On a personal note: Two days ago I cancelled my Bank of America credit card due to their purchase of Countrywide. I told them that I was ceasing all financial realtionships with them due to their purchase of Countrywide.
Bank of America cannot be trusted.
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Got word yesterday that Countrywide will now service my loan (previously George Mason). It's a little scary...
ReplyDelete"Bank of America cannot be trusted. "
ReplyDeleteI learned that one at the age of 17. B of A in Southern California thought they could sucker me because of my age. With a little more persistence, I could have had an interesting lawsuit on my hands that would have made them out to be monsters. My grandfather was foaming at the mouth. It was my senior year and I had other things to worry about. Their attempt barely failed, so I moved on to another bank with only friends and family to smear them to this day.
Katy
ReplyDeleteYou have every reason to feel scared. They're under investigation for hiding "... negative effects of “teaser” loans, including rising rates, prepayment penalties and negative amortization. Countrywide paid greater compensation to brokers for loans with higher interest rates and prepayment penalties, the suit said, because it could sell those loans for higher prices on the secondary market." http://www.consumerwarningnetwork.com/2008/07/02/fl-attorney-general-sues-countrywide/