Countrywide Announces Bailout Plan for Borrowers
San Gabriel Valley Tribune › October 23, 2007
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Summary
3:50 p.m. CALABASAS - With foreclosures mounting, Countrywide Financial Corp. announced a $16 billion bailout plan on Tuesday for borrowers who might lose their homes because of a mortgage rate reset.
A top company executive promised generous flexibility for borrowers whose hybrid adjustable loans are now or may soon be unaffordable.See the full content of this document
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Countrywide Announces Bailout Plan for Borrowers
"In some cases we won't even invoke the payment reset," Steve Bailey, Countrywide's senior managing director of loan administration, said in a conference c...
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