Countrywide's email blunder

re: Countrywide's email blunder

jon reeaball — Fri, 24 Jul 2009 22:49:13 GMT

Its guys like Kevin Haycock, RVP in region 34 in Utah who were the reason why Countrywide went under. He was stealing money from every is his region. Kevin was also sleeping with his operations manager and would slander anyone who would go up against him. Countrywide was corrupt from the top to the bottom. There was zero underwriting and zero competence in each reason. Directives were handed down from the top to "jam" as many loans through, regardless of quality, on a monthly basis. Guys like Kevin Haycock were the loan "pimps" keeping everyone blind to what was going on. They all need to serve time in prison. Just because you drive the getaway car doesn't mean you didn't assist in robbing the bank.

re: Countrywide's email blunder

JOHN — Tue, 10 Mar 2009 14:47:08 GMT

Yes, we were scamed by Countrywide and lied to by their broker whi in return Countrywide defended. In addition Countrywide refuses to help anyone in trouble after placing thousands of families in BAD mortages and handing anyone a loan who owned a pen.

WHAT COUNTRYWIDE DOESN'T WANT YOU TO KNOW:

In order to get help w/o losing your home you must fall behind for 3 months on your mortage payments, that's when the process of HELP begins, Countrywide will not disclose this info. ofcourse. Best advice is to speak to your attorney, mant laws have just changed and many more TO HeLP HOMEOWNERS are pending in the very near future. Again you must be 3 months behind to receive help from a bank.

BANKS SEEM TO FORGET THE BILLIONS OUR GOVT. RECENTLY HANDED TO THEM FOR AID, YET THEY SCREW THE PEOPLE WHO TRUSTED THEM!!!!

HOPE THIS HELPS!!!!!

re: Countrywide's email blunder

joe sanchez — Tue, 07 Oct 2008 18:19:19 GMT

all loans are made in the interest of the loaner not the lowest perosn on the food chain even those who don't over extend. everything that is said and done makes it seem as a favor for you, there just trying to help, its your money, its your house its for you, just look at this monthly payment and since your credit is just marginal this is the best your going to get in a few years it will be better and so will you, looking at the past of our US history we as a public person never learn and even those who do learn will never be free of these banks unless we stop there greed now. It's our tax dollars that paid for all of fannie insurance to begin with and now its our taxs to pay for a bail out to those who are not willing to help out the lowest common denominator rates are still at high interest are they not willing to drop there rate of return to a respectable level for the harm they caused the US public this is extrotion and terroism by corp americia and our own government right here in our own homeland meaning we bail out those who do not need bailing out if our economy is so easy to tip or b reak its because we only have a few eggs in the basket and so few freinds to play with The United States of America is for the people I know were said to a Corp nation but it's the PEOPLE who buy sell build live eat and give taxes to this Govt for the good of the PEOPLE of this UNITEDF STATES of AMERICA not one person begurge our taxes if there were used in the purpose there were intended for the people not the hogwash we get from corp america we need this we need that and it's ll for you we as a nation would let the corp grow but not at our tax $ expense they can raise and fall just like anybody else someone else will take there place there not important Mortages are all to big to secert to many pages of nothing for us all for them you want it you sign it. NOT GOOD! For me NOT GOOD for America

signed one little person in america home of the ????

re: Countrywide's email blunder

GreedFree — Mon, 07 Jul 2008 19:24:05 GMT

After reading many of the comments I am shocked at how STUPID people really are. Do you really think that this issue is the fault of the mortgage companies ? NO, IT IS THE FAULT OF THE GREEDY CONSUMERS. Yes, mortgage companies came out with mortgage programs with variable rates....because of consumer pressure. For those of us who remember...the early 90's had very low 1-yr, 3-yr, and 5-yr variable rates...no major problems there. What is different today...GREED. The comsumer wants more than he/she/they can afford, so to qualify...they do an ARM. Or better yet....interest only for 1, 2, or 3 years....they never pay anything down on the principal, but hey, you'll probably get a big raise so you can finally AFFORD a regular loan payment...NOT!!!!! I know that I am very conserative, but my husband and I have only ever had 15 year fixed rate mortages, we have only pruchased houses that we could afford and over the past 30 years we have rates as high at 14% and as low as 5.250%, we have owned five homes from PA to CA, back to PA and now in TN. My point...we have had NO MORTGAGE PROBLEMS because we purchase what we can afford. We own our home...it doesn't own us. We can still afford food, vacations, even gas without blinking an eye....because we buy what fits our budget.

re: Countrywide's email blunder

gatogrande — Thu, 29 May 2008 19:47:41 GMT

I do feel sorry for a lot of these people, but honestly how could anyone believe signing on for a low intrest rate that will turn into a really high one in a few years is a good idea? It's like all those credit card offers-0% for 12 months then up to 18% forever after-oohh I can't wait to transfer my thousands to that. Oh yes, they were no doubt assured the value of their home would continue to increase ridiculously. Now who would believe that anything will cont to increase in value forever? This is a HUGE purchase people, a 15-30 year commitment, don't be silly, KNOW what you are getting into. My daughter and her husband almost got one of those ARM's even after I told them all about it. This doesn't mean I believe those lenders should be totally off the hook, they really went out on a limb to finance people who were not ready to buy a home yet-what were they thinking? But I can't believe people can make a huge purchase like this not even knowing what type of mortgage they have, or how an ARM will result in much bigger payments. I am now thankful to my parents for beating finances into my head! I guess some type of bailout is in order, considering the magnitude of the problem,but I saved for 8 years to get a proper down payment and get my finances in order, and if these folks get a lower intrest rate than me I am going to be really mad.

re: Countrywide's email blunder

sherry — Wed, 28 May 2008 03:00:42 GMT

I for one got lucky and refinaced out of my 2-28 arm the moment the prepayment penaty dropped to a fixed rate. I can tell you though that the broker that sold me the arm told me how EASY it would be to refinace to a fixed rate as long as I made my payments on time, ect. and at the time it was easy...my house was worth 80,000 more then a paid for it after 2 years. so I had no problem refinancing. this was early 2005. If I had to do it today.......I couldnt... not because I didnt make the payments.....no because I didnt read the fine print.....but because I no longer has the equity I once had. the brokers made it like it was the NORMAL way for a first time to buy a house, prove yourself, and youll refi without a problem. I agree that if the mortgage brokers would have been a bit less greedy....charged a half or a point higher on a fixed interest loan...they still would have made their money and no one would be in this mess.

re: Countrywide's email blunder

Big Joe — Tue, 27 May 2008 18:33:36 GMT

I have a loan that was handled through a morgage broker and he messed it up. I specifically stated that we wanted a fixed rate 30 year note. He didn't deliver the paperwork unitl the morning of the sale about an hour before closing. It was an ARM. The problem was that B of A was going to forclose on the previous owners the following day and the sale would be stopped if we didn't sign. B of A would not even discuss waiting even though the sale was set. The loan was sold to homecommings. Homecommings sent me a letter a couple months ago saying that if the rate had changed on that date there would be no change. Now I get a statement that the rate is going up a full percentage point even though interest rates have gone down since that first letter. I really have to wonder why they sent the first letter except that it was at the height of the furor on ARM.s and they were trying to avoid an avalanche of calls to refinance. Also, I contacted them about refinancing and they said that the refinance would cost about $3,500 in fees just to change it from an ARM to a fixed rate. P.S. The value of my house when I purchased three years ago was $110,000 and it has gone up to over $140,000 since I purchased it three years ago. We have not missed or been late on a payment and we have even excellerated the payments on a biweekly plan and included a little extra in each payment.

It especially seems rediculous since the the fixed rate is now the same as my origional rate.

By the way, I don't blame the mortgage company. I do blame the broker. We made it clear that we wanted a fixed rate and he still gave us an ARM and held it until it was too late to change it and complete the deal.

By the way the broker disappeared from the company shortly after the sale and the police were looking for him.

re: Countrywide's email blunder

Darrell — Tue, 27 May 2008 18:04:31 GMT

Read every complaint here as coming from somebody who lives beyond their means... PERIOD!

re: Countrywide's email blunder

Waffels — Tue, 27 May 2008 17:09:59 GMT

My home loan is a fixed 30 year loan. Countrywide emails me probably 5-6 times a month at least to refinance my loan into a better rate. I called them on the phone, they said, "You have a great rate (which I do) and I don't think we'd actually be able to help you out all that much, especially once you factor in closing costs." I appreciated the honesty instead of being given the run around for some program I wouldn't even begin to understand. I was just calling to see if I could get my rate dropped but keep my payment the same (I always pay more than is required....gotta love the automatic deduction system). I feel blessed to have a job and personal situation where I can afford my house and not "have" to refinance just to get by. It makes me sad to think others are not so fortunate. I wish them all the best!

re: Countrywide's email blunder

Living within my means — Tue, 27 May 2008 16:27:06 GMT

Gee! I would have bought a bigger home too if I thought someone were going to bail me out. No, I bought what I could afford at a fixed rate. It's by no means the largest house on the block, for a family of four, but I can make the payments in good times and bad. It's hard to have sympathy for couples or small families that buy way more home than they need and then complain about the cost.