A new deal with Countrywide

Subsequent to a two plus hour phone ordeal with Countrywide today, I was finally triumphant and extracted a loan modification approval on a negative amortization loan. They agreed to permanently waive the negative amortization and lower the monthly payment for a five year fixed term. Also, due to the fact the subject borrowers were eight months behind on their payment, the bank agreed to add the indebtedness to the back end of the loan term.