Countrywide Freezing Home Loans

Interview with Faith Bautista with Mabuhay Alliance on Countrywide Home loans. Freezing home loans and not notifying the cosumer that their account has been frozen and suspending any future accounts with Countrywide.

Category:

News & Politics

Tags:

• Countrywide
• Freezing
• Home
• Loans

[inkey2]

yeh, look at the "expensive" homes they are showing. People buy a home they can't afford then try to live pay check to pay chect with equity loan checks. ...what the hell is the point? I have a 715 square foot condo I now "own". Sure, I wanted a 2000 foot condo....but I had the common sense to know that I can't afford it and also knew that I would have no savings, no cash safety net if I bought the big condo. LISTEN: "you cant always get what you want" as the Rolling Stones song goes. GROW UP.

[tonya2583]

Haven't you heard of interests rates doubling or tripling. It's not a matter of affording the Confo or Home. It's about the interests rates going through the roof.

[tonya2583]

You might have a ton of money but the working class that's trying to make ends meet don't have that type of money. Plus now the foreclosure rate is hitting the thousands and the banks think they can just go from a mortgage like $1,600 a month to $6,000 a month.

[tonya2583]

It's not all about just affording a home you can buy it's about how fucked these banks hit everyone now the banks are all fucked because they think they can do what they want to do and get a way with it and now thier forced to work with the home owners.

[tonya2583]

How do you think CountryWide went from billions to now being shutdown and being taken over by Bank of America. It's because they think they can just go fucking balistic with their rates and stay afloat so yes Bank of America now owns CountryWide. It's a little more than just your simple Condo dude!!!!

[tonya2583]

It has something more how the Banks fucked everyone, more about how they fucked everyone with Interts Rates. It's not just Countryide but tons more banks so you can't just sit there thinknig that it's just about affording the home but about how wrong they did the entire Home Owners that tried to own something that they worked so hard to get to. A piece of the Rock. Their dream of owning their owm home.

[dave98503]

I used to work in the collateral room in the west valley of the san fernando valley. I was there for 4.5 years until a layoff and then 2 months later they closed and switched to "scanned" files. All the permanent women there were criminals, argumentative, tattoo smoking, ghetto, very overweight...nothing against those people...but they were just plain lazy and constantly lost Home Loan Funding files...and I had to do most of the work. Some of them had robbed people in the past. Just bad.

[inkey2]

yeh, while the mortgage company "might" be at fault to an extent....the home buyer is just as much at fault for placing "buying a home at ANY cost" above the common sense of insisting on "30 year FIXED". Did they honestly think that mortgage rates would NEVER go up in 30 years.....ARE YOU KIDDING ME?????

[inkey2]

@daniel679867 you missed my entire point......you "always" go 30 year fixed and you do not buy what you can't afford.

[daniel679867]

@inkey2 number one smart ass yes interest rates do go up but if you got the loan at one rate thats the rate you pay the rate goes up thats for the people that are getting loans at that time and country wide and every fucking employee that worked for them are just as much of a crook as country wide is and always will be crooks.

[LonghornRepublic]

there is no level playing fields you feeble minded trusting dumbasses. we have foreclosed on houses illegaly and there is nothing you can do about it. they ignore history. did you ever think that the stories about world history that you heard in high school and college would include you someday, reach out and feel it you are them now.

[inkey2]

nothing you are saying has anything to do with the fact these idiots accepted the most "deadly" type mortgage in the industry. you dont have to be rich to know about 30 year fixed mortgage...I worked "retail" all my life....did you look at my posting....i live in 700 square feet and you think I am RICH?.....do you have any idea how small 700 square feet is? it's like a garage.

[inkey2]

to tonya2583: sure tonya, I have heard of interest rates doubling....but what kind of moron would accept a mortgage that was not a FIXED RATE 30 YEAR. Only a total idiot would go for an adjustable rate mortgage. This is as obvious as saying don't walk in front of a moving bus. Sounds like their stupidity was doubling a well as their rate.