Saturday, March 10, 2007

No more 100% financing from Countrywide!

Here's an announcement regarding Countrywide's decision to get out of the 100% mortgage lending business. Granted, this is just the subjective opinion of one lawyer who works on approx. 100 real estate transactions per year, but I see just tons of clients doing 100% financing using Countrywide...I think this is a big hit to the real estate market for 2007. I bought my first home using 100% from Countrywide (and I haven't defaulted yet!).

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