[Sleeping Freeper]

A run on Countrywide....the largest mortgage lender.... talk of bankrupcy.... I'd probably be in line too....

[Tijeras_Slim]

I wonder how this will affect folks with CW mortgages? I have a 10 year fixed with about 4 years left.

[PAR35]

A run is only worthwhile if you have more than the insured limit in the bank. And if you’ve structured your accounts properly so that you have multiples of the insured limit, taking your money out can convert insured deposits into uninsured ‘deposits’ if you aren’t really careful.

[camle]

a company managed as badly as countrywide ought to fail. their entire processing operations cannot handle insurance policies of six months duration, only annual ones.

then they cannot send a check to the correct address, even when directed and hand-held.

they have offices to originate mortgages, but the staff therein cannot service them once they’re made.

[RightWhale]

So, what is happening today?

[Uncle Miltie]

‘scuse me, but aren’t deposits insured by the Feds?

[boomop1]

FDIC really means something if an investor.

[boomop1]

oop’s left out and they are FDIC insured.

[Gay State Conservative]

A run on Countrywide....the largest mortgage lender.... talk of bankruptcy.... I'd probably be in line too....

Looks like these folks have never heard of the FDIC.

[JZelle]

“a former Los Angeles Kings star hockey player “

Gretzky? First the old lady’s gambling and now this.

[jude24]

What the hell you doing with my money in your house, Fred?"

[blueheron2]

If the Fed keeps interest rates this high all hell is going to break loose. Home building in our area isn’t usually affected by the usual economic bumps but its in freefall now. I know some really fine builders and subcontractors that are past being in real trouble.
An aquaintance of mine says his monthly mortgage payment has doubled.

[nw_arizona_granny]

Ping.