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Originally Posted by pgardn
If they already paid for your house (or sold the mortage to someone else), and you are paying them... should be no problems. I mean if the people who you bought your house from got their money... I would think you are in the clear?
I think its the people trying to buy, or a sale is pending that are getting popped cuz Countrywide is low on cash to finance. So the housing market just backs up cause no buying can occur. I think this is the problem... along with the after effects of this.
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This is correct, but I think she was referring to the people who thought they were getting a deal with their variable rate mortgages who can now no longer afford their monthly payment. American Home Mortgage went down the tubes last week too.