If you own stocks on these companies, You better SELL them off quickly

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runrunrun_IHB

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Better SELL these stock now before it is too late



Countrywide Financial Corp., GMAC Financial Services, Litton Loan Serving and HomEq Servicing.



These companies are not going to reset interest rate when they come due and will fix all notes to the initial interest rate.



Better unload these stocks now before they tank big time.
 
<p><em>"These companies are not going to reset interest rate when they come due and will fix all notes to the initial interest rate</em>".</p>

<p>Link to the article that states this please.</p>
 
<p>Never mind, found it. <a href="http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/11/21/BUG5TGAIA.DTL">Governor, 4 big lenders agree on plan to stall high mortgage rates</a></p>

<p>Key quote:<em> "If you have a mortgage through Countrywide, GMAC, Litton or HomeEq, you <strong>might</strong> qualify to have your introductory interest rate <strong>temporarily</strong> frozen".</em></p>
 
<p>Once again, less there than meets the eye. It's just a stall. Countrywide is going down anyway most likely.</p>

<p>I've said it before and will say it again: there is almost certainly nothing anybody could do about the impending disaster. If there were, I'd be for it, but there isn't. Countrywide and the rest will probably make a tad more money than they would otherwise, when they will have some money coming in, rather than no money. For a while.</p>

<p>My other mantra: some money is better than no money. This isn't bookkeeping anymore, it's a ginormous settlement negotiation.</p>
 
<p>Does anyone know the specifics of the "penalty" facing the person who took out the loan? Eg. Will they get the benefit of a fixed/extended low rate, but then their credit gets ruined, etc... Or are all of these careless people going to be simply forgiven without any sort of "pinch?" If that happens, I'm jumping on the bandwagon before it is too late... has this society completely walked away from individual responsibility? Why am I getting so pissed off?</p>
 
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