Hi Beth,
I actually work with Countrywide and here is the scoop. As of now the finer details of the stimulus plan are not yet available, so we don't exactly know the specific guidelines and who will be eligible. What we've been told is that is about 2-3 weeks away, and it will probably take a little while after that to implement things.

For the time being I would recommend your sister contact Countrywide's home retention hotline at 800-669-6650 to see if she qualifies for a loan modification under current guidelines. She also might want to contact the city or county treasurer's office. Quite often they can provide her with free foreclosure prevention counseling

Best of luck

Hi Beth - This is a question that a lot of people are asking. My first advice would be for her to call Countrywide and request someone in the Loss Mitigation Department and explain to them the situation. There is a lot of arguing on what qualifies as loan modification and who is eligible. Stats are showing that most people are not helped that much but right now you do not know until you ask as this is a new thing for everyone including the banks.

Please let me know if I can be of any other assistance,

Randall Sandin, 843-209-9667, rsandin@carolinaone.com
Carolina One Real Estate