Countrywide under heavy pressure to help borrowers avoid foreclosure, announced an expanded program to help people with subprime mortgages stay in their homes.
The program created by the largest U.S. mortgage lender and the Association of Community Organizations for Reform Now, or ACORN, comes as hundreds of thousands of borrowers nationwide face rising rates on their […]
Countrywide To Expand Its Foreclosure Help Program
February 11th, 2008 · 2 Comments
Tags: Avoiding Foreclosure · Mortgage Refinancing
California Hires Foreclosure Help Counselors
January 17th, 2008 · No Comments
A group of mortgage lenders and non-profit organizations have pledged $4.6 million to allow foreclosure prevention counseling agencies in California to hire more staff to deal with strong demand from struggling homeowners, the companies said Monday.
Mortgage counseling agencies statewide can apply for funds from the two-year spending program, dubbed the California Home Ownership Preservation Initiative, […]
Tags: Avoiding Foreclosure · Foreclosure Information
Bank of America to Buy Countrywide, Merrill Lynch Writes takes a $15B Writedown
January 11th, 2008 · No Comments
Merrill Lynch, the nation’s biggest brokerage firm, is expected to announce a $15 billion write-down on soured mortgage-backed securities, far more than analysts expected. Investors took the setbacks as a sign that the financial industry is still reeling from last year’s collapse in the subprime mortgage market. The New York Times reported on […]
Tags: Mortgage Notes