June 08, 2007

I can't believe what I'm seeing. Here's your chance HP'ers to own a "Countrywide Owned Property". COP. Wow.



I'm truly amazed and that doesn't happen much. "Countrywide Owned Property". Is that like "Lexus Pre-Owned". A badge of distinction? A mark of quality?

Oooh, nice home Bob. Is this a 'Countrywide Owned"? Very nice!!!

Here's Countrywide's website where they list all the homes where the owners simply walked away and gave Countrywide back the keys, and Countrywide couldn't pawn the stench off to your pension fund or China.

Take it for a run, and let me know what you think. And to think, we're just getting started. And yes, Desperate Homedebtors who want to sell aren't just competing with the desperate homebuilders (who dropped prices at least 10% last month in their firesale). They're competing against the lenders who just want the dead wood off their books.

I've linked to the Arizona page, and it's amazing to see the number of homes $500,000+.

Nice move Orange Angelo cashing out those hundreds of millions of $$$ of CFC stock. Nice f*cking move Angelo.

Looking for a bargain on a home?A Countrywide owned property (lender-owned), also sometimes referred to as a REO (real estate owned) home or property is often a way to get a good deal on a home or an investment property. You can use the tool below to search for Countrywide owned properties in your area.

21 comments:

Anonymous said...

Too 'big-boned' for a singlewide, doublewide, or a triplewide?

Start living large and move on up to a C{o}untrywide!

Anonymous said...

LOL! I almost pissed my pants on this article!

SeattleMoose said...

Intel Inside
Baby Onboard
Lexus Pre-Owned
FDA Approved
Official Size And Weight
and now...CountryWide PreOwned

All tired, all irritating, and all cause the exact opposite reaction of what was intended....

Anonymous said...

Nice try Oompa Angelo Loompa. Doesn't he look like one of the Oompa Loompas?

Anonymous said...

“Currently, nearly 3% of the homes for sale in Southern California are owned by lenders, according to ZipRealty, up from a fraction of 1% a year ago. ‘Volumes are increasing, definitely,’ said Patrick Carey, the executive in charge of foreclosed properties at Wells Fargo & Co.’s real estate division.”

“The San Francisco-based bank is managing more than 800 bank-owned homes for sale in Southern California. So far, lenders aren’t offering fire-sale prices, but that could change if sales remain slow and lenders slash prices to clear their inventories.”

“‘They will make a contribution to the erosion in property values,’ especially in neighborhoods that attracted marginal buyers with shaky credit, acknowledged Robert Kleinhenz, deputy economist for the California Assn. of Realtors. But he added, ‘How this plays out both directly and in a market psychology sense is going to be difficult to estimate.’”

stuckinthecity said...

CHICAGO 1745 E 73RD PLACE #1,
CHICAGO, IL 60649 Condo GARY WEGLARZ 773-7798500 $121,900.00



CHICAGO 1817 W. 69TH STREET,
CHICAGO, IL 60636 SFR DAVE NORBERTE 773-3048333 $69,900.00



CHICAGO 1819 SOUTH SAWYER AVE,
CHICAGO, IL 60623 Duplex JACK STEMPIEN 773-2056100 $179,900.00



CHICAGO 2047 W 69TH PLACE,
CHICAGO, IL 60636 SFR GREGORY WILSON 773-4885990 $71,900.00



CHICAGO 2058 NORTH LAWLER 2,
CHICAGO, IL 60639 Condo MARK FIRLEJ 773-2822700 $139,900.00



CHICAGO 2101 W 52ND PLACE,
CHICAGO, IL 60609 SFR GARY WEGLARZ 773-7798500 $16,900.00



CHICAGO 211 E OHIO # 309,
CHICAGO, IL 60611 Condo GARY WEGLARZ 773-7798500 $434,900.00



CHICAGO 2111 SOUTH HOMAN AVE,
CHICAGO, IL 60623 SFR DAVE NORBERTE 773-3048333 $139,900.00



CHICAGO 2227 W ADAMS ST,
CHICAGO, IL 60612 SFR DARYL RUSSELL 708-3394679 $304,900.00



CHICAGO 2308 N MANGO AVE,
CHICAGO, IL 60639 Duplex JACK STEMPIEN 773-2056100 $259,900.00



CHICAGO 231 NORTH LA CROSSE AVENUE,
CHICAGO, IL 60644 Duplex MARK FIRLEJ 773-2822700 $117,900.00



CHICAGO 255 WEST 105TH PLACE,
CHICAGO, IL 60628 SFR SANDRA HALLIBURTON 773-7232890 $29,900.00



CHICAGO 256 W 112TH ST,
CHICAGO, IL 60628 SFR MARK FIRLEJ 773-2822700 $68,900.00



CHICAGO 2863 W BELDEN AVE,
CHICAGO, IL 60647 Duplex GREGORY WILSON 773-4885990 $338,900.00
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Jeeeez, most of the Chicago listings are stright up ghetto. They have to be flipper now called floppers. Tough crap boys!

Mort said...

Give orange man a break, it is every CEOs dream to unload their crappy company on a foreigner or pension fund. He is smarter than you, that's all.

keith said...

Another question is why wasn't Countrywide able to pawn off these mortgages as CDO's? Why did they get stuck holding the bag?

Anonymous said...

does it come with a Countrywide Certified Pre-Owned 100K mile warranty?

Anonymous said...

Subprime city. In my state 90% of the homes listed are smack in the middle of the ghetto. The price could be $10 and I wouldn't be interested.

And this is the reason I think the foreclosure issue is a little blown out of proportion. Maybe it's different elsewhere, but in my city seems like REOs are almost exclusive to the parts of town I won't live in. That or condos, which again I'm not interested in.

A 2500 sq ft home in an upsacle area...nothing doing REO wise for me and prices aren't falling either.

Anonymous said...

Spontaneous combustion is too good for Angelo.

Anonymous said...

Here is BOA's

http://bankofamerica.reo.com/search/

Every major mortgage lender w/ a major mortgage & web presence has this feature. Its a good way to get a post foreclosure property w/o having to go through the time/effort/pressure/risk of a sheriff sale. They could also be deed in lieu properties also.

These could actually be prime loans gone bad that the lender kept for their own profit/servicing. Sometimes even good loans go bad.

SPECTRE of Deflation said...

At this point, who wants to buy? Hell it's just in the early innings folks. Angelo is a f###ing theif!

devestment said...

Why the heck would I want a Countrywide Property when I can have a HUD property or FSBO for so much less?

Anonymous said...

Hahahahaha.... I was looking through the PA list on countrywide's site and I saw a house that I had talked to the owner about buying. I knew he was in foreclosure and I went to talk to him. He assured me that it was a mistake and he had everything taken care of... "Don't bother me again, I'm not selling or moving..." Well... Now his house is a countrywide REO....

Dumb@ss....

While waiting for the market to make it's death plung, remember that denial is huge... It will take time to move into fear, but once we do... Man what a ride we'll be in for.

On other news, Bill Gross of PIMCO said that the 10-year note will be at 6.5% in 3 years. That will put conforming 30yr fixed rates in the upper 7% range. That'll put the collapse into full afterburner.

Things are slow to crash because you can still get low rates. I've seen 30yr fixed rates at 5-5/8's still for the right person... Once it gets in the high 7's it'll be hard to move anything. I'm still buying and selling sub-median homes because fist time buyers can still get great loans and it's cheaper then renting. That changes when it's over 7%.

Stephen said...

Nice try Oompa Angelo Loompa. Doesn't he look like one of the Oompa Loompas?

-------------------

Wow. He really does.

Orangelo Mozillo

Anonymous said...

" Another question is why wasn't Countrywide able to pawn off these mortgages as CDO's? Why did they get stuck holding the bag?"

Countrywide was unloading their crap loans to offshore investors for the past three years - they aren't stupid. The problem is they replaced them with "better" paper from BoA, Wells Fargo, etc., and these loans are now starting to default on a much bigger scale than anyone predicted.

ZZwcck said...

I tried CA and it didn't come back. Anybody had luck with that?

Phineous said...

Leatherface just exercised options for 6,375 shares @ $13.24 and sold them the same day for $38.99 apiece:

http://tinyurl.com/29z939

And wants no shareholder voice in CEO pay:

http://tinyurl.com/34yhl4

Anonymous said...

You think your so smart do ya?

Well my plan is to purchase all of Arizonia for my retirement for pennies on the dollar and so fuk you!

-Angelo M.

desertoakie said...

It is comforting to know that Angelo will burn in hell.