NACA Calls For Boycott Of Countrywide Home Loans

Real Estate Broker/Owner with Boston Real Estate Solutions LLC
Here an article for those consumers who think choosing a mortgage provider is more about choosing the company than the person who is actually servicing the loan. Buyer beware... If you have the chance, also check out the video that is provided on the website on this link below...

BOSTON -- Community activists took their complaints directly to the offices of one of the country's biggest lenders and called for a boycott.

NewsCenter 5's Jack Harper reported that it was organized by the Neighborhood Assistance Corp. Dozens of protestors occupied the Jamaica Plain office of Countrywide Financial, which they describe as the nation's leading mortgage lender.

"This is the first office we've gone to the start of the boycott. The first office. They've got over 1,000 offices in the country. Obviously, the word is starting to get out before, because there are no customers," NACA's Bruce Marks said.

Many obtained adjustable mortgages and then encountered large interest increases and refinancing fees. They said the company knowingly put thousands of homeowners in unaffordable mortgages.

"I worked part-time jobs. I found all this money went toward my mortgage -- not talking about insurance, not talking about taxes, not talking about food when my kids were hungry," said Kevin Brown, of Everett.

"I will tell you something -- my stupidity is the stupidity and people with such greed. Honest to God, I wasn't trying to be greedy or have more then I could afford. I had to fix my furnace. That's why I refinanced, and I have to tell you, I am stupid, really stupid," said Mary Ryan, of Plymouth.

They're asking Countrywide to save face and their homes by rewriting mortgages.

"Right-thinking people have to stand together and say we have to shut Countryside down," City Councilor Chuck Turner said.

They left Jamaica Plain promising more protests around the country.


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Eliud Gautier
Acre Mortgage & Financial, LLC - Deptford, NJ
Branch Manager

I am planning a NACA process blog in in a matter of 60 to 90 days with specific details about how to manage your NACA clients so that they get qualified and through the process with fewer problems.

So for now Join NACA Insight Group and when I compile the various topics about the process in May/June 2008, I'll send you an invitation.

Click Here to Stay In Touch with Eliud Gautier

Apr 11, 2008 12:25 PM #1
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