This was sent to me about a week ago and I just opened ity now because it was from another broker and was just marked boycott against Countrywide Home Loans please read and pass along.  Does anyone have any information on this? Is this true?

FOR IMMEDIATE RELEASE:
Press Release - October 11, 2007

Reporters May Contact:
Darren Duarte, Director of Public Affairs
Work: 617-250-6222 cell: 617-501-0721, dduarte@naca.com

Bruce Marks, NACA CEO
Work: 617-250-6222; cell: 617-835-4477, email: bmarks@naca.com

(Jamaica Plain, MA) - On Thursday October 11th at 12:00 p.m. at NACA's headquarters (3593 Washington Street, J.P, MA), a nationwide boycott of Countrywide Financial Corporation will begin. The boycott of the nation's leading mortgage lender is being led nationally by the Neighborhood Assistance Corporation of America ("NACA") and locally by the Massachusetts Alliance to Stop Predatory Lenders. NACA is working with other local organizations to take the boycott nationwide.

Thousands of working families are losing their homes to foreclosure because Countrywide has put them in unaffordable mortgages and now refuses to restructure loans to what homeowners can afford. Since Countrywide has become the leader in these predatory practices, NACA has teamed up with the Massachusetts Alliance to kick-off the campaign to get Countrywide to change its practices or be shut down. "Countrywide is the number one example of the abuses in the subprime industry." states NACA CEO Bruce Marks. "This boycott includes actions at many of Countrywide's over one thousand offices nationwide. Angry and frustrated Countrywide borrowers will now be able to take action against them. People thinking about obtaining a Countrywide mortgage or a Certificate of Deposit will be discouraged from funding their predatory activities. By changing or defeating Countrywide, other lenders and servicers will follow."

Martin Dolloff from Raynham Mass, a Countrywide borrower states "Although we knew the interest rate was not fixed, we were told we could refinance to a fixed within 6-12 months. When we contacted them to do so, they were unwilling to help us." Boston City Counselor Chuck Turner, spokesperson for the Mass Alliance to Stop Predatory lenders, states, "There are hundreds of thousands of homeowners like Martin with unaffordable mortgages that need to be restructured. It is unconscionable that Countrywide would create a crisis yet but unwilling to resolve it."

One of America's chief banking regulators agrees that a standard needs to be in place to help these homeowners before a financial and moral disaster strikes once interest rates reset. FDIC Chairman Sheila Bair has called for a freeze on interest rates on subprime adjustable-rate mortgages (ARM's) for many homeowners. "Keep it at the starter rate. Convert it into a fixed rate. Make it permanent. And get on with it." So far, Countrywide isn't listening. That's why NACA and the Massachusetts Alliance Against Predatory Lenders are leading the way to boycott Countrywide. People should not choose Countrywide as their mortgage lender or as a place where they invest their money.

Countrywide borrowers along with other homeowners at risk of foreclosure and supporters will meet at NACA's National Office at 3593 Washington Street, Jamaica Plain, MA on Thursday October 11, 2007, for a noon Press Conference before fanning out to various Countrywide branches to confront Countrywide.

About the Massachusetts Alliance Against Predatory Lenders:
This coalition of taking on the fight to stop Countrywide and other predatory lenders from preying on Massachusetts homeowners. The lead organizations are NACA, City Life, Green Rainbow, and Office of Chuck Turner.

About The Neighborhood Assistance Corporation of America -:
NACA, a national non-profit community advocacy and homeownership organization established in 1988, has been the lead organization in the fight to identify, expose, and oppose predatory lending and exploitive lending practices. NACA first exposed Fleet Bank's lending abuses in 1991, followed by numerous other campaigns against companies that victimize low- and moderate-income people pursuing the dream of homeownership.

NACA provides one mortgage which is the best in the country requiring on downpayment, no closing costs, no points, no fees, no perfect credit at a below interest rate currently 5.625% 30 year fixed. NACA has $10 Billion committed to this mortgage with more than 30 offices across the country providing working people and an unmatched program and national model for doing mortgage lending the right way. NACA's program and advocacy have been featured in the national and local media nationwide. In April 2007, in response to the subprime lending crisis, NACA committed One Billion dollars to refinance homeowners out of their unaffordable loans, constituting the largest commitment to homeowners to date.

NACA has recently done numerous interviews with media throughout the world in addressing the subprime crisis in the United States and its world-wide impact. Bruce Marks, NACA's CEO, was recently in London on the show Global Players on CNBC which is a monthly show with a world-wide audience of over 300 million viewers.