Numbers That Just Don’t Add Up
If you’re getting into the mortgage lender game, you better bring your calculator. Lawsuits have been filed against Countrywide, the largest lender in the United States. The suit claims that Countrywide Mortgage has been overcharging their customers in the form of hidden costs. Meanwhile, there is no concrete evidence showing the justification for the higher costs and many of them now face foreclosure due to the rising costs. It also claims Countrywide uses threats of foreclosure to basically extort money from borrowers. Homeowners are also frequently charged $300 to $500 for “drive-by” home inspections done by appraisers.