Reply #19: Countrywide REFUSED to give us a home loan because...

[Pathwalker]

we wanted a fixed rate loan for less than HALF of what our home is worth. Instead, they offered us a variable rate loan, but only if we made the loan for 100% of our home's worth. This was in 2005, when we wanted out of the variable rate mortgage we already had - but for less than half its worth. Sure, we'd have gotten almost $100,000 in the equity we've built up through the years, but we didn't want to touch it.
According to the mortgage broker, Countrywide wasn't even offering fixed rate mortgages back then, and we were stupid for refusing to cash out our equity. It got rather heated between my husband and the broker, who liveD half a mile from us. My husband said he should be ashamed of himself - he said he was laughing all the way to the bank, and was making money hand over fist. Unfortunately for him, though, HIS house is now in foreclosure and is on the market. We went across the street to a smaller mortgage company, and got the fixed rate mortgage at a good rate, for the amount we wanted - we walked out of the closing with a check for $28.00, and with a payment we can easily make each month.

FUCK Countrywide. Anyone who thinks they were honest brokers must not have dealt with them.