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After spending 8 years in the mortgage industry, I would never deal with Countrywide if at all avoidable, the stories I have heard, and the problems I have helped clients deal with have been nightmares created by them to keep clients from using any other companies but them, while jacking up their rate and fees when clients fall for it.
When the rep says, "we can't receive your money in multiple checks and you mention that the company has previously transacted business that way...and they agree to delete previous checks from their system to have "one" check...should you not believe that rep?
How about this one...you own multiple pieces of property, you sell one building plus 50 feet. A new survey is drawn, indicating that 240 feet, plus the two adjacent lots should compose a "new" commercial lot to be sold, you pay for title insurance and recording fees, and the agent brings the wrong, "old" survey, to be recorded. You put the piece on the market not knowing things have been done incorrectly...and wonder why the deal with Dollar General falls through...the catch is CHICAGO TITLE refuses to make things right...any suggestions?
I bought a short sale and the seller had her mortgage with Countrywide and I know a friend who should be denied for a mortgage was indeed denied by Countrywide....but the sales rep. from KB homes knew some scumbag who could do the deal anyway....my friend was smart enough to walk away from the home and I thought Countrywide denied them for a good reason and that was also the way my friend thought about it and it was in the middle of selling all kinds of ARM's...so IMo that was positive on Countrywides side....but as many people, you can get as many stories.
I got a great mortgage from them. For those people who don't read what they sign, maybe they do get taken advantage of. But the loan officer I dealt with was great, answered all questions honestly and in a timely manner. I believe they recently merged with Bank of America, right?
I got a great mortgage from them. For those people who don't read what they sign, maybe they do get taken advantage of. But the loan officer I dealt with was great, answered all questions honestly and in a timely manner. I believe they recently merged with Bank of America, right?
They were bought by Bank of America yes, kind of like a "bail out" since they were running out of funds and could not raise capital very well.
You hit it right on that comment, if you have a good loan officer almost any bank will be great. If you have a bad one....
Go to CountryWide, Bank of America or any bank (or any profession actually) and you will find different levels of skill, training, experience and integrity. Some companies have a higher % of bad people than others, which is where a bad reputation develops... but all companies have their share.
As for CW.... Indiana is the latest state to sue them over "deceptive" practices towards consumers. Not sure if Bank of America will be able to profit from them, there are a lot of liabilities that came with that purchase.
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thousands from accounts and another question
