Alright, I want you people to school me real quick. I’ve been reading these stories about the Countrywide mortgage company getting mean and nasty with foreclosures, and the Countrywide CEO leeching huge personal profits from the company — Krugman even compares Countrywide to Enron.
Now normally, financial news just flies by my bleary eyes and is ignored, but the name in this case perked me up: the mortgage on my house is through Countrywide. Do I have to worry?
I wouldn’t think so. We got our mortgage at a good, low fixed rate some years ago, we haven’t had any problems keeping up on the payments (the cost of living in Morris is wonderfully low), and we don’t foresee any reason to trouble a lender in the future. But I have noticed an annoying uptick in dunning phone calls from Countrywide “offering” to renegotiate the mortgage (we neither need nor want to), and now all this chatter has me losing confidence in them.
I know there are economics wizards and smart legal minds among the readers here. Reassure me.