Countrywide Mortgage Meltdown

[prudentheart]

Habakkuk revealed this many moons ago.

[razban01]

Foreclosures do not work. They destroy our economy!

[TheFuckyougame]

WHY NOT INCLUDE THE SEC? I WAS RAPED BY ACOUPLE OF THEM DURING THAT TIME I COMPLAINED ABOUT COUNTRYWIDE.. WHAT A FUCKING BUNCH OF RAPISTS...ALL OF THEM RAPIST!S WHY DON'T YOU ALL GET ON YOUR SPACESHIPS AND FLY AWAY OFF THIS EARTH.. WE DON'T NEED ASSHOLES LIKE YOU...FBI, SEC, CRIMINALS, WHITE COLLAR CRIME, FRAUD PLEASE DIE !!

[konahawaiitina]

Bank of America will fall next. George Soros is waiting to profit from the downfall of America's economic system. Just watch. Obama and all his cronies aren't far behind Soros on those folks that want to see the US constitution and all our rights destroyed.

Watch the video THE WARNING about Brooksley Born's attempt to warn congress about the crooks and the impending mess if they didn't do something about securitizations. The video is produced by Frontline and was done over 10 years ago.

[savgal1211]

How about an update on these folks? Are they doin gbetter now?

[savgal1211]

I hope ya'll are doing better, and especially the kids. God Bless!!

[luc649]

I can bank employees sleep at night knowing what they know and do ? ...I couldn't.

[BadassCeino]

These bankers a just criminals.

[marcobonilla01]

Where ever do you what to put in your minds thas what you got! we need to go for the freedom!

[marcobonilla01]

Where ever do you what to put in your minds thas what you got!

[lrrrosterman]

Countrywide didn't screw you. You didn't make your payments. Next time don't buy more than you can afford. I don't like Countrywide. However this is what you get when you buy on credit. You couldn't afford to buy it outright. You got a big wad of money on credit. Lesson here don't borrow. Pay cash. If you can't do that don't do it at all.

[Iamnopicasso]

adfasdfeeeeeeee33333

[imanerd36]

Thanks capitalism.

[rjcastaneda]

The Law Office of James J. Brown, III located in Santa Ana, CA specializes in Predatory Lending as such. We can help and sue your mortgage company. If You been served by Sheriffs to vacate. We can be in court tomorrow to cancel the eviction. find us online at jjbrownlawdotcom or call five six two three six three six eight five zero

[CindyandGaryand1]

I saved my home by filing less that $200 in paperwork. I filled in my name, address and number. An agency in DC with instructions online helped me. You can find them via search engine, put in stop or delay foreclosure or put the usual beginning then homeownersassistance then info not net or any other ending, in the address box. Use discount code 7128098 to keep costs under $200, use this dicount code as soon as you can, as they are subsidized, and they do expire. Good luck and God bless

[konahawaiitina]

We need to fight this.  It's not Countrywide. It's the greedy theives on wallstreet, bastard ceo's, FDIC, OTS, and Federal Reserve. Tim Geitner, Obama and Alan Greenspan.

Americans, Wake up and Fight.

We are all going to be homeless if we don't fight.

[redline1189]

@rosieyposie7 you obama bin ladins fagot bitch????

[konahawaiitina]

We need to fight this. It's not Countrywide. It's the greedy theives on wallstreet, bastard ceo's, FDIC, OTS, and Federal Reserve. Tim Geitner, Obama and Alan Greenspan.

Americans, Wake up and Fight.

We are all going to be homeless if we don't fight.

[klamata88]

this people are liar they did not pay for mortgage for few months , living free hoping to fuck with the bank to bagg them for lower their payment , that is what happened no one can take your house as long as you are paying your reguler bill.

[CreditRepairSecrets]

@klamata88 did you see the same video as I? Why do you think what happened to them couldn't have happened? I SEE this happening every day. Believe it...it's happening and it has NOTHING to do with buying more house than they can afford.

[nmzl93]

I agree as long as you pay your regular bill no one can take your home, But if i got it right they couldn't pay because there monthly bill got bigger because of that company.... then again i don't care....

[HPPAV2003]

Countrywide got me for a $350.00 application fee to refinance with them last year. But I later cancelled it because they were taking too long to close the deal. Now I know why. Luckily I'm only out $350.00 instead of my home like these poor folks. But I sure would like my $350.00 back.

[aspenmogul]

Unless your home is paid for, you don't own it --- THE BANK OWNS IT! The BANK is your landlord. But listen up, because of the meltdown, you can rent a nicer house, for much less than owning it. Screw the banks and rent the high-life. Let some greedy fool make the payments on a depreciating "asset". Lastly, the real estate thingy is over. If you didn't get to participate (and make money), then wave it bye-bye, because IT'S OVER!

[wilatemodel]

@aspenmogul ..even if its paid for,..you r still just a Tennant,.....read your deed,...your home will always b owned by the FED !!

[aspenmogul]

wilatemodel >> I hear ya. I have several friends with homes "paid for". But they still can't escape those pesky property taxes, utility bills, HOA's, insurance and HEFTY repair costs! :)

But for many others who have a mortgage, that american dream thingy is now a nightmare. If only they could have seen what was coming....

[wilatemodel]

@aspenmogul ...its gunna get a lot worse,....we havn't seen shit yet.....

[charkata]

My opinion is: The Banks took our houses, got the money from the Mortgage insurance and received the money from the Government. Now they are selling our houses. As always the banks are the winners.

[EliyahMessageTime]

Stupid bastard mongrels! Trash like you not paying your bills are what caused my property values to go down. YOU DID IT, not Countrywide. You living pay check to pay check, buying larger homes than you can afford, YOU DID IT!

Trash like the "ROGERS" should be put in internment camps, slave labor. YOU CAUSED the mortgage meltdown by not PAYING YOUR BILLS! YOU agreed to pay, and you didn't, now you want to blame others.

[wilatemodel]

@EliyahMessageTime ....so....how much did the FED pay you to say that?....

[EliyahMessageTime]

LOL,

I am one that wants to do away with the FED and allow people to borrow money INTEREST FREE, you fool!

BUT IF YOU want to pay usuery, as the Scriptures FORBID, then you pay the consequences!

NOW, who got me say that if not the Bible?? Something you care little for, and therefore, repeat what I said in the first comment.

[mozilloCEO]

Why didn't you pay me? You promised, . . . .

[zombiespooner67]

Seigu007. U R wrong. and your an ass

[Seigu007]

THESE PEOPLE are the reason the U.S crisis. Dont forget that.

[omen619]

Your the problem, keeping your eyes close to reality.

[Seigu007]

if you havent paid for it, IT DOESNT BELONG TO YOU. Go cry your crocodile tears someplace else.

[coxgirl67]

Couldnt u file chapter 13? i mean I have country wide and i had to file on them because, they werent going to win!

[rosieyposie7]

POSSIBLE MISSING FRAUD DEED AND MISSING FRAUD MORTGAGE MOM 85 YRS NYC HOTEL LOC 153 PENSIONER & BROTHER ON FIXED INCOME TO APPROVE A PRETATORY HOMELOAN TO BUY A NEW 2004CONSTRUCTION HOME OUR HOUSE IS IN NOW 3YEARS FORECLOSER COUNTRYWIDE SOLD MORTGAGE TO BANK OF NY 2006 HOUSE HAD OVER 100 COUNTS CARBON MONXIODE IN 2006 HOUSE onMARKET VACANT UP TO AUG 2008 WE ARE in 3 YEARS FORECLOSER WE DONT KNOW IF WE ARE COMING OUR HOUSE HAS TEMP ORDER OF STAY but we wantCOUNTRYWIDE JUSTICE

[bigvuch]

@rosieyposie7 No one knows what you mean if you don't use periods

[uzijohn]

It would seem Countrywide Mortgage is ground zero in the fraud and misconduct that caused our Countries financial collapse, yet I've heard no names!

I've seen no arrests or even criminal prosecutions.

I know the couple who owned

World Savings gave 500 million dollars to the Democrat party,

In effect "protection money"

they're untouchable now,

They wont go to jail, even though there Scam Company eventually caused the collapsed Wachovia Bank,

We'll all be stuck paying theyre Bill!

[measiancute]

i am having the same problem

[Iseeme63]

Im glad she listened cause now taxes on her property have lowered and now she has a lower house payment. HAHA!!! Stick it were it dont shine Countrywide.

[Iseeme63]

I can remember how many refinance offers Countrywide sent my mother and everytime I told her youll have 3 grand tacked onto your NEW loan after you get your new loan papers which would more than likely raise the payment at a new interest rate to more than likely.

[Iseeme63]

There will be a totalling one day and any mortgage or lender will be judged by a very angry God.

[globalfabllc]

I love the rude comments directed towards these people. It says more about the writer than about this poor family. Keep in mind that a slip or fall, a layoff, your business going into the toilet because of the economy is ALL is takes to get behind on your mortgage. These people had a $116K loan - almost anyone could handle that at 6%+ APR. They were spoofed by the bank and there were and are a lot of people being spoofed now.

[fubecabr]

These dumbasses could have challenged the foreclosure in court with the documents they supposedly had.

[beerandon101]

Its sad that this happened to you, but are they supposed to allow you to live in the house for free? Make your payments on time. Its not the mortgage companys fault that you did not have money put back in savings and over financed yourself now is? How can they pick up the pieces from a natural disaster? Get insurance/optional insurance.

[sharkloaner]

You believe I live in Rwanda, retard? hhahahahahahah I live in west bloomfield, mi! YOU DUMB ASS! HAHAHAHAA go shoot your mom for giving birth to a dumb fuck like you!

[sharkloaner]

Sometimes I wonder if people are retarded? Why buy a 50 000$ car ON PAYMENTS, why buy a house YOU CAN'T AFFORD? WHY DIDN'T THEY BUY A SMALLER APT INSTEAD OF THE BIG HOUSE?

tO SHOW OFF?

[jsnip4]

Who has $200,000 dollars in cash to buy a house you jackass?

[sharkloaner]

That's my point you filthy retard! If you dont have 200 000$, why not get something cheaper? And by the way, I got 200 000$ in cash. If you need a loan, call me.

[jsnip4]

Country: Rwanda says your profile. No wonder why you have shitty comments. You live in a damn hut and the 200k you claim you have must have been from those Prince Alli Baba scam emails that say you are from Rwanda and needs an American's bank account info to transfer funds of 8 million dollars into. LOL

[Damienm7]

its so nice to watch yanks suffer what a change for me , keep vids like this coming :)

[mspaz]

jjturt....maybe I am also a struggling American who is sacraficing alot to pay all of my bills, including my mortgage, on time. Please dont tell me this is anyones fault except the homeowners..dont use a disaster as an excuse. That may be harsh but it is honest. It is because of homeowners like this that America is in this mess...Now you want the government to help you out and modify your mortgage so you can afford it..no thanks...

[nercesdurces]

If you stoped making your car payments, what happes eventually?

[mspaz]

if you pay your mortgage on time you wouldnt have this problem....YOU are the reason the US is in the middle of this crisis.

[jjturt45]

maybe you should have a disaster happen to you and we will see how judgmental you are. Maybe you are one of the corporate officials with their hand held out feeding off the bottom with the rest of the political misfits or bail out junkies, buying your jets and your million dollar bonuses on the back of the average tax payer such as the people featured. You are a looser.

[Dave985033]

I know I wrote a message before...but I did work for Countrwide for 4.5 years in the west valley area of los angeles. It was a 3 large buildings that Countrywide occupied...although not every office space...but most of it. I worked in the filing area, with dozens of other people, ...on a rotation basis almost 20 hours of operation every day, and overtime...when it was very busy. We processed as many millions of home loans without much regard to whether anyone could afford it. It was business.

[comokate]

Countrywide is my lender. They never asked me for proof of my income! They wanted me to take out a loan I knew I could not afford ( but my mother was a real estate agent when I was a teen so I had many early lessons on income/homeprice ration). I passed on their "advice" and purchased what *I knew* I could afford. Many people don't know how it all works and banks have been dishonest, to say the least.

[Dave985033]

agreed. thanks.

[carlosred2000]

Even with my 30k downpayment 810 credit score and making 70,000- Debt free. I still wouldnt buy a house till my wife gets her part.

THESE PEOPLE JUMPED IN BUTT NAKED .. AND I FEEL BAD FOR THEM STILL

[inkey2]

I feel for them but.......wow, these houses look pretty damn nice, big "and expensive". How far above their means were these people living where they did not even have 2 months savings to cover themselves should an emergency come up.

[zest4livin]

Go to Countrywide and kick the guys butt that lied to you. Burn the house, collect insurance.

I also have gotten calls from CW. I ask them about the fees, and other ?s which they never answered. Something in my spirit screamed don't trust them. I said no. I also went thru H. Katrina, and had to get a 3 month suspension of my mortgage to help me out. This could be me if I would have went with CW.

Trust no one, and listen to your inner man.

[jflynn7651]

I am so sorry you were put through so much by countrywide! Your story really touched my heart and even brought tears to my eyes. I hope and pray that things get better for your family. Take care & God bless! Keep your head up!!

[saveurhomeplease]

We Can Help You Save Your Home From Foreclosure Go To homesaver(DOT)tk

[uturniaphobic]

those spooky countrywidw commercials still ring in my head.

I catch vultures on the phone pushing supplemental plans or whatever to my Mother when I visit. suspiciously it has increased quite a bit since my dad died a few years ago.

freaking, money predators. Sounds like CW was really a missile from hell for you.

[uturniaphobic]

gees! sickening!

there was a time when folks could actually pay off a home, but these scums have wedged their way into People's dream of owning a home.

look for "OWNER FINANCED" signs to buy homes/cars. don't work with these people BOYCOTT!

[StanGrad97]

This representative from CountryWide called me at least 30 times trying to get me to take out a mortgage with them about 5 years ago. I mean I was called at work, my mothers every fucking place. Finally I told my wife I dont trust them and just took out my mortgage with another lender after more research. NOW I CAN CLEARLY UNDERSTAND THAT NOT GOING WITH COUNTRYWIDE WAS A GOOD THING!!

[inkey2]

to uturniaphobic: yes, and there was also a time when people did not buy homes that were "way" above their means and saved their money for emergencies.

[uturniaphobic]

I'd say the reason a home price is so high is because every sloth in town has their fingers in the pie. I could build a home top-to-bottom (a fairly nice 3bed/2bath) for about $60k parts and material... where the heck is the REST of this cost coming from?

[inkey2]

to uturnaphobic; well at least in my area of the country...the reason house prices are so high is "the value of land". For example , where I live in the suburbs of Boston...it is a highly desirable and everyone wants to live here (for many various reasons). A very small ranch house on a small lot of land is about $400,000. My moms house purchased in 1964 for $27,000 is now worth "one million dollars"

[uturniaphobic]

well thanks for the salutations and all but it's not necessary )

yes, so I hear, location, location, location..out here in the desert it's different: everyone fights over the waterholes. pathetic..in Nevada and it's one of the worst offenders in the recent housing. I just watched and didn't get involved at all..whew!.

[AM429]

i hated these fuckers when they were pushing the loans 5 years ago.

[ciro9]

The newly elected President Barack Obama could enact(once he takes office)to federally mandate long term loan modification's (interest) on behalf of all Americans with ARM Negative (sub-prime/ deferred interest) mortgage loans (the main reason for foreclosures) at a low interest rate (fixed by the Federal Reserve Bank) for 40 & 50 year's, depending on income. Leaving it up to the bank's to do this is akin to putting the fox in the hen house to protect them.

[rldownes]

This is a no lose option that all banks should be using to help the situation. It is ridiculous that they are letting the foreclosures happen when they could easily remedy this with 40 yr mortgages at a fixed lower rate.

[jmpm87]

All I have to say to you, Is take a little responsibility for your life. If countywide told you they would accept any payments from you, were did the money go??? You have no one to blame but yourself

[carlosred2000]

I agree with you jmpm87. Dont buy a home till you have that down payment and that CUSHION. Ive been saving for 10 years and my parents saved for 10 years for their house.

I hope these people turn out ok though.

But we gotta pay for their mistake and Country wides greed!

[inkey2]

to carlosred2000: YOU ARE DOING THE RIGHT THING....save up for that down payment so you don't end up like all these people going under. My wife and I slept on a pull out lumpy bed in my parents family room for 12 years to come up with a down payment. We had no privacy, constant noise, the massachusetts winters were damn cold in that room. Finally we ended up finding a FANTASTIC deal on a condo during the last condo crash in 1993. "30 year "fixed" mortgage is the ONLY way to go.

[Ipaymymortgage]

Should've told Countrywide to get the additional payments from Chris Dodd. He could afford it with the savings they gave him. Which the windbag "had no idea" amounted to graft. Connecticut, vote this phoney out!

[eckor]

Real Estate companies, and agents, allowed this calamity to happen to the economy. Period. They capitalized without placing any regard to the consequences of their selfish actions. And I don't about you but I never condone the breaking of this nations laws, to do so should result in treason charges. Assholes like you are the reason why this country is on the brink of meltdown. I, for one, hope to God that you get exactly what you deserve. Karma is a bitch and your due for a huge overdraft.

[Jan3Sobieski]

You are such an idiot. Can you read? I told you I worked in the wiring department. It had nothing to do with fraudulent anything. How was I to know what was going on somewhere else? I was just a tiny part of a big machine, doing one little thing. If you work in a company with 10 departments and one of them is doing something icky you can't automatically blame everyone in the company. The government allowed it to happen because of no regulations, and law allowed misdirecting clients. Capitalism.

[eckor]

Fuck-off and die. You knew exactly what was going on but you stayed. You're no better.

[Jan3Sobieski]

Interesting comment. I will repeat myself. You are an idiot.

[imbubba56]

Maybe if Countrywide had worked with people like this that fell on hard times due to a natural disaster they wouldn't be belly up now.

Politicians like Chris Dodd and Obama got sweetheart loans from Countrywide. We are becoming a nation of crooks.

This is very disturbing.

[EscapeNewJersey]

I don't get it, my father was a barber and I lived in apartments growing up. I worked in KFC and paid my way through college with no debt. I worked 10 years after college, and saved $175,000 dollars and then bought a home for $120,000 cash in 2001 when I just turned 34. See, I'm living proof you can start with nothing and save you money and bypass the mortgage scam. Most people are spoiled and wan't everything without saving - that is why this country is now on the brink of financial disaster!

[ChicagoNative]

Amen, my fellow good citizen. If even half the country would follow your example, things would be in much better shape. The federal government, both Republicans AND Democrats, have allowed Wall Street to convince a lot of people that there is a "free lunch."

[Jan3Sobieski]

I used to work for Countrywide and the reason most ppl went into forclosure was because they would LIE ON THEIR INCOME SHEETS just to get a better rate/bigger loan for a nicer house or a 15 year fixed instead of a 30. And guess what? After a couple of months they could not afford the monthly payment anymore. Don't blame shit on Countrywide. Do your own research and BASIC FUCKING MATH and if you can't afford the home, DON'T BUY IT! If all you can get is an ARM, maybe your credit isn't good enough

[b2flyer1]

Jan3Sobieski:Jan how can ONE lie on they're income,when the lender usually ask for w-2's as proof of income?There is also the income to debt ratio,that is ALWAYS figured before a loan is issued.

[Jan3Sobieski]

How? Very easily. One way is to ask you boss to give you a w-2 showing higher income and/or include bonuses, vacation pay in your normal income (which should not be considered as income). My parents did that and the boss was ok with it. The easier way was to claim that you have other sources of income such as a home business, selling cosmetics or some other crap. No matter how you look at it if you have high income, inc/debt ratio will always be higher than it actually is. Any more questions?

[Jan3Sobieski]

Also, Countrywide is to blame as well. They should have educated people more on what type of loan they're actually getting. They should have also been more thorough in checking the income. In the beginning the procedures were not as tough, when shit started hitting the fan, we had 3 separate underwriters checking the income on one loan, slowing the process dramatically but improving credibility. Unfortunately there was nothing that could be done for the first "batch" of unreal income loans.

[eckor]

You do know that an employer lying on a w-2 form is a federal offense? And for millions of people bringing in fradulent w-2 forms per their employer is completely fallacious. It came down to greedy companies like Countrywide approving these people for loans that could adjust at anytime to the point of making them unaffordable. The people are partially to blame, but the core blame falls upon reptilian mortgage brokers. Like it or not.

[Jan3Sobieski]

Of course it's illegal. It's also illegal to download copyrighted music, movies and software that you don't own and yet half the world is doing it. It's illegal for immigrants to cross US borders without visas and they're doing it with great success. CW loan originators didn't care that much even if they knew, and why would they? If you worked 100% on commission, you'd do anything to get paid! Would you think (at the time) that your actions would bring the economy down?

[Jan3Sobieski]

You know who's to blame? This whole government's hands off approach to big businesses. And the tax loopholes rich republicans are using to stuff their pockets. They own billions in shares of those big companies just like CW so they allow them to do what they want. At CW I was not part of the originating portion but I worked in the wiring department. I got laid off along with 15,000 people. I was given 2 weeks severance pay and our CEO walked away with $110 million. What do you think of that?

[ChicagoNative]

I would agree with you on most points, but you've left out the Democrats in this equation, who are equally guilty with the Republicans.... a pox on them all!!!! (And then people wonder why I say that we need a "credible" third party). They don't call Joe Biden "Credit Card Joe" (reference to his helping Delaware's credit card companies) for nothing on Capitol Hill!!!

[Jan3Sobieski]

Oh, I agree with you completely. Democrats are no better. I just said republicans because they're the ones that believe hands off approach is best for the people.

[b2flyer1]

Wake UP sheepal Americans.The day is quickly approaching,when Americans will be forced to go to the cartridge box,to get FREEDOM....You can't vote them out,they own the system.Americans will have to do what the founding fathers did to the British...wake up it's coming

[cds10690]

this is unreal.. how can countyrwide tell people one thing, then do another... they should have trashed the house.. thats what people are doing now!

[aceyorba]

How can you trust a person named Angelo Mozilo

Thanks BAC

Don't worry be happy..be glad you lost the property..you can now buy it back for half the price...

[LucyVanPelt22]

they think obama can cure this illness in economy.

even ron paul cant cure it.

[yellah2006]

They are at fault common sense before you buy something. For example if you find a lambo thats worth 120 K and you find it for half the price and you think its an amazing deal but if you dont have money to put gas in it then it aint such an amazing buy. The buying is never the problem is the payments. Unfortunatly our society doesnt get that and dont teach you that in school. I think before any class thats required they should have a class that teaches you common sense!

[distressed7]

Now Countrywide uses a new set of contracts it is sending out via 3rd party representatives. The contracts are ambiguous, unclear and very late in the game for these people. Many of the customers are frantic and soothsayers hired to tell them everything is okay fear that telling them what they want to hear is nothing more than that, a hollow promise. A lie.

[JuanGaby1]

Lies,lies always lies...

[seekingthepeace]

yeah but you can have a nest egg, but what if you get sick, that is what happen to me...out for months saw my account go down to zero...than what?

[buckhuckleman]

This is why you need to save and have a nest-egg!

[texan176]

Yes what the lender did to them was illegal and flat out lying but my question is how much did the payment go up by BEFORE the foreclosure occured and the credit ruined?

He said the loan went from $116K to $127K. If they payment went up a few hundred dollars a month and they could not cover it they were living way beyond their means to start with.

[alanhowitzer]

Trusted? Who would trust a company run by some orange dude?

[Rspringscabin]

haha thats so funny. some orange dude.

[BOINKER1]

Did you actually take the time to read your contract? Of course not.

Quit your crying, this is why real estate lawyers exist to make sure the greedy banks don't rob you like this.

[neil7d]

Debt Solutions Group can assist many homeowners with loan modification and renegotiations. For free consultation, please call 888.844.3557 ext. 6115 or 6103.

[KARStarla]

Now this is interesting because it fell under "an emergency"... Larouche is getting petitions nationwide (in case of housing market decline) that there would be an agreement which sounds much like this one interestingly enough, does anyone here know what I'm talking about? This is underway and being petitioned for in all 50 states incase of a homeowner and lender emergency concerning mortgages, THIS might happen to any of us through any of our own mortage companies assuring us otherwise

[john67elco]

Dude if you cant take off a few weeks to a month without losing your home, that means u can fucking afford the house. Stop being stupid and putting ur kids in this mess.

[andradg]

Youre an idiot..

[rogboz]

You definetly do not own a home.

[Rspringscabin]

in escrow on 2 of them right now. I was smart and didnt buy into the scam like all the other sheeple. I actually rented during that time. Shoot me for being smart and waiting,

[rogboz]

You're john67elco?

[awakenedwarriors]

All of this was planned by the elites, the bilderburgs. Yes, hillary, obama, mccain and your john edwards is all part of this. Wake up America you are all being led down to a road of communism. People like this may be put in work camps.

[amyven]

And, I discovered that I was partly responsible. We will never change or learn from our mistakes when we continuly blame others for our misfortune. We need to take responsiblilty for our own actions, and learn from our mistakes, so this horrible outcome NEVER happens again! That's how we grow as people and overcome adversity.

[rusf77]

Very True, i just dont understand why they would do something like that, if anything it would be better for the Mortgage company to help them with a repayment plan, but some lenders wont even considered that, leaving the home owners with little recourse, a lawyer is sometimes more expensive than the payment, so even do it's a resource; it's one seldom people have.

[He101A]

I am glad countrywide's stock went from $50 to $5.90. They got what they deserved.

[consumeradvocate101]

The video explains that Countrywide promised these folks and thousands of others that their deferred payments would be "tacked on" to the end of their mortgage. When people tried to resume payments, Countrywide put them off for months, because THE COMPANY was overloaded. They would not even accept payments. At the end of the deferment, CW reneged on its promise. They demanded a lumpsum payment or offered an unworkable workout that made the company more money and forced borrowers to pay more

[Gongeez]

Let me start by saying I am not defending Countrywide in any way but falling into foreclosure is a long term process(4-6mo at least) in which the customer is not making payments and getting seriously behind. This piece didn't even explain why the customer faced foreclosure. Did they just stop making payments? Take personal responsibility for your accounts and make your payments.

[rusf77]

The problem here if you saw the video, is that Countrywide offered them something that 1: they didnt need but forsed it on them 2: they promissed but didnt deliver, so there mortgage payment went up forsing them out, if the payment would have been the same then no proble, what's wrong with you dont you Understand Bastard

[amyven]

It's an important lesson for all of us: if you want to buy a home you need to save your money, read the paperwork, and get everything in WRITING. If you had Countrywide's comments in writing you could have perhaps saved your home. This couple is at fault because they did not get everything in writing and they took out a loan that they could not afford, and greedy Countrywide is at fault because they obviously scammed them for more money. It's obviously very sad.

[rusf77]

Dont agree, 1: They had many things in writting, 2 They raised the payments

The isue here is not that they didnt afford the home wich they did before Country wide offered to deffere the loan and tacke the extra fees. "Dont trust Mortgage Companies"

[amyven]

If this couple had Countrywide's statements in writing, that their payments would NEVER go up once they deferred payments due to job loss, then they have a valid case, and a lawyer could have helped them save their home. Then, why didn't they go to a lawyer and fight? I believe that Countrywide did scam them, and they didn't read the fine print. I do feel bad for this couple, and I do blame Countrywide for being dishonest, but we also need to take personal responsiblity for our own actions.

[dave98503]

bitches, pimps, criminals, lazy asses, smokers, McD loving

assholes, workers that lost files, argumentative workers....and these were the women at Countrywide!

I worked there 5 years almost until I was laid

off...I'm glad they are going into the toilet.

Oh yes, I forgot to mention...sometimes they vandalized the toilets in the nice building located in the West San Fernando branch. I couldn't believe it. Just a bunch of sh-t.

Go with Washington Mutual if you need a home loan.

[asialovesusa]

Please post the document you received from Countrywide here that says payments would be suspended. Such a written document would prove your claim of deferral and perhaps give viewers reason to write something to congress, senate and white house.

[aitraining]

I wish my mortgage was only $1100 a month.

[dave98503]

1100 a month?

I remember

when it was just 400 a month in the 70s.

[aitraining]

Sorry. I have a mortgage through Countrywide and I'm not buying into much of this. A mortgage company does not want to foreclose on anyone - it's a hassle and a last resort. These people are acting like Countrywide had a devious plan to trick them into foreclosure from the start. The company loses money when they foreclose. I feel bad for these people but this doesn't make sense.

[rydar1978]

dude, seriously, do some research on the ceo founder of country wide and read recent news about the guy. He is currently being investigated by the U.S congress

[aitraining]

Of course and there was/is some shit going on and he had over 100,000 employees. His "investigation" is not on him personally - more towards the "problem" as a whole - like the steroid guys. However, there are some borrowers who did not act responsibly with their own money and are now expecting bail outs. Plenty of blame to go around. My comment was based on what I am hearing in THIS video with THESE people. They seemed pretty clueless, ignorant and maybe not telling the whole story.

[Susieshepherd]

Plz google Countrywide sucks & read the submitted stories. There are HUNDREDS of detaild accounts of people who made every single payment on time and were still pushed into foreclosure as Countrywide does not apply many payments received to the correct account. Not sure what's going to happen with the class actions if they are sold but it might be looking into. I'm involved in real state and I've spent the last year and a 1/2 researching mortgage co.s. Countrywide is criminal

[se4821]

why did they not file chapter 13 to avoid forclosure

[bocanot]

Good point but maybe they were not technically bankrupt. Their payments were falsely deferred due to the husband's temporary job loss due to the hurricane. Countrywide tried to help them but their corresponding bank (who bought/owned the mortgage) refused to defer the payments. The family had to make up several months worth of loans or face foreclosure. Someone at Countrywide dropped the ball somewhere. It's been about six months now, I hope this nice family did OK.

[swanginhills]

Whats going on within CW is a race between CW's foreclosure department and whats called their workout department. The workout dept wants to work with you to get your loan back to current, but the foreclosure dept has to continue their process. These departments are given deadlines by the investors who back those countrywide mortgages. The more time they spend on either working with you or foreclosing, the more cost they incur from investors, such as Fannie Mae, as well as foreclosure attorneys.

[awakenedwarriors]

May God be with you all. Please ignore the evil comments that evil people make. There will be many many more people that will be homeless too. This is all in the governments plan of the new world order. There's gonna be a revolution!!! Americans need to wake up to what is going on. our lady of the roses foretold of all the horror

[jvolstad]

You don't have a least one mortgage payment set aside in savings?

[rydar1978]

Pleased don't judge these poor folks. With the way things are going, you will be right behind them rather you rent, own, or not!!!

[rusf77]

Agree 100% with rydar1978. How can people judge misfortunes like this, if it's not them they can care less, this video got to me. I dunno how some people related with all this mess, can sleep at night. "Seriously".

[amyven]

I am not judging this couple, because this could happen to anybody. My husband and I could get ill, and we could lose our home. It's devastating! Bad things do happen to good people. However, I control my destiny, and I have to deal with my misfortunes. And, trust me, we've had a lot of financial blows in our lives. But instead of trying to figure out how somebody else would bail me out, I took a look in the mirror and I asked myself "Did I contribute to any of this problem?"

[plenty2say]

I almost took a loan from Countrywide. The scumbag told me that a 15-year ARM was the BEST option. When I heard that I stopped everything dead in its tracks. Thank God. Americans, STOP WATCHING TV AND READ YOUR MUTHAFUCKING PAPERWORK!

[MrDThorn]

I was an Underwriter with a major company and I can tell you that sales rep were making 80k a month and fraud was almost never reported to the authority. Based on the loans I saw approved the worst is yet to come.

[MrDThorn]

Never trust anybody period!!!!!!!!!! You have to be shrewed!!!! I bet the husband followed his wife, women are easy conned and the men follow or else no Sex!!!!!!!!!

[chl2421]

Where is your responsibility? A few days caused you to loose your home?Did you buy too much home? $16-121k loan caused you to lose your home? WOW

[unioncarpenter157]

When are Americans going to wake up and take their country back from this corporations all that is left is Revolution

[xxx12345yyy]

Why buy a house you cannot afford? Did you read the contract? Retards.

[plenty2say]

Countrywide is full of shit, but at the end of the day you gotta do your homework.

[WhiteJewDevil]

when the world revolts aginst government,will be the best day of my life

[sugeday666]

These people bought more home than they could afford

[tyrell92]

Countrywide you need to do the right thing!

[thetimman00]

Your contract with them cannot be modified unless it is in writing. Don't believe verbal modification.