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Mesa, I agree with you 100%. But their troubles do NOT stem entirely from foreclosures. I have had to deal with them and they are truly THE most disorganized company I have ever dealt with. Eight months after a foreclosure they still can't tell me if they have forgiven my debt or intend to pursue a judgement. That, and there are many horror stories out there about them; mine is one. If anything got them into trouble, it was their own greed followed VERY closely by mismanagement. For that guy to leave with that much cash IS a crime. For BOA to pay it without a fight is a crime too. One hundred million dollars is a chunk of change, even for BOA, if that figure is correct. -
Originally posted by mesa777 View Post
People always ask why why why... for this question?.. My answer is all found in his employment contract originally drawn/offered by CW to him for his performance promise & EARLY termination clause with due diligence.
If they don't pay, he will sue the contract and they will loose in court.. costing MORE money. Simple as 1-2-3!Leave a comment:
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One thing on the Country Wide/B of A deal that I just LOVE is that the CEO of Country Wide will be leaving his post with a payout of $100,000,000.00!!! WHAT A CRIME that is!! UNREAL how you can RUIN a company and leave with over $100,000,000.00 dollars!!! UNREAL... ONLY IN THE GOOD OL' USA!!Leave a comment:
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Yup its officially out, BOA did buy COuntrywide.
Wow... what a mess for BOA...Leave a comment:
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No it's not going to affect your mtg at all. And as for the forelosure taking longer, well it's taking banks about 6 months right now to get that done. But once you file your BK, these companies will ask for the auto stay to be removed so they can step in and sell that house as quick as possible. I'm going through that right now with three of my houses.Originally posted by RickInMich View Post
And your final question, no this merger is not going to mess with anything.Leave a comment:
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I'm kind of clueless about all this, but will this affect our mortgage with Countrywide? We're thinking of letting the house go anyway. I'm hoping that this buyout could mean it would take them longer to foreclose on the house. Wishful thinking, of course, but a guy can dream!
Actually, I guess I have a bigger question!! We have included Bank of America in our bankruptcy. So I'm wondering if that is going to create problems for us.Last edited by RickInMich; 01-11-2008, 07:05 AM.Leave a comment:
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They are crazy I am going now to pull our cash out the little we have! I see them going down in flames!Leave a comment:
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Country Wide
Bank of American is purchasing CountryWide Financial.
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