October 31, 2007

Countrywide Toxic Mortgage - We lend money to people who have absolutely no chance of ever paying it back!



Knowing what we know now, this Countrywide TV commercial should explain everything.

23 comments:

Anonymous said...

wow.how old is that ad? If it's from 2005 it makes sense. If it is from 2007 you have to ask WTF?

zoiks said...

This video will be used to prosecute 2 different crimes:

1) The outrageous loan standards of CW during this bubble.

2) The murder of that chick's original lips, whose bodies I suspect they'll be digging up out of the woods of Marnier's Park.

Anonymous said...

my brother in law just got laid off from mozzillo's crew on mon.
he plans to move back in w/ his parents.

Veronica Lodge said...

RE: Countrywide Toxic Mortgage - "We lend money to people who have absolutely no chance of ever paying it back!"

To a fee motivated industry, the plan made perfect sense:

Loan money on inflated homes to people who can barely pay the teaser rate and then refinance them -- before the teaser rate ends -- into even bigger toxic loans. Repeat as necessary.

Unfortunately, all Ponzi schemes eventually play out and those who stay in the longest lose the most. With the exception of The Big Orange, that is.

V.L.

Anonymous said...

"nobody should do what countrywide can."

Paul E. Math said...

That's a great business plan there, Orangelo. How's that workin' out for ya?

Anonymous said...

.




"No one can do what countrywide can"


Nor should they!



.

Anonymous said...

.




There are some things in life that shouldn't be done at all!




.

Anonymous said...

now i know what the creative talents behind freddy got fingered have gone onto...

ace said...

these commercials are very funny .. they advertise no fees, no costs...

In my book that equals NO PROFIT for Countrywide..

what a great business model you have Angelo....

Anonymous said...

1/4 point cut!!! yeahawwww. Sweet!

Now I can take out another loan and buy me some Christmas presents!!!!

Sorry Keith, you should of bought yourself a house and used it up as an ATM, thats the way it is and always will be. The sheep must follow the sheep.

Anonymous said...

I made MILLIONS off Countrywide stock the last three days!!!

How are those shorts doing?!?!?

DOPES!

Anonymous said...

"finds ways to make loans"

Too bad those ways don't even make sense.

Anonymous said...

"An illegal alien strawberry-picker who makes $15k/yr.....A speculator with no money down or income verification.....A $50k/yr civil servant who NEEDED to buy a $750k home....we approved them all...NOBODY WILL HAVE MORE R.E.O.'S THAN COUNTRYWIDE WILL!"

Frank@Scottsdale-Sucks.com said...

Scottsdale thanks Countrywide.

Anonymous said...

When It Takes a Miracle
To Sell Your House
Owners, Realtors Bury Statues
Of St. Joseph to Attract Buyers;
Don't Forget to Dig Him Up


Cari Luna is Jewish by heritage and Buddhist by religion. She meditates regularly. Yet when she and her husband put their Brooklyn, N.Y., house on the market this year and offers kept falling through, Ms. Luna turned to an unlikely source for help: St. Joseph.


Some choose to bury St. Joseph upside down.
The Catholic saint has long been believed to help with home-related matters. And according to lore now spreading on the Internet and among desperate home-sellers, burying St. Joseph in the yard of a home for sale promises a prompt bid. After Ms. Luna and her husband held five open houses, even baking cookies for one of them, she ordered a St. Joseph "real estate kit" online and buried the three-inch white statue in her yard.

"I wasn't sure if it would be disrespectful for me, a Jewish Buddhist, to co-opt this saint for my real-estate purposes," says Ms. Luna, a writer. She figured, "Well, could it hurt?"

With the worst housing market in recent years, St. Joseph is enjoying a flurry of attention. Some vendors of religious supplies say St. Joseph statues are flying off the shelves as an increasing number of skeptics and non-Catholics look for some saintly intervention to help them sell their houses.

Some Realtors, too, swear by the practice. Ardell DellaLoggia, a Seattle-area Realtor, buried a statue beneath the "For Sale" sign on a property that she thought was overpriced. She didn't tell the owner until after it had sold. "He was an atheist," she explains. "But he thanked me."

Existing-home sales fell 8% in September to a seasonally adjusted annual rate of 5.04 million units, the lowest level in nearly 10 years, according to the National Association of Realtors.

pwnd

ZZwcck said...

Maybe citimortgage is going to let Countrywide get their feet back under them by pulling out of California...

http://tinyurl.com/2kx388

Anonymous said...

true story - my sister in law got a 600K loan from countrywide on a salary of 30K for a home in california. the countrywide agent TOLD her to put 150K as her salary, five times reality.

now the house is for sale, no takers, and they are about to walk away since the monthly carrying costs are $4,000.

un-effen-believable.

Anonymous said...

.



I made Millions off Countrywide stock the last three days!

Yeah, Gee that good thing!


F'n idiot
.

Princess Mononoke said...

OMG! I just watched this 10 minute youtube video... Wow! I felt like all of my thoughts & notes on the current state of affairs were somehow telepathically transmitted to this man who created this video. It blew me away!

http://www.youtube.com/watch?v=-mxDsgcMk54

Perhaps there is something to be said about those cosmically connected. Sharing the same consciousness!

Anonymous said...

Why should country wide care.

With the just opened federal house lending bank,(fhlb) securitization just gets chunked to the taxpayers now, instead of the pension funds and insurance companies.

So many new scheitt sandwiches to distribute, so little time!

a.creampuff said...

That video made some good points, but was weak on what we can do about the nexus of criminal lending and politics, not to mention the war and outsourcing. It also scrolled by too fast and did not identify the head shots.

Princess Mononoke said...

Dear a.creampuff:

yes I know but it is a start. It is still very effective in tugging at the hearts of the people.

Some of us are already feeling like we've been pushed to the wall. You get to a breaking point when you say "enough is enough". You get tired of silently watching the "rape of the world". I'm sure you can agree that it takes a lot of courage to stand up the bureaucrats’.

You start by identifying the problems, what needs to be changed, altered, and transformed? Then you get vocal about it and start sharing with others and start finding out that others feel the same way as you. The solutions are obvious.