exCFC emp

Countrywide CEO Finds Struggling Homeowners “Disgusting”

Ryan...if they have the intelegence to get on the internet and find that "canned" letter, then they could also dial the toll free 800 number and ask for help before they go too far in default. The thing people don't understand is that these lenders do not want your house. It cost too much to foreclose. They want to help their customer when in need, but cant if you are too far in the hole. If you have a mortgage, then you know how to talk and ask for help. All I am saying is do it early and with your own words.

By the way...not all of these people were taken advantage of. Most knew what they were doing and now using this as an excuse.

Countrywide CEO Finds Struggling Homeowners “Disgusting”

I believe what Mozillo was disgusted with was the fact that so many letter that are coming in are with the same wording as if they all have the same issues. All people have different reasons why they are going bad. They need to contact their lender/mortgage holder and be honest if they want the help...don't use a canned letter to ask for help. Angelo made an honest mistake of sending to the wrong person. He has every right to dislike the canned letters that are flooding his mailbox. These borrowers should be calling customer service as soon as they think they will be late the first time, not when they are rolling 90 days late and ready to go 120.