Dear Mr. Mozilo,
I have had a mortgage with Countrywide Home Loans since 1995, when I bought my first home. I have enjoyed my experiences with Countrywide very much and would like to continue our relationship with Countrywide for many years to come.
My wife and I are currently in the process of buying a larger home for our family and we have been reviewing our credit reports in the process. I knew that I had some late payments in the past with Countrywide and now realize what an impact those late payments have had on my credit score. I am hoping that by explaining my difficulty in paying, Countrywide would consider making a goodwill adjustment to the credit reporting bureaus on my loan. I understand this is a rather unusual request, but hope, given the extreme circumstances at the time, that Countrywide would consider my situation and provide a goodwill adjustment.
Our second child was born premature and spent a month in the Neonatal Unit of our local children’s hospital. My wife was unable to work in order to provide our son with the medical care that he required. For a while we were able to manage the medical bills and loss of income due to his hospital stay. However, we could only maintain for so long, and eventually, we began to feel the pinch of too much debt and not enough income. We found it increasingly difficult to pay our bills in a timely manner. Subsequently, we were late on some of our loan payments. In time, my wife was able to go back to work and we began to turn our financial situation around. When we found ourselves backsliding in late 2005, my wife went back to work full-time and since then we have been on time with every mortgage payment. I cannot tell you how much it meant to us that Countrywide was so understanding and was willing to work with us. Since that time, we have worked diligently to pay our bills and get our family on a sound financial footing. I have automated my mortgage payments to Countrywide through my bank to assure that I never make this same mistake again.
We are about to shop for a mortgage for a larger home and hope to work with Countrywide in providing the financing we need. However, we understand that the late notations on my credit reports may preclude me from taking full advantage of the very lowest interest rates now available. Since those notations do not reflect my current fiscal responsibility, I am requesting that you give me a second chance at a positive credit rating by revising this tradeline. I sincerely hope that Countrywide will consider the circumstances in which I found myself and consider my current payment history as more representative of my fiscal responsibility able and revise my payment history and reporting to the three major credit bureaus. Any goodwill you can show me will be greatly appreciated.
Regardless of your goodwill decision, please know that we thank you for helping us at a time when it was needed. We hope to continue our relationship with Countrywide because you have provided excellent service to us in the past and we would like very much to continue that relationship when we purchase our new home. Please let me know if any additional documentation would assist in reaching a positive outcome, and I sincerely thank you in advance for your time.