Home : Blogs : Michael Schindler : Michael's Blog

Do you have a Countrywide Option Arm?

In our ongoing effort to meet the needs of our customers, Countrywide will waive prepayment penalties (PPP) to facilitate the refinance of all Countrywide-owned Pay Option ARMs. Note: Countrywide Home Loans or Countrywide Bank, FSB must be the current holder of the subject loan. If the customer's loan is held by another investor, Countrywide is not authorized to waive the PPP.

Approximately 50,000 PayOption ARMs out of the existing Countrywide servicing portfolio have been identified as eligible for this waiver. Countrywide Loan Servicing will contact all qualifying customers to explain that the prepayment penalty has been waived.

If you have one of these, you probably already received a letter about this but, since we all get so much junk mail, you might not have opened it.........

Please let me know if you need any help with this-or have any questions.

Again, this pertains to Countrywide Option Arm customers. I will gladly also look at and give a mortgage review for any other mortgage holders from any company.

Happy Friday!

Posted by Michael Schindler on 09/26/2008 08:28 AM

Comments (4)

Countrywide in the ActiveRain Channel

optin arm, countrywide, mortgage, loans

This post has been included in Minnesota Information
Post is included in group: Minnesota Professionals
Post is included in group: Mortgages
Post is included in group: The Art Of Marketing You

4 Comments on Do you have a Countrywide Option Arm?

OCT

2008

Hi I was wondering if you can help me I have a countrywide arm taken out in 06 I didnt get what I was initially told now I have two loans and I cant afford them anymore\

can I email you privatlely?

yes you certainly can.

NOV

2008

Does this apply to all ARM/Options for all CountryWide Mortgages nationwide? I think we did receive something a few months ago but tossed it, thinking it was junk mail.

We have a 5/1 Option and now will not qualify to refinance with a documented mortgage. We have several family members contributing to keeping the family home afloat but their credit scores would prohibit them from being on the mortgage. I am told there are no more Low Doc mortgage.

all our payments are current at this time. Any suggestions?

All the holders of Countrywide option arms are "savvy investors" who have been repositioning their deferred interest into mutual funds and investment grade insurance products, I'm sure they are fine!

Leave a response…

Name:

Email:
(optional)

Comment:

What does the graphic say?