Do I think Countrywide should STOP advertising? YOU BET I DO! They are trying to screw more people just like me over! I’m trying to refinance my mortgage right now, but I’m having problems getting it done. A lot of mortage companies just don’t want to make new loans right now because of the economy. This is a seriously bad situation for Americans just like myself.

God Bless you all and best of luck to everyone! What ever happened to the American Dream?

Starring:

The Fed just cut their discount window rate by 50 basis points. For a good understanding of whats going on in our financial markets, I highly suggest The Big Picture which cuts through a lot of the economic cheer leading the mainstream media does.

The federal government just stepped in with a massive violation of the free market economy- not to save the poor little guy from loosing his house- but to save banks and hedge funds who were rightly paying for their mistakes of risky, high yield investments. This is moral hazard: the federal government has just told all the hedgies “Risk away boys, we got your back.”

This should be a train wreck of epic proportions. I can only hope those folks struggling to make their monthy mortgage payments don’t get foreclosed and pushed out into the street.

I wonder what P(r)esident Bush thinks of all this? My guess is he isn’t thinking about it at all. He’s going to go for another bike ride on his ranch. You know, his ranch where all the neighborhoods in the surrounding areas have “for sale” signs in every other front yard.

Heckofajob, Bushie!

Comment by michael

What were George Bush’s accomplishments before he was elected??? Bankrupt oil companies…failed ownership in professional baseball team…drunk and drug addict…

How lucky they are!!!

The rules have changed in incorporations favor! Gosh, what about those who borrowed money to purchased a home and just can’t afford it because….

1. lost their job

2. the interest has gone up

3. medical/family problems

4. loaned funds to high risk with balloon payments

5. fudged their figures in order to boost their ratings (maybe)

But, hey they can file bankruptcy, and you can’t!

Comment by michael — August 16, 2007 @ 10:18 pm

You are seriously interested in the accomplishments of “the muslim”? Hmmm…that would have to be Keith Ellison, the only Muslim we have in our national government at this time.

Since you asked, I direct you to his website, where I found he has introduced a bill having to do with this very thread topic! How’s that for bringing you back on track?

http://www.keithellison.org/news-antipredlend.htm

The question is who is stupid enough at this point to lend them any money? It looks like the adage “a fool and his money are soon parted” applies to the financial system too.

I go to Denny’s when I need to feel young again. :-D

I haven’t checked all the threads from today, has the Dog been around? Heh.
Comment by Zooey

Didn’t see the moron post, but I was fairly busy at work today, got off late and just got back from Denny’s hehe

For those of us who have our home loans with Countrywide: What happens to us if, hypothetically speaking, Countrywide does go belly up?

Comment by JPark

i dont have a mortgage anymore- as i paid off my home. smartest thing i ever did

http://www.thetruthaboutmortgage.com

I understand where you’re coming from. You’re assuming that because Countrywide is a lender that’s having problems that it will go under.

All I’m trying to add to this conversation is a little bit of factual substance.

I’m not a fan of Countrywide in the least…when I worked in the industry the company annoyed me because it stole a lot of my business.

I’d be the first one to tell you they were going down if I believed that to be the case.