I am currently working with (I think) Countrywide on my own loan modification. I call CW all the time and am yet to speak with my home retension specialist assigned to my file. As a matter of fact I was told it was handed to yet another representative just last week.
I was verbally approved for a loan modification on December 22, 2008. All documentation was submitted for final review and approval on December 29, 2008. They told me that it take upwards of 45-60 days for a final approval but my file would be expedited due to the impending trustee sale date. The sale date has been postponed twice so far (March 11th) in light of this negotiation. What could possibly be holding up their final approval, I won't know - until I know.
Countrywide is supposed to be implementing a streamline loan mod system. Well my package must have floated down another stream because I cannot get a handle on all of this. So in my case and in answer to your question, yes.
Good luck to you!
The hardest thing with Countrywide is to get them to open a file. Once they do, it can take months for a decision, but at least you are in the system. They are currently working on ways to streamline their process, however, don't count on it helping in the near future.
Also, they will tell you that you need to be behind on your payments, but this is just a way to cut down on the open files. Do not believe them. It is my experience that if you get to the right person, they will open a file even if you are current on your mortgage. You just need to demonstrate that default is imminent (like an upcoming rate adjustment, loss of overtime on your job, two earner family income reduced to one, etc). Keep calling until you get the "right" person who will help you. Dare to Dream.
Real Estate Consultant
RE/MAX Palos Verdes Realty