208,078 New Listings - November 2009 - Last update November 20, 2009 12:30 PM EST 
COUNTRYWIDE WANT TO HELP WITH FORECLOSURES
The financial corporation known as Countrywide has recently announced publicly that it will operate and closely work with a community action group. The group known as ACORN, the Association of Community Organizations for Reform now has been known to be against Countrywide for the corporations lack of effort to assist with people facing foreclosure. Now working hand in hand they hope to provide a service for troubled home owners with a prevention initiative for the home owners that are facing the dreadful prospect of foreclosure. The corporation and ACORN are looking to find an opening to launch the operation in the new year.
ACORN has a past where Countrywide is concerned, staging many protests in Countrywide’s major offices such as Miami, San Jose, New York, Baltimore and also in Cleveland. ACORN was adament that Countrywide was not doing nearly enough to stop foreclosures from happening and not helping the people and families facing foreclosure.
ACORN has subjected Countrywide to many interrogations suggesting that they should begin to change the loans terms and conditions where foreclosure is concerned, in effect helping the people and families facing foreclosure. One of ACORN’s main considerations was that Countrywide should help people and families vunerable to foreclosure, by first of all changing the adjustable rate loans to the fixed rate type of mortgage to ensure they would not have to suffer when the rates go on up again.
Maude Hurd, ACORN’s President believes that this is the only long term solution available. He thinks that payment plans that are simply out of reach for many troubled home owners and small short term changes to the home owners loan is just not good enough. He thinks these short term solutions will not help the home owner release themselves from trouble and therefore eventually face foreclosure anyway.
There have been strikes and boycotts along the way from the unions that help the textile and hotel workers of the bank offices that belong to Countrywide. The said boycotts are asking people not to have any money saved in Countrywides banks as they regularly mistreat their customers.
Since the first declaration of the working initiative between ACORN and Countrywide, it is reported that Countrywide have since changed the terms and conditions of nearly 13,000 mortgages and loans in November this year. This is a massive step forward of you consider the amount they modified last November, which was a measly 800 in comparision.
Countrywide have recently reported that they have stopped and prevented over 69,000 foreclosures and thats just this year. They have said that over 11,000 loans have been changed to long term payment plans and also showing forbearance on over 4,000 loans. Countrywide have also suggested that they have helped troubled homeowners by letting them sell their homes in quick sales and allowing over 1,000 homeowners the opportunity to sell the house and if the whole loan is not covered they are let off with the rest of the debt owing to the company.
Hopefully these two organizations can work well together in helping the people who are victims of rate rises and increasing costs of everyday living.
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Countrywide is not telling the truth. I have my mortgage with countrywide. It is an interest only, ballon payment that I was not informed of at settlement. I have been trying for the past year to get this payment refinanced to a lower interest rate to lower the payment, but have been refused by countrywide.
I also have had trouble with countrywide. I am so upside down in my home and it is getting to the point where walking away is the only option where I won’t be paying forever on my home. I called them to see if they could do a loan modification to lower my interest rate and my payment and they basically said too bad, good luck. They weren’t willing to do anything for me. I have to say I am very dissapointed. Unfortunately I am stuck with them because I cannot refinance anywhere do to the low value of my home compared to what I owe. I may end up having to walk away, go in to forclosure and file bankruptcy. Seems Countrywide would want to do more to help thier customers and not to mention thier own business. They would save a lot more money by lowering my rate then by me going in to foreclosure. Guess that is why their company isn’t doing so well.
Countrywide, is not helping anybody. All these new goverment bills that they sign to relief troubled homeowners does not apply to them. I am 3 months behind and they dont do anything for me. They lost my package for a modification request. Nobody was ever assigned to it but every time I called they told me that they would not be able to help me. They do have all the manpower to make their collection calls though.