Countryside Service

Dear [redacted] ***: #1f497d;"> I have [redacted] two files of correspondence and documentation concerning [redacted] As you read through these documents, I believe you will see that we have made every reasonable effort possible to help [redacted] keep his land at [redacted] *** In the [redacted] , you will find a Modification and Extension Agreement dated March 1, that reduced [redacted] ’s interest rate to 10%, thereby reducing his monthly payment to $ When [redacted] first purchased his land in June 2006, his payment was $with an interest rate of 12% (Keep in mind this was before the recession.) [redacted] ’s Payment History report is the first document you will see It begins at the time of the Modification and Extension Agreement because we were not using a mortgage software program prior to From March – August 2009, the interest rate was 10% There is also a letter dated February 20, stating that Countryside will further reduce the interest rate if he makes his payments on time going forward.** He did this from March until October Countryside reduced his interest rate to 9% in September 2009; he started getting behind again in November 2009, but we continued to work with him because he assured us his financial situation would soon improve **NOTE: From January – December 2008, [redacted] was late fourteen times However, we only assessed the late fee nine times As a side note, [redacted] was able to pay six payments at the time of the Closing so that he could receive the Deed to the property Since we offer owner-financing, we hold the deed until the customer makes six consecutive on-time payments [redacted] paid six months upfront so that he could immediately receive the Deed to the property (Payment #was late.) As you can see, [redacted] began paying “interest only” in January Monthly interest calculates to $ On July 5, 2010, [redacted] called requesting a pay-off amount for the loan, leading me to believe he would be paying his loan in full in the near future However, this never happened The problem actually began in July when [redacted] decided he was no longer willing/able to pay the full amount of monthly interest due and reduced his payments to barely cover one-half of the monthly interest [redacted] received monthly Invoices asking him to catch up his account—to no avail As you know, we are pursuing foreclosure and have given our attorney the following information: $56,= Total Principal Due $ 8,= Total Past Due Interest (December – July 2014) $ = Total Late Fees Due $ = Past Due Property Owner’s Fees ($annually) $66, = Total Amount Owed by [redacted] & [redacted] [redacted] ***, I think all other documentation is self-explanatory, but if you should have further questions, feel free to contact me Please note that your letter was delayed because of the incorrect zip code ( [redacted] ***) Sincerely, [redacted]

Dear [redacted]:
#1f497d;"> 
I have [redacted] two files of correspondence and documentation concerning [redacted].  As you read through these documents, I believe you will see that we have made every reasonable effort possible to help [redacted] keep his land at [redacted].
 
In the [redacted], you will find a Modification and Extension Agreement dated March 1, 2009 that reduced [redacted]’s interest rate to 10%, thereby reducing his monthly payment to $622.   When [redacted] first purchased his land in June 2006, his payment was $964 with an interest rate of 12%.  (Keep in mind this was before the recession.)  [redacted]’s Payment History report is the first document you will see.  It begins at the time of the Modification and Extension Agreement because we were not using a mortgage software program prior to 2009.  From March 2009 – August 2009, the interest rate was 10%. 
 
There is also a letter dated February 20, 2009 stating that Countryside will further reduce the interest rate if he makes his payments on time going forward.**  
He did this from March 2009 until October 2009.  Countryside reduced his interest rate to 9% in September 2009; he started getting behind again in November 2009, but we continued to work with him because he assured us his financial situation would soon improve.
 
**NOTE:  From January 2007 – December 2008, [redacted] was late fourteen times.  However, we only assessed the late fee nine times.  As a side note, [redacted] was able to pay six payments at the time of the Closing so that he could receive the Deed to the property.  Since we offer owner-financing, we hold the deed until the customer makes six consecutive on-time payments.  [redacted] paid six months upfront so that he could immediately receive the Deed to the property.  (Payment #7 was late.) 
 
As you can see, [redacted] began paying “interest only” in January 2010.  Monthly interest calculates to $422.46. 
 
On July 5, 2010, [redacted] called requesting a pay-off amount for the loan, leading me to believe he would be paying his loan in full in the near future.  However, this never happened.
 
The problem actually began in July 2011 when [redacted] decided he was no longer willing/able to pay the full amount of monthly interest due and reduced his payments to barely cover one-half of the monthly interest.  [redacted] received monthly Invoices asking him to catch up his account—to no avail.
 
As you know, we are pursuing foreclosure and have given our attorney the following information:
$56,282.19 = Total Principal Due
$  8,610.68 = Total Past Due Interest (December 2012 – July 2014)
$      575.16 = Total Late Fees Due
$       788.00 = Past Due Property Owner’s Fees ($200 annually)
$66,256.03  = Total Amount Owed by [redacted] & [redacted]
 
[redacted], I think all other documentation is self-explanatory, but if you should have further questions, feel free to contact me.  Please note that your letter was delayed because of the incorrect zip code ([redacted]).
 
Sincerely,
[redacted]

Revdex.com:
I have reviewed the offer made by the business in reference to complaint ID[redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below. I also state that again the reason why they lowered the payment in first place was because of the lack of performance the community was advertised to be from the beginning. The lack of lots owned, lots built on n down right lack of interest from home buyers in the community. People were losing their lots, giving them up etc. They have many lots undeveloped n for sale besides the ones they took back n nit nearly what was proposed or advertised to be houses built on or developed. Took them awhile to even put community improvements on property until they got they say enough lots sold. I've hanged in there n paid what I could but every month since the beginning.  Now they want the property back Scott free, keeping 7 years of payments, not it getting the community to the standard they sold people on n so they can resell to some one else n make double again. They did not perform their side of the bargain to the utmost of the contract I believe. Getting 4 lots back for free seems to be a long term scam. Ask them how many lots are for sale now, how many of those lots been for sale for over 5 years, how many improvements have they done to community in past 7 years, how many lots have they taken back Scott free in those past 7 years? 
[Provide details of why you are not satisfied with this resolution.]
Regards,
[redacted]

Review: me and my wife bought two separate lots from this company in 2006 from the beginning their were misunderstandings. We were told this new lake community would be great investment, would have lots of homes, etc.. we were not told the developer would have majority say in community, that it would be certain type of home you could build there which directly influences what you can afford, that power water crafts wouldn't be allowed which takes away from the attractiveness of the property. Their was more then a year or two before the community had standard roads and other common community items. But we continued to pay our monthly mortgage. thru a recession as well. yes, our payment was lowered some and we continued paying what we could afford and notified the developer. we paid every month even til this month. We received a letter from their attorney stating they wouldn't us to give back the lots that weve paid over $20,000 in payments for since 2006 monthly or they would foreclose. They'd foreclose keep our mid $20,000 plus in payments and resell and make double. This is unacceptable, also weve tried to sell these lots thru a local realtor there for past 4 years and even the realtor say no one is buying in that community or having much success selling because the community lacks the necessary amenities and location. So many have just let the properties go and a few like me have hung in their and continued to pay. They sent the letter on May 21st and I got on May 23rd and they gave me only one week to comply. This isn't fair and I feel the short timeframe to comply is done on purpose.Desired Settlement: Id being willing to give them back both lots but not for scott free and then they turn around and try to resell lots, double their profits even when ive been paying monthly payments on property I haven't used ever or only have seen once since 2006. Some type of monetary payment and they could get back both lots. Other option is I can go back to making my monthly payment and hopefully being able to make a lil more a month to satisfy them. These are two fair options to both parties involved.

Business

Response:

Dear [redacted]:

I have [redacted] two files of correspondence and documentation concerning [redacted]. As you read through these documents, I believe you will see that we have made every reasonable effort possible to help [redacted] keep his land at [redacted].

In the [redacted], you will find a Modification and Extension Agreement dated March 1, 2009 that reduced [redacted]’s interest rate to 10%, thereby reducing his monthly payment to $622. When [redacted] first purchased his land in June 2006, his payment was $964 with an interest rate of 12%. (Keep in mind this was before the recession.) [redacted]’s Payment History report is the first document you will see. It begins at the time of the Modification and Extension Agreement because we were not using a mortgage software program prior to 2009. From March 2009 – August 2009, the interest rate was 10%.

There is also a letter dated February 20, 2009 stating that Countryside will further reduce the interest rate if he makes his payments on time going forward.**

He did this from March 2009 until October 2009. Countryside reduced his interest rate to 9% in September 2009; he started getting behind again in November 2009, but we continued to work with him because he assured us his financial situation would soon improve.

**NOTE: From January 2007 – December 2008, [redacted] was late fourteen times. However, we only assessed the late fee nine times. As a side note, [redacted] was able to pay six payments at the time of the Closing so that he could receive the Deed to the property. Since we offer owner-financing, we hold the deed until the customer makes six consecutive on-time payments. [redacted] paid six months upfront so that he could immediately receive the Deed to the property. (Payment #7 was late.)

As you can see, [redacted] began paying “interest only” in January 2010. Monthly interest calculates to $422.46.

On July 5, 2010, [redacted] called requesting a pay-off amount for the loan, leading me to believe he would be paying his loan in full in the near future. However, this never happened.

The problem actually began in July 2011 when [redacted] decided he was no longer willing/able to pay the full amount of monthly interest due and reduced his payments to barely cover one-half of the monthly interest. [redacted] received monthly Invoices asking him to catch up his account—to no avail.

As you know, we are pursuing foreclosure and have given our attorney the following information:

$56,282.19 = Total Principal Due

$ 8,610.68 = Total Past Due Interest (December 2012 – July 2014)

$ 575.16 = Total Late Fees Due

$ 788.00 = Past Due Property Owner’s Fees ($200 annually)

$66,256.03 = Total Amount Owed by [redacted] & [redacted], I think all other documentation is self-explanatory, but if you should have further questions, feel free to contact me. Please note that your letter was delayed because of the incorrect zip code ([redacted]).

Sincerely,

Consumer

Response:

I have reviewed the offer made by the business in reference to complaint ID[redacted], and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below. I also state that again the reason why they lowered the payment in first place was because of the lack of performance the community was advertised to be from the beginning. The lack of lots owned, lots built on n down right lack of interest from home buyers in the community. People were losing their lots, giving them up etc. They have many lots undeveloped n for sale besides the ones they took back n nit nearly what was proposed or advertised to be houses built on or developed. Took them awhile to even put community improvements on property until they got they say enough lots sold. I've hanged in there n paid what I could but every month since the beginning. Now they want the property back Scott free, keeping 7 years of payments, not it getting the community to the standard they sold people on n so they can resell to some one else n make double again. They did not perform their side of the bargain to the utmost of the contract I believe. Getting 4 lots back for free seems to be a long term scam. Ask them how many lots are for sale now, how many of those lots been for sale for over 5 years, how many improvements have they done to community in past 7 years, how many lots have they taken back Scott free in those past 7 years?

[Provide details of why you are not satisfied with this resolution.]

Regards,