We had our 341 meeting all ready, we get to keep our house wich was threw COUNTRYWIDE,bbbbut we just got a letter telling us that they sold our loan to BANK OF AMERICA who we owed like 20000 can that affect any thing?
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No, can't affect anything. BTW, BOA owns Countrywide now - this is just a procedural thing for them. BOA bought them early 2008.
Here is recent article on the rebranding aspect:
Bank Of America Rebrands Countrywide
Countrywide Home Loans signs came down and Bank of America Home Loans signs went up at the lender's 215 storefront offices in California over the weekend as the first step in the rebranding of a name that has become became "too toxic to resuscitate," as one analyst puts it.
"It's the end of an era in the country, but times change," says co-founder Angelo R. Mozilo's. More recently, the company has been linked with high-risk loans, Mozilo's huge paydays and FBI investigations and has become a liability for Bank of America, which snatched it up last year as it neared collapse, E. Scott Reckard reports. Countrywide has nearly 1,300 mortgage offices nationwide.
BoA also pledges to serve customers by keeping loans simple and affordable and explaining them clearly -- a response to complaints about past lending practices. "What I hear time and time again in focus groups is that people want no gimmicks, no surprises," says Barbara Desoer, president of Bank of America's mortgage and insurance unit.
Filed CH 7 9/30/2008
Discharged Jan 5, 2009! Closed Jan 18, 2009
I am not an attorney. None of my advice is legal advice in any way..
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