Another State—Florida—Sues Countrywide
Last week, attorneys general in California and Illinois filed lawsuits against beleaguered mortgage lender Countrywide. On Monday, Florida threw its hat in the ring as well:
From Reuters:
Florida sued mortgage lender Countrywide Financial Corp. on Monday for predatory lending practices, alleging the company at the center of the U.S. mortgage crisis made subprime loans to people who could not repay them.
The Florida attorney general filed the lawsuit, which names Countrywide Chief Executive Angelo Mozilo as a defendant, in state court in Broward County, Florida.
So where might Countrywide's next legal jab come from?
From Portfolio:
Attorneys general from Connecticut and Iowa have also indicated they are weighing suits. The states seek restitution for borrowers who may have been victims of Countrywide's allegedly deceptive business practices. Senator Charles Schumer has also asked the Federal Trade Commission to investigate Countrywide's treatment of homeowners in bankruptcy.
Tags: Florida | mortgages | housing market | subprime mortgages | fraud
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Reader Comments
HOW DOES ONE GET INCLUDED IN THE LAWSUIT AGAINST COUNTRYWIDE
I WANT TO BE ADDED TO THE LAWSUIT AGAINST COUNTRY WIDE MGT CO WHATS THE PROCEDURE? ANY HELP WOULD BE REALLY APPRECIATED THANKS FRANK 239 560 5957 FASTFRANK@LIVE.COM
COUNTRY WIDE RUSHED AND CHEATED ME....
NEVER ASKED ME FOR MY PAY STUBS I TOLD THEM I MADE 325.00 A WEEK AND THEY UNDER ESTIMATED MY TAXES AND INS AND PUT ON PAPER THAT I MADE 2400.00 A MONTH I SAW IT 3 DDAYS AFTER MY CLOSING...DO WE HAVE TIME TO READ ALL THE CLOSING PAPERS ? NO ...I KNOW THEY DID FRAUD ON ME JUST BECAUSE I WAS PUTTING 80K DOWN ON MY HOME..
Countrywide questions
I am also with Countrywide. I got a loan from there a year ago. I moved here from another state. They told me because of that I had to have a high rate of 8 1/2 %.
They Let me do a loan with out showing any proof of income. They said it was because of my excellent credit score. They said I could re-do they loan once I got to Florida and once I got here, I was turned down for a loan. They also messed up our Ins on our home and now we have to pay part of it out of pocket.
We also have to pay a mortgage ins every month.
I would really like to talk to someone to see if we can join this lawsuit. We are having problems making the monthly mortgage.
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