Re: What happens to my mortgages if CountryWide goes bust?
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Countrywide is the largest lender in the country in terms of dollars. They are NOT going bust. They have 5% of their loans in the subprime market. The market as a whole has 15% subprime loans. They are downsizing because the mortgage business is slowing down a lot due to the overall slowdown of the housing market. Dont believe the hype.
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I'd say they're 15-20% to go bust in 5yr. 10% or so in the next year.
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