Countrywide to Rework Subprime Mortgages
According to an article USA TODAY, Countrywide Financial plans to rework $16 billion in home loans by modifying or refinancing the loans of 82,000 borrowers who are facing foreclosure.
While it is in Countrywide’s self-interest to do so, this move may benefit Countrywide borrowers who are in default because of interest rate resets which have occurred [...]
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