To the tune of $16 billion dollars worth of loans and 82,000 borrowers affected. Countrywide is assisting both people who are current in their loans and those who have fallen behind. (Different terms to be met for each group). The Chicago Herald Tribune article about it is here.
There are loans adjusting this month, quite a few, but the loans involved in this announcement, if the story is correct, do not adjust until 2008. This should help a little bit and I hope those who can benefit from it will take advantage of it. The article talks about Countrywide reaching out to the borrowers…I guess they know people are reluctant to make the calls on their own. So if you are one of these borrowers, help may be out there for you. Peace out - 3C
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