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Monday, February 11, 2008

Countrywide expands scope of mortgage help

February 11 2008
Plan would offer loan modifications for both fixed and adjustable loans and to borrowers who've already fallen behind. Countrywide Financial says it will expand programs to help borrowers manage their mortgage payments regardless of the type of subprime loan they have or whether they have already fallen behind on payments. Countrywide, the nation's largest mortgage lender and home loan servicer, has sought to address the growing number of defaults on its books by modifying loan terms, working out long-term repayment plans and other actions. The company said last month it helped more than 81,000 borrowers keep their mortgage payments manageable in 2007.

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