Countrywide Home Loan

Countrywide Home Loan - Equity? Where?

How does a company provide millions of loans to millions of people who cannot find financing elsewhere? Thats the question Countrywide Mortgage sought to answer when they rolled out the countrywide home loan. Bad credit home loan opportunities and home loans for the underrepresented came rolling out, ready to bring more people into their own homes than ever before. And to a large part they've been successful. Keeping them in the homes has proven to be the Maginot line.

A beneficial mortgage without the perks

In order for the countrywide home loan to become the high-yield product it is today, a large amount of generalization and assumption was required:

• Their loans are designed for a general person with a general credit score and a general income - not you the specific home buyer with three kids, two jobs and $100,000 in the hole from your days at Brown. These loans are not for the individual.
• And they're not for the people who actually want equity to be a part of the bargain - interest only terms and ARMs dominate the countrywide home loan scene.

This emphasis on homeownership before thinking about the future is fine just so long as interest rates stay low and home values increase at a steady pace. But rates are on the rise, home values are skyrocketing and property taxes are rising right along with them. The cost of a home loan is always increasing - you can thank the corporate megaloths for that.

Bringing the countrywide home loan home

A countrywide home loan is there for people who desperate want a home at all costs - these are not the loans for people looking to profit immediately off their investments, and they are certainly not for the people with financial nuances that must be catered to.

About Us | Contact Us | Site Map | What's New | View as RSS