. There were additional charges for things that came as abbreviated names. We immediately contacted our Lawyer, and Countrywide. We were assured that everything was in the clear, and these charges were valid. These were standard charges for FHA loans, and were standard for our type of mortgage. I wish that we had know that at closing.
Countrywide's 1-800 phone number, which is located on every statement gives their customers the option to reach someone 24 hours a day/7 days a week. I had to use this service on several occasions, and was always happy with the level of service, and respect given by their Customer Service Representatives. After we became a customer of Countrywide, we were also able to access our information via their website. This web
page is very easy to navigate, and you can get the information you need quicker than using the telephone. (Http://www.countrywide.com)
Countrywide sent us monthly statements which showed in detail where every cent of our payment was distributed. This statement showed renewal dates of Home Insurance Policies, and the names and addresses as well. Countrywide leaves no rock unturned as far as information given in each monthly statement to the loan responsible parties as far as reference information. This is a bonus compared to other mortgage statements I've viewed from other companies. Their monthly statements come with tear off payment stubs, and the appropriate envelopes to be mailed in. This leaves less room for error in payment processing. I did incur several late charges that I felt were unsubstantiated. Due to our personal payday schedules, sometimes it was "down to the wire" when mailing our payments. I called the toll free assistance line, and was told that payments were sent to one address in Texas, but the actual payment was credited upon receipt in California. We obtained the address in CA, and began sending our payments "Certified, Next Day" via the USPS. This is unbelievable that this company would give us this tip to help us keep our mortgage payment record in the "Good" status.
We only owned our first home for three years, and once a year in April, our account was reviewed to make sure we were contributing enough "extra" money that was held in Escrow. This lowered our payment one year, and the following two, it became higher. It was explained to me by Countrywide that they need more money for additional taxes required by our Local Government. No matter what my question was, Countrywide was able to explain it in terms we were able to understand!
We sold our first home, and this company processed the refund of "Escrow" holdings immediately after our closing. Even at the end, they were "On the ball". We will be purchasing another home, and will return to Countrywide as our first choice of Mortgage Lender.
One small note to those who are considering this company: Their service is outstanding, but we received TONS of mail from other companies that received our address from Countrywide. Make sure you contact your mortgage provider, and ask them to take your information out of the "public lists" that offer you home improvement loans. I wish I could have cashed one-quarter of those "pre-approved" checks we received in the junk mail. I'd be a millionaire!!!
Great company, Great service!
Recommended:
Yes
|
|
|
|
Epinions.com ID:
mrssmoopy
|
 - Top 500 |
|
Member: Jamie Simpson
Location: Tree Lined Suburbs of Central NJ
Reviews written: 194
Trusted by: 309 members
|
|
|
- Add to My Yahoo!: 
- Add to Google Homepage: 
© 1999-2009 Shopping.com, Inc.