Colli Real Estate

Do You Have a Countrywide Loan?

 

As you know, my partner is a licensed attorney in the state of California. Providing  Loan Modifications  for distressed homeowners requires a solid understanding of the law as well as the ability to read financials. Last night we printed out the Countrywide Financial judgement handed down by the California Attorney General.

 

How many Loan Modification companies will be able to understand this decision as it applies to you? If you don’t use us as your modification company please use a company that has an attorney on staff or better yet, as part of the heiracy within the company. Only then are you guaranteed solid representation.

 

Countrywide was directed to modify loans that fall within the catagories of Pay-Option, Sub-Prime adjustable-rate loans,Subprime fixed loans, Alt A and prime loans. The October,2008 decision also required them to see if borrowers qualify for the Hope For Homeowners Program and to offer to place qualifying borrowers into that program.This is not restricted to California. Attorney Generals in ten states are participating in the settlement.

 

What does this mean for you? What is the bottom line?

 

Eligible borrowers are to be modified no later than 60 days after they make contact with the “applicable CFC Server.” Countrywide also has until March 31,2009 to demonstrate to the court that they have modified not fewer than 50,000 loans nationwide. Relocation assistance is also available to borrowers who will not qualify for a modification.

 

If you have a Countrywide Loan, please call our office to see how we can facilitate the Loan Modification process for you. If you have a loan with another lender, please be aware that most lenders are participating in some sort of loan modifications. To apply requires an in depth analysis of your current financial situation. Call us for a free analysis.

 

About the Author

Chuck Machado is a partner with CMA Capital Funding Inc and is considered a commercial mortgage specialist. He is currently working with homeowners in and their lenders in Loss Mitigation and Loan Modifications.

CountryWide Entire Story

Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis $3.32 An updated and revised look at the truth behind America’s housing and mortgage bubblesIn the summer of 2007, the subprime empire that Wall Street had built all came crashing down. On average, fifty lenders a month were going bust-and the people responsible for the crisis included not just unregulated loan brokers and con artists, but also investment bankers and home loan institutions traditionally…

Countrywide $3.99 By Tommy Emmanuel. For guitar. Jazz; Pop. Guitar TAB. 10 pages. Published by Hal Leonard – Digital Sheet Music

The Foreclosure Of America: Life Inside Countrywide Home Loans And The Selling Of The American Dream $9.99 Now in paperback-an inside look at Countrywide Home Loans and the mortgage crisis from a former mortgage lender executive. In July 2004 Adam Michaelson attended a high-level meeting at Countrywide Financial headquarters about a new loan product that would allow borrowers to pay less than their minimum monthly payment. The "finance jocks" believed that the booming housing market would only get bigger supporting homeowners in a cycle of borrowing against their houses and refinancing later. They were wrong. And when the bottom dropped out Countrywide suffered the consequences-as did millions of Americans. With an insider’s knowledge and thorough reporting on the impact on American families and the ripple effects on the economy Michaelson examines the marketing of a mirage and the bad business decisions that destroyed a company confronts the ethical questions that have arisen in the wake of the foreclosure crisis and offers creative proposals to prevent such a meltdown from ever happening again.Now in paperback-an inside look at Countrywide Home Loans and the mortgage crisis from a former mortgage lender executive. In July 2004 Adam Michaelson attended a high-level meeting at Countrywide Financial headquarters about a new loan product that would allow borrowers to pay less than their minimum monthly payment. The "finance jocks" believed that the booming housing market would only get bigger supporting homeowners in a cycle of borrowing against their houses and refinancing later. They were wrong. And when the bottom dropped out Countrywide suffered the consequences-as did millions of Americans. With an insider’s knowledge and thorough reporting on the impact on American families and the ripple effects on the economy Michaelson examines the marketing of a mirage and the bad business decisions that destroyed a company confronts the ethical questions that have arisen in the wake of the foreclosure crisis and offers creative proposals to prevent such a meltdown from ever happening again.

Foreclosure Of America: Life Inside Countrywide Home Loans And The Selling Of The American Dream $7.39 Now in paperback-an inside look at Countrywide Home Loans and the mortgage crisis, from a former mortgage lender executive. In July 2004, Adam Michaelson attended a high-level meeting at Countrywide Financial headquarters about a new loan product that would allow borrowers to pay less than their minimum monthly payment. The "finance jocks" believed that the booming housing market would only get bigger, supporting homeowners in a cycle of borrowing against their houses and refinancing later. They were wrong. And when the bottom dropped out, Countrywide suffered the consequences-as did millions of Americans. With an insider’s knowledge and thorough reporting on the impact on American families and the ripple effects on the economy, Michaelson examines the marketing of a mirage and the bad business decisions that destroyed a company, confronts the ethical questions that have arisen in the wake of the foreclosure crisis, and offers creative proposals to prevent such a meltdown from ever happening again.Now in paperback-an inside look at Countrywide Home Loans and the mortgage crisis, from a former mortgage lender executive. In July 2004, Adam Michaelson attended a high-level meeting at Countrywide Financial headquarters about a new loan product that would allow borrowers to pay less than their minimum monthly payment. The "finance jocks" believed that the booming housing market would only get bigger, supporting homeowners in a cycle of borrowing against their houses and refinancing later. They were wrong. And when the bottom dropped out, Countrywide suffered the consequences-as did millions of Americans. With an insider’s knowledge and thorough reporting on the impact on American families and the ripple effects on the economy, Michaelson examines the marketing of a mirage and the bad business decisions that destroyed a company, confronts the ethical questions that have arisen in the wake of the foreclosure crisis, and offers creative proposals to prevent such a meltdown from ever happening again.

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