Debbie Larsen bought her first home in Lacey after a first deal on a condo fell through. This story is about that condo, and Countrywide Mortgage.
"All I want is my $485 dollars," Debbie said. "That's all I want. That's what they said they would do and I'm going to hold them to it."
Debbie paid $485 for an appraisal Countrywide demanded. Through no fault of her own, the deal fell through when Countrywide couldn't get mortgage insurance. The lender seemed sympathetic, "We don't know why the mortgage insurance companies are being so difficult," Debbie said she was told, "so therefore cause we put you through so much we'll refund you $485."
That was in April, 6 months later still no check.
"It's like when you have bills to pay, you pay them on time."
I called Countrywide's parent company, Bank of America and asked them how Debbie can get her money. They apologized and wired her the $485.
"They just gave me the run-a-round for months so when it finally went to the media, I guess it got their attention"
The lesson here. Debbie's deal fell through because of credit tightening by lenders.. It happened between the time she qualified for the loan and the closing.. She was smart and got every promise in writing.
Even though the promise was in writing, Debbie still worked for months to get her money. Bank of America says it sent a check but it went to the wrong address. The company failed explain why, months later, it took a call from me to get them to wire Debbie her money.
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