Comments on: The End Of Countrywide

By: Nikki

Nikki — Wed, 27 May 2009 22:19:38 +0000

Countrywide was notorious for predatory lending ( happens to all my clients who deal with this lender) and BoFA was also notorious for stolen accounts. They will not help the home owners who are in defaults because their main goal is just to foreclose the property and sell it to another investors for a bigger profit. Now they're getting more vicious because they already recover most of their money back from AIG ( gov bail out). They said 30-45 days bcs they knew you would waited on them and in the meantime you cant afford your home payments and they're really looking foward to send you the first NOD which lead to Trust Deed sale. Using a lawyer that specialize only in real estate and loan modification is the only way to make them listen to you. If not it's like you're going to court without a lawyer. They ( CW ) said only a few owners qualify for a loan mod but even so it's only to $200-$300 down and a lot of homeowners still couldnt afford their payment. They could say to the gov that they did try to modify these loans BUT they're still being shady by not giving the homwowner for what they qualify for which could be a cut of half of what they're paying right now as well as principal reductions. Again, they will not ever give you for what you qualified for. The common sense to that: They're the bank. They're in it for profit and profit only. Why should they loose more money to you while other investors can bail them out immediately. I have more answers, reference and proof for you if you didnt believe me. Feel free to email me at : imax314@yahoo.com

By: loanmodificationzoom

loanmodificationzoom — Fri, 08 May 2009 15:07:13 +0000

While the reformation of Countrywide and the strides BofA is making to reform a seemingly incorrigibly tarnished image is commendable, ultimately the primary responsibility of BofA should be not in originating new business, no mater how open or up front they are with new clients, but rather, taking care of the homeowners who's mortgage liens they currently hold or service. Not that BofA would listen to me, heck, their CEO smiled and nodded at President Obama and committed to help homeowners at a meeting at the White House a couple weeks back, and then did very little to change and help more homeowners, but my advice, and I hope you agree, is that they run their database of all mortgages through a filter to see who will prospectively qualify under Making Home Affordable, and immediately contact those clients and help them modify.

By: Bill

Bill — Wed, 06 May 2009 16:52:54 +0000

Ann, i heard they will be notifying all homeowners (by mail) soon about the switch. please be sure to be calling the right department when calling for status. make sure it the loss and mitigation dept. if you have to. re-submit and track it from there.

By: Bill

Bill — Wed, 06 May 2009 16:52:34 +0000

By: Bill

Bill — Wed, 06 May 2009 16:51:55 +0000

By: Ann

Ann — Mon, 04 May 2009 18:16:30 +0000

Can anyone give me any advice when we will hear from BofA (Countrywide) on if we qualify for Obama's “Affordibility Plan”? My husband has not had full time work since April '08 and we have been 2 months behind since then. We bough our home in Nov of '07, before Countrywide got bought out by BofA. We have lived in the home the whole time, never took any equity out or re-financed. They told us at the beginning it would be 30 – 45 days. Well, needless to say it's way past that now. I have been calling them every two weeks to check on the status, but they just tell me they don't know how long it will be. Will this merger set us back on the list to get reviewed?

By: Leslie_A (Leslie Adams)

Leslie_A (Leslie Adams) — Tue, 28 Apr 2009 21:10:10 +0000

Am interested to see if BofA new “Clarity Commitment” motrgage disclosure is useful or just window dressing. http://is.gd/v2ZQ

By: Tony Sena

Tony Sena — Tue, 28 Apr 2009 12:27:11 +0000

I know why they got rid of the brand name of Countrywide but either way it is still a powerful brand. What an end to the nations biggest home lender.