Emails, letters, and scandal, seem to be circling Mr. Angelo Mozilo has he scurries to cover up when the light is exposed on his famously tanned hide.
The light flips on and BAM! Out goes the Countrywide Freeze Super Hero’s who are paid by Mozilo to fix PR problems, and put muzzles on homeowers who may expose what really is going on with their bad loans and soon to be foreclosed homes.
What turned out to be the most famous hardship letter ever written in the history of foreclosure mania, has turned into the most famous email reply ever written.
The exchange between Dan Bailey and Mr. Mozilo was a classic tale of the little guy going up against a Goliath of a corporation known as Countrywide Home Loans. The email gave us all an inside look at what one of the most powerful CEO’s in the world, thinks of Homeowner Joe, who is strapped to the hilt and reaching out for help to save his home.
Angelo_Mozilo@countrywide.com wrote:
This is unbelievable. Most of these letters now have the same wording. Obviously they are being counseled by some other person or by the internet. Disgusting.
Mozilo and the Countrywide camp then released this email in response to the LA Times repeated requests for comment:
Bailey and Mozilo couldn’t be reached for comment. Late in the day, the lender issued this statement: “Countrywide and Mr. Mozilo regret any misunderstanding caused by his inadvertent response to an e-mail by Mr. Bailey. Countrywide is actively working to help borrowers, like Mr. Bailey, keep their homes.”
Shortly thereafter the Countrywide Freeze Super Hero came in and went to work on Mr. Dan Bailey.
The hero instructed Dan not to speak with the media and that they are all bad guys looking to exploit you for their gain. He also told Dan that he would get the best loan of his homeowner life, and that they would expedite him through the loan modification process.
But, Mr. Bailey was told that if he spoke with the media or anyone about what the freeze super hero was speaking of, then all bets are off and he will lose his home. Oh and to top it off, Dan was told he must sign a confidentiality agreement that is legally binding.
Wow, the best loan of his life and all he has to do is keep quiet.
What good ‘ole North Carolina boy would turn an offer down like that? Not Dan, heck, he’s a hard working, blue collar entrepreneur who is a man of principle and definitely a man of his word!
The media was all over the story and trying to get a piece of Dan, and his email prowess.
The problem was that Mr. Bailey was not saying a word. He was told to keep quiet and he was deathly afraid of losing his home. So naturally, he kept his mouth shut and didn’t speak to anyone about the deal that Mozilo and Countrywide offered him because A. He is a man of his word and B. He just wants to save his home.
2 very good reasons to not answer the phone and your emails.
A week went by and I finally received a call back from Dan.
We spoke about our lives and the crazy email that turned into a media frenzy. He explained to me that he was 100% naive to what was going on and it was all happening so fast. One day he finds my forum and the next he is all over the papers and in the TV. Then to top it off he is getting calls from the office of the president instructing him on what he can and cannot do.
He was confused, and terrified on what he should do. The fear of losing his home and the threat from the Countrywide Freeze Super Hero kept him scared straight and his lips sealed! Talk and lose your home, or keep quiet and keep your home.
Heck, what would any other red blooded American homeowner do? Remain silent, right?!
Well, not so fast……
You see, Dan went on to explain that he wasn’t too happy with what happened to him, and what it has done to his life. What started with just trying to do the right thing and save his home, turned into repeated bashings against his character and his motives.
He was hurt by what people were saying about him. He had spoken to some close friends of his about the fiasco, and then realized that maybe the deal Countrywide gave him was really a bad deal. Maybe he was pressured into signing something he never should have signed.
I then proceeded to ask him of he ever signed a confidentiality agreement and he said,
“No, they never sent one and they explained to him since he was a man of his word, they will not require him to sign it.”
I said, “Oh really? Interesting. Do you mind explaining to me what they offered you Dan? In fact, can you fax it to me?”
He then told me the deal that he signed was set in stone as of that day, and I said, “Oh really? Interesting!”
Yes, it is interesting that Mr. Dan Bailey was given a pretty decent loan modification. But what was VERY interesting was the fact that Dan still can’t afford the loan offered to him by Countrywide.
Yes, he CAN’T afford the terms given to him.
It doesn’t take a seasoned 20 year CEO of the World’s largest lender, to figure out that he can’t make this payment and rate and that he will soon be just another foreclosure statistic. In comparing the loan modification given to him and his monthly income, he is negative with just his mortgage payment.
I guess the Countrywide Freeze Super Hero did not take into affect that a man has to eat, and heat his home to live. I guess they figure Mr. Bailey will just grow his own food, heat his home with lumber he cuts down in the forest, and convert his petrol burning car to vegetable oil, so he can get free gas to and from work from the local hamburger stand. While he’s at it, he can get some left over food to eat because 110% of his income is going to the mortgage and Mozilo????????
So, what does this all mean?
It means that the Countrywide Mozilo Email scandal is not over and Dan is far from living hapily ever after.
He feels that he was literally swindled, and pressured into signing a deal that was made to fail. Mr. Bailey is not happy that his name has been dragged through the mud and that the world’s largest lenders, and one of the world’s highest paid CEO’s, have placed his hard working ass in a worse off position than before.
Is it unfair and deceptive, the way Mozilo and the Countrywide camp has acted? Did they use deceptive techniques to steer him into signing an agreement that was really unfair? Did they place him in another unaffordable loan? Did they violate any other laws in their attempts to hush this homeowner with their homeowner muzzle?
These are all questions that Mr. Bailey and his new lawyer will have to answer for you.
Meanwhile on 6/4/2008 the LoanSafe.org forum was hit by German hackers and spammers that infiltrated our boards with vulgar, hardcore porn and viruses. The peculiar thing about the first attack ever is that the only forums and posts that were attacked were all Countrywide related. The thread where Mr. Bailey found Angelo Mozilo’s email was one of the infected threads.
One has to think if this is just a coincidence or another attempt by the Countrywide Freeze Super Hero trying to damage control and cover up the hideous Countrywide truth.
To be continued……………………………….. 
Media Inquirees to speak with Mr. Dan Bailey, his lawyer, or Moe:
Moe Bedard 951-531-0148 email: moe@loansafe.org
Welcome to the new way of putting muzzles on homeowners that can shed some light on Countrywide’s widely known practice of customer abuse. Fix their loan in record time, give them a deal they could have never have thought of in their wildest dreams and make them sign a confidentiality agreement.