Question to Moe from a reader and Countrywide borrower, Melena

Several years ago when I worked for a local builder, Countrywide was one of our preferred lenders. They seemed to have a strong customer service base but is apparent that has changed. Why? Did they grow too fast? New management perhaps? Why don’t they seem to care about servicing their customers? Have they forgotten that if it weren’t for our business they Read the rest of this entry »

Countrywide loan modification.

People think that I enjoy reporting doom and gloom. Some people out there in the bogsphere think that I get my thrills by bashing Angelo Mozilo and Countrywide. One person has went so far to say this about my blog, “He also pointed to me to what may be the most anti-Countrywide blog out there.”  Thanks Jane Wells. (CNBC)

I am here for one thing. To report the truth on the mortgage industry and to report what lenders and servicers are doing in regards to their loss mitigation efforts.

If lenders and servicers are truly taking care of struggling homeowners, then I will give them credit where credit is due. If they are severely lacking and BS’ing the media and public, then I will blast them with a counter attack because I want the American people to know the truth. Like I have done many times in the past with Countrywide.

I am for the school of, “It’s not what you say, it’s what you do.” Countrywide finally looks like they are starting to put their loan modifications where their mouths are.

Click here to view an actual loan modification from the office of Angelo Mozilo.

Attention Homeowners! Get live help from the “true experts” in our stop foreclosure and loan modification forum.

CALABASAS, Calif. and NEW ORLEANS, La., Dec. 21 /PRNewswire-FirstCall/ — Countrywide Financial Corporation (NYSE: CFC - News) and the Association of Community Organizations for Reform Now (”ACORN”) announced a joint initiative to develop a blueprint for home retention programs, with a particular focus on subprime borrowers. “Countrywide and ACORN share the belief that subprime borrowers who have demonstrated the ability and willingness to make payments should not face foreclosure solely as the result of a rate reset,” said Maude Hurd, National President of ACORN. Countrywide and ACORN anticipate final release of the groundbreaking provisions of the home retention initiative soon after the New Year. Both parties believe that the plan will provide a road map and positive benefits to subprime borrowers experiencing financial difficulties in this challenging environment. Read the rest of this entry »