Re: What happens to my mortgages if CountryWide goes bust?
 

CW recieved another huge bailout from an unnamed source today.......the stock is up 8% on the day.

Re: What happens to my mortgages if CountryWide goes bust?
 

[ QUOTE ]

Keep the faith buddy, ride it down to 0. Being the largest lender does not make them immune from a collapse. They are the largest lender for a reason. They were giving every Tom, Dick, and Harry a loan. No documentaion, no nothing. All of their mortgages are suspect...subprime, alt-a, prime. You are just kidding yourself if you think they will recover. Their only out is a buyout. 150 mortgage companies have gone bust, soon to be 151.

[/ QUOTE ]

Faith, ride down to 0? what are you talking about? I don't own them I just dont think they are going bust. I dont even have a loan with them. If they were to go down, that would be very bad. So can you tell me when they are going bust, that is how soon? Since you seem to know.

Re: What happens to my mortgages if CountryWide goes bust?
 

[ QUOTE ]

It's actually 7%. When you include alt-a, the percentage of problem loans is much higher.

You're in denial. What difference does it make how big they are? Have you actually read any of the news stories about them the last six months?

[/ QUOTE ]

I don't think Im in denial, I guess time will tell! The reason their size makes a difference is because as the largest lender, they will obviously have the largest number of loans in default, largest number of subprime loans, largest amount of money loaned to risky borrowers so they are mentioned on the news more than the smaller companies. I think that you have to have some knowledge of the market as a whole and take other things into account when reading stories. You cant just always take everything you read at face value.

Re: What happens to my mortgages if CountryWide goes bust?
 

[ QUOTE ]
[ QUOTE ]

It's actually 7%. When you include alt-a, the percentage of problem loans is much higher.

You're in denial. What difference does it make how big they are? Have you actually read any of the news stories about them the last six months?

[/ QUOTE ]

I don't think Im in denial, I guess time will tell! The reason their size makes a difference is because as the largest lender, they will obviously have the largest number of loans in default, largest number of subprime loans, largest amount of money loaned to risky borrowers so they are mentioned on the news more than the smaller companies. I think that you have to have some knowledge of the market as a whole and take other things into account when reading stories. You cant just always take everything you read at face value.

[/ QUOTE ]

It's obvious from this sort of response that you have done zero work on this stock. You are the target audience for gull's "buy index funds" posts, because you are a fish in the stock market.

Re: What happens to my mortgages if CountryWide goes bust?
 

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]

It's actually 7%. When you include alt-a, the percentage of problem loans is much higher.

You're in denial. What difference does it make how big they are? Have you actually read any of the news stories about them the last six months?

[/ QUOTE ]

I don't think Im in denial, I guess time will tell! The reason their size makes a difference is because as the largest lender, they will obviously have the largest number of loans in default, largest number of subprime loans, largest amount of money loaned to risky borrowers so they are mentioned on the news more than the smaller companies. I think that you have to have some knowledge of the market as a whole and take other things into account when reading stories. You cant just always take everything you read at face value.

[/ QUOTE ]

It's obvious from this sort of response that you have done zero work on this stock. You are the target audience for gull's "buy index funds" posts, because you are a fish in the stock market.

[/ QUOTE ]

Feel free to post here when Countrywide goes bust. If you think based on a couple posts in this thread you have enough information to call me a fish in the stock market then you my friend are a fish in the game of life.

Cheers

Re: What happens to my mortgages if CountryWide goes bust?
 

I certainly don't thing we have see the worst of this situation yet........sorry to say.

I also think the stock market is set for a heavy decline soon.

Commodities are the way to go right now.......gold/silver/sugar/corn/beans/coffee to name a few.

Re: What happens to my mortgages if CountryWide goes bust?
 

[ QUOTE ]
I certainly don't thing we have see the worst of this situation yet........sorry to say.

I also think the stock market is set for a heavy decline soon.

Commodities are the way to go right now.......gold/silver/sugar/corn/beans/coffee to name a few.

[/ QUOTE ]

QFT

Re: What happens to my mortgages if CountryWide goes bust?
 

Talked with my CW banker last week and he told me it was the PRIME loans that has the company in trouble, not the SUBPRIME loans.........and he stated they are really hurting right now.

I have been slowly moving my money out of CW and into other financial banks.

Do I think my money is safe at CW?........yes, they are insured by FDIC up to 100,000 per account.

Would I buy there stock.......hell no!

Re: What happens to my mortgages if CountryWide goes bust?
 

[ QUOTE ]
I also think the stock market is set for a heavy decline soon.


[/ QUOTE ]

Please define "heavy" and "soon" as you are using it in context. In case you don't have a ticker handy the DOW is within 150 points of an all time high right now.

Jimbo

PS: Unless I missed it you never told me why Jim Cramer's prediction of the DOW at 14548 by years end will cause many people to go broke either.