4 Thoughts on CountryWide Home Loans Bankruptcy??????
  1. Reply
    lyllyan
    February 17, 2014 at 4:38 am

    Another company would buy your mortgage. You have to make payments on your mortgage regardless.

  2. Reply
    Leof
    February 17, 2014 at 5:04 am

    Yes.

  3. Reply
    Chris
    February 17, 2014 at 5:51 am

    Chances are CountryWide (if they BK at all) will go chapter 13: restructure of debt. They will most likely be able to continue servicing the loans they currently have.

    If not, they will sell of their loans to other investors; however this will NOT change anything about you loan except for where you send the check. The rate and terms will all stay the same. I’m a mortgage broker so I’ve been answering this question all day – if you are happy with the terms of your loan with CountryWide, keep it. If not, it’s time to explore refinancing.

  4. Reply
    skiingstowe
    February 17, 2014 at 6:33 am

    Hi,
    Not to worry, they just got 11.5 billion dollars to play bank with. But of they did, someone else would buy your loan.

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