Did you know that BofA bought Countrywide??

[Trixie007]

I just talked to a collector at B of A (I called them, long story going in my blog lol) - he told me that a lot of people don't know this, but they just bought (or merged??) Countrywide!

The second mortgage of one of our homes is thru Countrywide, and BofA is our biggest cc creditor! This means.... the debt we are looking at having discharged by BofA is (current balance) about 183k - the balance of our debt, currently about 171k, is held by about 6 creditors. Not counting about a dozen little non-cc bills to be discharged.

Can you say ouch?

[katie]

I know how you feel. I'm worried about our stuff at Bank of America. We are going Chapter 7 on $35,000 cc debt and surrendering $65,000 RV both with BofA.

Guess who our mortgage and HELOC is with? Yep, BofA. They also (well until I get there Saturday morning) have 2 of our checking accounts and a savings account.

[Trixie007]

They also (well until I get there Saturday morning) have 2 of our checking accounts and a savings account.

LOL... good idea! That sounds like an accident waiting to happen!

[jribe]

I just talked to a collector at B of A (I called them, long story going in my blog lol) - he told me that a lot of people don't know this, but they just bought (or merged??) Countrywide!

The second mortgage of one of our homes is thru Countrywide, and BofA is our biggest cc creditor! This means.... the debt we are looking at having discharged by BofA is (current balance) about 183k - the balance of our debt, currently about 171k, is held by about 6 creditors. Not counting about a dozen little non-cc bills to be discharged.

Can you say ouch?

They actually bought them last July. It was all over the news then- and a big part of the reason their stock is fairing so poorly right now..

[Trixie007]

They actually bought them last July. It was all over the news then- and a big part of the reason their stock is fairing so poorly right now..

That's interesting then, because we never heard a peep from Countrywide (we've had the loan since 2005) and the guy at BofA said it just happened... hmmmm. Maybe they're just now transitioning accounts, I have no idea.