Hey Guys -
As some of you know, I used to be a big fan of Countrywide -- having used them for several of my loans in the past due to good customer service by my local agent and the ability to get me good rates with decent closing costs.
Well, a lot has changed since then. Recently I was purchasing a house to flip and I shopped all over to get financing for it because of the credit crunch. Countrywide was one of the banks that I contacted which quickly denied me financing.
I ended up going with a small local mortgage broker who was able to secure me financing at a smaller lender.
1 Month after closing the deal I got a note in the mail that my loan was being sold, and who do you think bought it? I'll give you 1 guess:
.
.
.
.
Countrywide!!!!
ROFL.... If these guys would have just worked with me up front they could have made so much more money, since they ended up with my loan anyway. Now they are going to LOSE money because they bought the loan at a discount, and I plan to have it flipped and paid off in a few months.
And that my friends is one of the reasons why Countrywide is going down like the Titanic...
- Hakrjak
As some of you know, I used to be a big fan of Countrywide -- having used them for several of my loans in the past due to good customer service by my local agent and the ability to get me good rates with decent closing costs.
Well, a lot has changed since then. Recently I was purchasing a house to flip and I shopped all over to get financing for it because of the credit crunch. Countrywide was one of the banks that I contacted which quickly denied me financing.
I ended up going with a small local mortgage broker who was able to secure me financing at a smaller lender.
1 Month after closing the deal I got a note in the mail that my loan was being sold, and who do you think bought it? I'll give you 1 guess:
.
.
.
.
Countrywide!!!!
ROFL.... If these guys would have just worked with me up front they could have made so much more money, since they ended up with my loan anyway. Now they are going to LOSE money because they bought the loan at a discount, and I plan to have it flipped and paid off in a few months.
And that my friends is one of the reasons why Countrywide is going down like the Titanic...
- Hakrjak
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