Why is Countrywide or Bank of America proceeding with foreclosure on my property?
As part of the settlement, Countrywide has agreed not to initiate or advance foreclosures before it determines whether a borrower is interested in and can be qualified for a modification. This applies only to the types of mortgages and borrowers that may be eligible for the National Home Ownership Retention Program. If you are not eligible for the program, or if Countrywide has been unable to contact you, they may proceed with foreclosure. Borrowers who are in default or facing foreclosure can get free assistance from a counseling agency certified by the US Department of Housing and Urban Development by calling 1-888-995-HOPE or find a list of local HUD-certified counselors at www.hopenow.com. Borrowers should avoid companies who promise to prevent foreclosure or get a loan modification and charge a fee in advance of completing the services. 5. Am I eligible for a foreclosure relief payment under the settlement? The Attorney General is still determining how foreclosure relief funds wil
