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Member Since: 5/2007Last Seen: 11/24/2009

Deal with Countrywide to help 21,000 in IL keep homes

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Illinois, California and at least six other states have reached an $8.8 billion settlement of their lawsuits against Countrywide Financial, the biggest subprime mortgage lender, in a deal that should help some 21,000 Illinois residents keep their homes.

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Illinois, California, Iowa, Ohio, Texas, Arizona, Washington and Connecticut had agreed to the Countrywide settlement program by early Sunday evening. North Carolina, West Virginia, Indiana and Michigan were still in settlement talks, a Countrywide spokesman said.

This is very good news for those homeowners in IL CA OH TX AZ WA and CT affected by the Countrywide implosion!!! Let's hope this calms the panic-stress-grief caused by this horrible crunch.

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    Reply#1 - Wed Oct 8, 2008 2:37 PM EDT
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