Just thought I'd share this with all of you embroiled in Countrywide horror stories.
Today when I was checking my email, a big flashing banner ad for Countrywide came up, the advertising states "can your bank match our great CD rates?".
I have noticed this before. World Savings Bank, another predatory mortgage lender, advertises in the local paper trumpeting their CD rates as being about 2% higher than other banks.
Where are these sleazy banks getting that "extra 2%" to pay on the accounts for their CD customers? From screwing their mortgage customers! Think about it. All financial institutions are hurting right now because the interest rates are so low. Their loans aren't raking in the cash, and they can't pay rates that get deposits from customers. So, they all have to invent ways to raise capital. More bank fees, more fine print, less disclosure, more rip offs. Some work within the letter of the law, most don't.
If you see an ad for a bank or financial outfit offering you a better return on your investment than the competition, rest assured there is a huge reserve of ripped off customers lining up to sue them on the other end.
I hope all of you screwed by this mortgage company get your justice soon. Good luck!
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