Countrywide Home Loans Assures Homeowners and Home Buyers That They Still Have Many Mortgage Loan Choices

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100 percent loans still available to many qualified homeowners and buyers

We want to assure homeowners that there is still an extensive selection of mortgage loans to suit a multitude of personal and financial circumstances

Countrywide Home Loans, Inc., a member of the Countrywide Financial Corporation family of companies, America's #1 home loan lender,* wants to assure homeowners and prospective home buyers that there is still a broad range of mortgage loan choices available to them. Financial market conditions have required many lenders to make revisions to some loans offered to homeowners who have less-than-perfect credit, often known as subprime borrowers. In addition, there have been changes to some loans that fall between the prime and subprime categories. However, the majority of America's homeowners and home buyers still have access to a wide range of mortgages, including no downpayment loans, or 100 percent financing.

"We want to assure homeowners that there is still an extensive selection of mortgage loans to suit a multitude of personal and financial circumstances," said Tom Hunt, managing director of Countrywide Home Loans. "We recognize it's been widely reported that some major lenders, like Countrywide, no longer offer 100% financing. In fact, we have made changes to certain subprime and other special mortgage programs, but we have not eliminated 100% financing. We still offer one of the widest selections of low- and no-downpayment options to qualified customers, including those with less-than-perfect credit."

Countrywide offers a few tips to homeowners or home buyers who are seeking a mortgage loan:

1)    Don't Panic. While there is a lot of news about changes in the mortgage market, most consumers will still be able to find a mortgage loan that fits their circumstances.

2)    Talk to a reputable lender. When you're ready to refinance or purchase a home, be sure you speak with a reputable lender who can offer you a wide array or loan choices.

3)    Get the lowdown. Ask your lender to thoroughly explain each mortgage loan type you are considering and be certain you ask questions until you completely understand your loan options. If you choose an adjustable rate loan or a mortgage with other unique options, learn how the interest rate or other features may change over time and be sure you are comfortable with those changes.

4)    Take advantage of historically low rates. Remember that interest rates are still at historical lows. Regularly "manage" your mortgage to ensure that your loan and its terms still match your current personal and financial situation. If changing life stages or other circumstances call for a mortgage change, you may want to take advantage of today's relatively low interest rates.

As with any financial decision, consumers should carefully evaluate their options and fully understand the advantages and disadvantages before making a change. Borrowers should evaluate the new loan's mortgage payment structure and schedule to ensure that they feel comfortable with the monthly payment and understand the risks associated with the prospective mortgage.

*About Countrywide Home Loans, Inc.

Countrywide Home Loans, Inc., - a member of the Countrywide family: America's #1 home loan lender as ranked for 2006 by Inside Mortgage Finance (Feb. 2, 2007), Copyright 2007 - originates, purchases, securitizes, sells and services home loans and is the primary subsidiary of Countrywide Financial Corporation (NYSE: CFC). Countrywide Financial Corporation, through its subsidiaries, provides mortgage banking and diversified financial services in domestic and international markets. Founded in 1969 and a member of the S&P 500 and Fortune 500, Countrywide Financial Corporation is headquartered in Calabasas, California and its family of companies has a workforce of more than 50,000 in over 900 offices across the country.


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