Be Careful Who You Do Business With

Dranddad Said...... Several months ago I tried to buy a property which had been foreclosed by Countrywide bank. I tried to write an offer and the real estate agent told me that Countrywide would only accept an offer with a pre-approval letter from Countrywide. I then called Countrywide and asked them to clarify. I advised them that I used the Farmers Bank of Willards and Hebron Savings Bank and that I would provide a pre-appoval letter from one of them. The male loan officer stated that the offer must be accompanied by a letter from Countrywide - even if I was going to use another bank. They further advised me that they would issue the letter for a "non refundable fee" of $1000.00 for which I would receive a credit at settlement if I chose to use their bank for the mortgage. I advised them that they were engaging in illegals business practices by requiring someone to use their bank. I asked for the name of the agent and his official capacity. They were quickly learning that I hadn't just fallen off the turnip truck. He stated that he would talk to his supervisor and call me back. That call never came. I called them back and spoke to a female agent who stated that the other agent must have been mistaken. Right. I purchased that property using my bank without the letter from Countrywide. Got a good deal on it. Today, I came across this website. http://www.countrywidehomeloansucks.com/contact_me.htm. The site lists some information your viewers may want to know if looking for a mortgage co.