I have had the pleasure of guiding a client through the infinite hoops and hurtles of The Countrywide Mortgage "Hope Department". And what an eye-opening experience it is.
First of all I tried to help with getting their sub-prime mortgage rate lowered. With appraisals on the property coming in lower than the balance due this was not an option. It took 30 calls, countless conversations with their call center in India...re-routed calls to at least 10 different "800" numbers, disconnected calls, and basically the best in run arounds that money can buy. Meanwhile the best advice I could give this person who had a choice of going bankrupt, being foreclosed on, or just see their credit rating drop to 200 was to hang-in there...help is on the way...unfortunately with all of their claims to be interested in seeing that people not lose their homes..."The Hope Department" would be better called the "Hopeless Department".
Now we are just trying to get a "short sale" approved...best of luck you say...and you would be right...what a mess we will be in for awhile.