Countrywide Home Lending is taking a big step to help stem the flow of foreclosures on their sub-prime loans by injecting $16 Billion for borrowers who need to refinance. With late payments and property foreclosures on the rise, Countrywide it trying to help these home owners save their properties and keep them in their homes. Here in Central Florida this comes as great news as foreclosures have hit an all time high and home owners are struggling to make payments.
Countrywide is expected to refinance around $10 Billion in loans and modify another $4 Billion. For those homeowners who have financing through Countrywide and are running into trouble, call one of there Mortgage Lenders to see what options are available. This might just be the only option that saves many owners in Central Florida from losing their homes.