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Countrywide?

rolandovichrolandovich
edited February 2007 in Housing Bubble
Any one care to guess how long it will be before Countrywide seeks banktruptcy protection?

I am betting between 30-60 days depending on the success of the spring bounce.

Comments

  • bilirubenbiliruben
    I don't care to guess.

    I hope soon, because I've been shorting them for longer than I care to admit, but they're better capitalized than most. They could be one of the last big fish after most of the small fry get eaten, and perhaps have a decent long-term outlook with less competition.

    Or they could get bought.

    I think they will simply eventually take a bath, but I don't know about BK. That would be mighty sweet, from viewpoint, but the timing of any event is impossible to predict.
  • synthetiksynthetik
    bili:

    what do you think about shorting or a leap PUT on PMI?
  • T, V & Mr. B.T, V & Mr. B.
    Does anybody know how many NOD's are coming in at the moment for the Greater Seattle area?
  • MatthewMatthew
    My brother in law works for Countrywide financial. The money he has made the last 5-6 years is disgusting.

    They have over 15 10,000 dollar Fujitsu plasma televisions in their 6 million dollar LA home. I have a feeling the good times may be coming to an end shortly however.
  • T, V & Mr. B.T, V & Mr. B.
    No offense to your brother Matthew, but I have to say, I once had a mortgage under country wide and I hated them. I hated their service, I hated everything about them. Of all the mortgage companies out there, I hope they collapse. Sorry, nothing personal, just mho.
  • MatthewMatthew
    Don't worry, I'm rooting for a collapse of LA in general. I was born there and love the city, but it has turned into a cesspool of everything materialistic and wrong in America.

    My sister and bro-in-law personify the LA culture to a T. A readjustment of priorities would be good for them. IMHO.
  • T, V & Mr. B.T, V & Mr. B.
    Yeah, So Cal aint what it used to be. I brought my wife up here and she is a So Cal native. She doesn't miss california, she misses the old california. Those days are gone forever and Hell-A can drop off into hell for all I am concerned. And take Country Wide Rip Off with it.
  • bobb0bobb0
    T,V,&Mr B

    Why the hate of Countrywide?
    What besides their custumer service did you dislike so much? We had a mortgage with them at one time, it was simple to obtain, and when we had a problem it was resolved to our satisfaction.

    bob
  • T, V & Mr. B.T, V & Mr. B.
    I had a total of 4 problems with them and none of them were resolved expediently or whith out a couple of hours on the phone. They then sold my loan to Homeside....which I was very very dispeased with. But they turned out to be a bit better.
    The thing is, my credit is phenomenal and becasue they messed some things up, I had to dispute things on my report. I finally had it all cleared, but it was worse than pulling molars out.
  • synthetiksynthetik
    I've had two mortgages with Countrywide and had a number of issues with both of them. Horrible customer service.
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