Countrywide CEO Accidentally Emails Homeowner, Calls His Plea For Help "Disgusting"

Apparently Angelo Mozilo, the CEO of Countrywide, has never made a mistake and needed help (from, say, Bank of America,) because he thinks that homeowners who are desperately trying to refinance out of their disastrous home loans and avoid foreclosure are “disgusting” if they look to the internet for help writing letters.

Mozilo, whose inbox has been flooded with EECBs (executive email carpet bombs) from borrowers, apparently meant to hit forward, but instead replied to Daniel Bailey, a homeowner who is trying to stay in his home of 16 years. Bailey signed an adjustable rate mortgage and was told at the time that he could refinance after one year, before the payments became unaffordable.

From the LA Times:

Much of the language in Bailey’s message to Countrywide was borrowed from a form letter available at the website, a coaching service for troubled borrowers. Bailey, who says he operates a photo studio, posted his e-mailed exchange with the lender on a LoanSafe forum.

His original e-mail was sent to 20 Countrywide addresses, including Mozilo’s. Such mass e-mails have overwhelmed e-mail boxes at Countrywide, disrupting its operations and prompting Mozilo’s heated response, the company said.

“This is unbelievable,” Mozilo said in his e-mail. “Most of these letters now have the same wording. Obviously they are being counseled by some other person or by the Internet. Disgusting.”

Countrywide has issued a statement about the email:

“Countrywide and Mr. Mozilo regret any misunderstanding caused by his inadvertent response to an e-mail by Mr. Bailey. Countrywide is actively working to help borrowers, like Mr. Bailey, keep their homes.”

Countrywide Financial Chairman Angelo Mozilo’s e-mail sets off a furor
[LA Times] (Thanks, Kevin!)
(AP Photos/Susan Walsh)


Edit Your Comment

  1. Dobernala says:

    His face is disgusting! Yech.

  2. KIbbit says:

    what’s that thing about counting your chickens…

  3. KevinReyn says:

    Interesting – On one hand I have to cheer the guy at CW. His comment about the fact that they all have the same wording tells me he actually reads the messages. (Maybe)

    On the other hand open mouth insert foot.

  4. Geminijinx07 says:

    Not to bash the consumer here AT ALL but this is the issue I have with people using the EECB for minor annoyances and definite consumer errors – when something is actually EECB worthy, it gets ignored or pisses Executives off so the whole thing becomes ineffective.

    That said, bad form Countrywide. Bad form.

  5. EricaKane says:


  6. Invalid_User_Name says:

    Mozilo “regrets any misunderstanding.” Of course he does: I wonder if his comments to theSenate subcommittee were similar to his email.

  7. smirky says:

    Regret any misunderstanding????? What misunderstanding? The letter seems pretty clear to me.

  8. homerjay says:

    @Dobernala: yeah, he’s lookin’ a little “McCain-y”

  9. MeOhMy says:

    How many completely irrelevant form letter responses did he get from those 20 e-mail addresses, anyway? I think if you’re going to bitch about people using form letters you should not be using them yourself.

  10. midwestkel says:

    Thats funny.

  11. That-Dude says:

    What exactly is he calling disgusting?

  12. chenry says:

    holy crap, he looks like a burn victim D:

  13. warf0x0r says:

    I call Shinanagens on Country Wide and their CEO. I think Congress should give me the permission to beat this man with a broom for at least 8 hours… If not 10.

  14. skipjack says:

    A little sensational headline? The idiot CEO didn’t call the guy’s plea for help disgusting.

  15. ezacharyk says:

    @smirky: Seems pretty clear to me. The media misunderstood that this repsonse was only meant to be said BEHIND the customer’s back, not to his face.

    Pretty easy to understand.

  16. You’re not with me, leather

  17. Zanorfes says:

    does that picture of Mozilo look like a deer in the headlights?

  18. spoco says:

    Something similar happened to a friend of mine. Her son was running into some problems at school and could not get any help from the teacher. She cc’ed the principal on an e-mail, who meaning to reply just to the teacher, replied to all and said some pretty derogatory things about the kid and parent. The teacher replied, calling the son a “puss” before they realized their error. She did not report the matter to the superintendent, but the problem was taken care of.

  19. GoldHoops says:

    @skipjack: I think that’s exactly what he did.

    Also, how much is his golden parachute? Exactly.

  20. Zephyr7 says:

    They “…regret any misunderstanding…”? What kind of apology is that??

  21. Zephyr7 says:

    Ouch. A little inadvertent honesty there… always a dangerous thing…

  22. forgottenpassword says:

    yeah, heaven forbid they are being counseled by someone or the internet!!!!! *rollseyes*

  23. Perhaps there should be an EECB council that has to clear all EECBs before they happen – the earlier poster was exactly right – all these EECBs are just desensitizing Executives, or causing extra protective measures to be put in place so the truly important messages won’t reach them.

    I know losing your house is a big deal, but it should be resolved through the normal channels. Massive lying, deception, incompetence, etc. on a continual basis should be the only really good reason for an EECB – going around the system if it’s broken.

  24. @forgottenpassword:

    yeah, heaven forbid they are being counseled by someone or the internet!!!!!

    The internet offers counseling? I didn’t even know it was a singular being! Maybe it’s like the Borg.

  25. mhale0 says:

    Up against the wall with him

  26. evslin says:


    Yep, an informed consumer (or at least one with a modicum of ammo to help take on a big company) is definitely disgusting.

  27. LynchMob52 says:

    You think that if you were trying to save your house you would write a personal letter, not something copied and pasted from the internet. Then again its the same person who signed up for a ARM. I agree with Mr. Mozilo, this behavior is disgusting.

  28. Juggernaut says:

    Most of the old gang was there – Frankie the Wop, Freddie No Nose, Pete the Killer, Nicky Eyes, and Jimmy Two Times

  29. skipjack says:


    Perhaps it’s perception…IMHO the idiot CEO has called looking for help through other persons or the “borg”(lol) intrawebs disgusting.

    Just my 2¢

  30. backbroken says:

    “Countrywide and Mr. Mozilo regret any misunderstanding caused by his inadvertent response to an e-mail by Mr. Bailey.”

    What misunderstanding? There is no misunderstanding. ‘Mr. Tommy Lee Jones in Bat-Man’ thinks his customers are disgusting. I think we all understand that now.

  31. MelL says:

    @Zephyr7: A nice way of saying the consumer was too stupid to understand what they meant, but worded to make it sound like it might be an apology.

  32. LynchMob52 says:

    @backbroken: If you are going to send a letter to the CEO of a company pleading for help write it your self, else it is just SPAM

  33. backbroken says:

    It’s kind of funny, but I get about 3 junk mailings a day from Countrywide trying to sell their home equity loans. But a few consumers sending similarly worded letter looking for help is ‘disgusting’ to Countrywide?

    Worst company in America, I know who I’m voting for.

  34. dorkins says:

    “”Most of these letters now have the same wording. Obviously they are being counseled by some other person or by the Internet. Disgusting.”

    What’s the big deal? He’s saying it’s disgusting that they’re receiving tons of letters which look like they’re canned pleas, from people who now claim they didn’t know what an ARM was.

  35. dorkins says:

    @evslin: “Yep, an informed consumer (or at least one with a modicum of ammo to help take on a big company) is definitely disgusting.”

    Er, I think they’re now claiming (rather spuriously) that they were UNinformed … if you believe that, I have this bridge in Brooklyn …

  36. crabbyman6 says:

    I’m glad to see the Internet taking an active interest in the loan crisis.

  37. heavylee-again says:

    We’ve all sent emails talking about people that we wouldn’t want them to read themselves. I’m not defending the CEO, but we’ve all been there. But the timing of having a brain-fart and confusing reply/forward could not have come at a worse time for him.

    Also, I wonder what Bailey hoped to gain from the EECB. Did he expect that the Countrywide CEO would pardon the loan, or allow him to miss some payments? The homeowner is in a bad situation, but he wasn’t forced in to it.

    Lastly, I agree wholeheartedly with above posters who have said that it seems the EECB is being overused, thus desensitizing executives to it. Ideally, they’re supposed to envoke compassion from the recipient, but in this case anger was the only result.

  38. Juggernaut says:

    @heavylee-again: Bailey should have used the EECB to offer to take more flattering pictures of Angie

  39. strangeffect says:

    re: “misunderstanding”

    Dear Sirs,

    Eat Shit. I apologize for any misunderstanding.


  40. SuffolkHouse says:

    Why does the CEO look like a burn victim?

  41. BigElectricCat says:

    It’s people like Angelo Mozilo that make me wish I wasn’t an atheist.

    You see, if I believed in a god, then I could take comfort in the belief that there’s a pre-warmed seat waiting for him in hell.

  42. mwwilk says:
  43. Wow, CEOs really are horrid ghouls – literal and figurative.

  44. Redpac says:

    “Bailey said he took out the adjustable-rate mortgage without realizing how it worked and had been told incorrectly that he could refinance after a year.”

    While Mozilo is a douche for the reply, this guy is an idiot for not understanding what he was getting into.

  45. Amy Alkon000 says:

    I don’t own a home because I live in Los Angeles where the little shack I rent would go for a million-five, and I can’t afford it. All these people with ARMs couldn’t afford it either, but that didn’t stop them. Oh, the guy was “told” he could refinance? Please. You read the contract, and if you can’t read contracts, you hire a lawyer to read it for you. Why should anyone bail these people out?

    Oh, and this isn’t to say the people giving these loans weren’t scumbags. They shouldn’t be bailed out either.

    All these adults waited a real long time to learn the hard lessons.

  46. Jaysyn was banned for: says:

    Ugly on the inside *AND* outside.

  47. “Countrywide is actively working to help borrowers, like Mr. Bailey, keep their homes.”

    Whatever you say, whatever you say.


  48. mariospants says:

    I agree, the headline “Calls His Plea For Help ‘Disgusting'” completely misleading.

    and unless these home owners were completely stupid or incompetent, they knew what they were signing on the bottom line for. Yeah, house prices were out of whack, but you don’t need a mcmansion overlooking the ocean. You’d like one, but you don’t need one. I guess Bailey was just trying to save some money by going variable, but ended up with an ARM. Bad lenders + bad consumers = fucked up economy.

  49. GoldHoops says:
  50. Hooper says:

    Such a “Let ’em eat cake” response.

  51. JustaConsumer says:

    The man is a douche bag.

  52. rbb says:

    I think there is more to Bailey’s problems than story lets on to. He’s owned his house for 16 years? Why did he refinance into an ARM? To lower his payments or to cash out all the equity in his house?

  53. P_Smith says:

    Ponzi-lo creates the mess, and then calls “disgusting” people’s attempts to fix the mistakes of Ponzi-lo and countrywide.

    That asshole is the really disgusting one, profiting off of people’s misery. What’s disgusting is that Ponzi-lo hasn’t had his house and bank account repossessed to pay for the mess he made.

  54. heavylee-again says:

    The are several layers of problems in this situation, and Bailey has varying levels of blame.

    Is he a victim of a rude email from a CEO? Yes.

    Is he a victim of his own decision to unwisely use an EECB? You tell me.

    Is he a victim of a 7-year period of over-inflated real estate prices and lenders throwing money at almost anyone? You tell me, because as rbb so rightfully pointed out, he has owned his house for 16 years and surely didn’t buy the house 16 years ago with an ARM. So how’d he get one? Countrywide held a gun to his head?

    You seem to be saying that I (amoung others) should not ‘blame the victim’. I think you are too quick to identify him as a victim.

  55. pal003 says:

    Can we just throw this Countrywide CEO in jail. I would have no regrets if we punished these lenders that profited from approving loans that should never have been approved – and Countrywide was one of the worst and disgusting perpetrators in the industry. Then there would be fewer ‘misunderstandings.’

  56. GoldHoops says:

    @heavylee-again: I believe the point of the post was to highlight a dismissive, hostile, and rude mindset on the part of a business when it comes to its customers. This customer was a victim of that. Instead of questioning how or why he got into the situation, why can’t it be agreed that Countrywide manipulated consumers, financial instruments, and the marketplace for its gain, and to the detriment of millions of people?

    I don’t understand why so many people with sentiments that are the opposite of the purpose of this site choose to
    a. frequent it
    b. post here

  57. reznicek111 says:

    Didn’t he play “Pruneface” in Dick Tracy?

  58. acasto says:

    That guy creeps me out. He looks like someone from Spawn.

  59. heavylee-again says:

    I agree with the points you made in the first paragraph. I never said the CEO is without blame. But why does that automatically make Bailey blameless for being in the situation that he’s in?

    I am very much in favor of consumer’s right, the purpose of this site, and holding corporations appropriately accountable in situations. But I believe that accountability has to be evenly applied to every deserving party in each situation.

  60. ludwigk says:

    Reaping $70 million a year in total compensation while defrauding banks, ruining lives, all the while your company stock price plummets by 90% in the past year? Disgusting. Abominable. Unforgivable. Criminal. Mr. Mozilo, you are all of these things.

    Now stop fake tanning, or doing whatever it is that makes your skin that bright orange hue.

  61. AngryEwok says:

    Off with his head.

  62. redhelix says:

    “Countrywide is actively working to help borrowers, like Mr. Bailey, keep their homes.”

    First they insult their borrowers, then they lie to them.

  63. redhelix says:


  64. Wormfather says:

    Obama/Internet ’08

  65. Isn’t Countrywide bankrupt and being investigated by numerous state and federal agencies for all sorts of, say, disgusting and illegal practices?

  66. Comms says:

    Is it to much to hope for that fuckface will fall under a bus?

  67. asphix20 says:

    @skipjack: Personally, I read it as he was calling EECB’s and the fact that they’re becoming generic and pre-canned (sort of like spam?) disgusting.

    This doesn’t mean I dont feel bad for the consumer.. but I do think the response was mis-read…. a “misunderstanding”.

    He didnt even get to the consumer’s problem part of the e-mail.. he was hung up on the fact that it was a pre-canned EECB.

  68. Truthie says:

    Don’t blame Mr. Mozilo for feeling bitter. He needs every cent he can to keep up his tanning habit, which has clearly spiraled out of control.

  69. Gokuhouse says:

    @Geminijinx07: I have to agree with not over using the EECB. I haven’t even had the chance to use one yet….I want it to work when the time comes for me to actually do it. It’s sad seeing all the consumers out there who have been duped into believing that refinancing out of their ARMs was going to be easy….

  70. u1itn0w2day says:

    I agree with Lynchmob 52 in that the use of form letters show lack of integrity in motivations if nothing else.Even so the fact so many are willing to use those form letters and send them in under their name should tell Country Wide something:anything.

    But to those who SIGNED up for these things without THINKING or READING the CONTRACTS;your out of luck,it’s YOUR fault,YOU wanted to own when you should’ve been renting or living elsewhere.Please don’t use your kids,the American dream or it was too complicated as an excuse to shield you from YOUR desires which are just as GREEDY/selfish as Country Wide’s & other’s desire to make money.

    Unless you can proove these ARMs or liar loans were illegal or unethical to be even offered please just accept your fate.And if you can proove the big corporate banks were CRIMINAL or negligent I’ll support full prosecution and jailtime because their greed was fed by or fed the greed/desires of the borrower.

    Sounds like one big happy family to me.

  71. MikeGrenade says:

    Remember when you made loans with the intent of eventually paying them off? Heh, yeah. What crazy times those were.

  72. sburnap42 says:

    Yeah, I’m pissed at this guy too! See, when we refinanced a few years back to fund a new addition, we got a fixed rate mortgage. No one told us that we could weasel out of the higher rates of an ARM if the market went south! This is patently unfair! If we had known, we could have gotten the cheaper ARM. What bastards…this guy has cost us tens of thousands of dollars! I’m gonna write my congressman.

  73. Breach says:

    Ah, I see we have a contender for the World Douche Awards ’08.

    Nice, idiots like him let this happen, then berate the people that his actions helped to screw. Classy!

  74. trujunglist says:

    @Troy F.:

    Ha! Great point.

  75. couponwhore says:

    When I went to get my first home loan, they tried to sell me an ARM, by telling me that since I was young I was sure to get raises before the interest went up.

    Sure, My non-profit salary will triple in three years…

    I wouldn’t be suprised if this guy and others went to refinance, and were told they could pay a low ARM, save some cash for a year and then refi. And lets be honest, people have trouble making logical steps, and only take in what is clearly stated in print, not implications.

    Why are all those zany warnings about not putting hot things in your eye out there?

    There were no warnings on the ARM label stating “You are playin’ with fire, baby! Yeow!”

  76. darkryd says:


  77. u1itn0w2day says:

    It still amazes me with all the documents you must sign people including the seller don’t seem to realize how serious these things are.

    How many pieces of paper must you sign and initial when buying a house?30,60-WHAT?there are this many pieces of paper for the heck of it???If the realtors and mortgage don’t realize the gravity of what they asking people to sign or the buyer doesn’t realize the gravity of what they are signing then they deserve each other.

    WHAT?those documents are to be signed for your health,the heck of it,to see how many times it takes before your signature changes?-huh.

    It’s never just a formality,it’s for a reason and with ARMs it means your payments WILL INCREASE-legally yes practically or ethically-no.

  78. BigElectricCat says:

    @u1itn0w2day: “If the realtors and mortgage don’t realize the gravity of what they asking people to sign or the buyer doesn’t realize the gravity of what they are signing then they deserve each other.”

    Yup. That makes me wonder why you’re not trashing Mozilo as enthusiastically as you’re trashing the homebuyers.

    If homebuyers were negligent in not reading the fine print, then the lenders were negligent in not doing financial procto exams and credit DNA analyses on their applicants.

    There’s plenty of blame to go around here.

  79. Jmatthew says:

    Um, I hate to side with the evil CEO, but…

    He seems to ME, to be saying the PRACTICE is disgusting of using blatantly ripped off form letters to harass his staff.

    As someone who has to wade through these form letters, I have to admit I agree. It’s insane to get the same form letter from 100 people telling me what great customers they are and how they’re never late, but oh could you remove this 30+ mark… then you pull up their history and they have 20 over 30s on a 60 month contract (I’m in auto lending.)

    If you’re going to correspond, then write your own letters.

    Spamming your creditors with form letters isn’t helping you, and it’s not helping your creditors. Taking short cuts isn’t going to help. Sit down and really think about what you’re writing and be honest and you’re much more likely to get an honestly helpful response.

  80. jscott73 says:

    @u1itn0w2day: Holy crap, when did this site become, the lending industry was making a ton of money off all these loans and they know what they were doing, they didn’t care if they were going to destroy american dreams, no matter how unrealistic the dreams were, they were all about getting the loans made to repackage and resale to investors.

    Corporate greed always trumps corporate responsiblity.

  81. D-Bo says:

    What a piece of shit. I want to start emailing that guy just to piss him off.

  82. u1itn0w2day says:

    Oh I’m not forgiving the corporations and their financial dealings but come on.I have several problems with the whole sub prime mortgage mess deal.First and foremost being the flippers and SPECULATORs who fueled housing INFLATION.Just the prices alone should’ve scared people off-including the banks.

    There was a post a week or two ago from about the 530K 90 year old house sellign for 177K.Wild flucuations in prices should be another warning.But the PRICE alone.

    I always heard things like money down on a mortgage and always heard you mortgage should be no more than 3 times your yearly salary-it’s that simple.Landlords use similar rules when renting.I blame the borrowers for taking a loan probably 5 times there yearly salary and the banks for giving it to them.

    And the banks like Country Wide CAUSED INFLATION as well by even offering these loans-for them to cry ‘well you SIGNED’ or ‘didn’t you read it’ is as ridiculous because them being the lender should KNOW the REALITIES of things like mortgage=3 times your yearly salary.

    And I’m sorry if someone got layed off or had a financial disaster but YOU should always take that into consideration-WHAT IF.That’s why I equate the borrowers desires to the greed of the banks.IF you want it so bad that you can’t even ask the ‘WHAT IF?’ question or ‘what’s exactly written in the 60 sheets of paper I just signed?’ I have no sympathy.I’ve turned down jobs simply because I didn’t like the wording on ‘routine’ paperwork.If everyone would read and ask questions about the paperwork or CONTRACT they are signing I guarantee you we’d be rid of the ‘o the humanity’ surprises people claim.And if particular clauses or wording are causing lenders and realtor sales I guarantee they would ignore or ommit those clauses or terms of the CONTRACT.

    JUST THE PRICES or numbers alone should’ve been enough for the owner wanna bes(nothing wrong with that) to stop and THINK because the lenders already knew all about those very same numbers and that’s WHERE I wonder about the legality & ethics of the crap they sold.I’m back to square 1,it takes 2 to tango.

  83. Cee Bee says:

    grade a scumbag

  84. Amy Alkon says:

    I don’t understand why so many people with sentiments that are the opposite of the purpose of this site choose to
    a. frequent it
    b. post here

    What is the purpose of this site? To say the consumer is always right?

    I guess, for you, what makes for a fascinating discussion is just a long string of comments that say, “Yeah!” and “What he said!”

    I’m disgusted by the lending practices of these companies, but I’m equally disgusted at all the people who signed contracts, apparently without reading them, and now want a bail out. I bail myself out — or rather, avoid financial gambles so I won’t need a bail out.

    Does the idea of personal responsibility disturb you? If so, we’ve got a lot to talk about.

  85. joellevand says:

    I’m going to agree with the others who’ve said that while the CEO is a massive scum bag just because of where he works (Countrywide is just a synonym for evil at this point) it is ridiculous to send an EECB for something that is your fault (Oh noes! I signed up for loan with conditions that change without my consent! And now they want to steal mah house and mah bukkit! Boo hoo hoo!) is somewhat abusive of what the EECB is for.

    Using a copy-paste form letter EECB? That’s worse than just begging for leniency for something that’s your fault. That’s being so half-arsed and not feeling any regret or remorse for the stupid-ass thing you’ve done (sign up for an ARM) that you can’t be bothered writing something expressing the unique reasons your situation should be treated differently, possibly because there isn’t any reason.

    The more I read about the people who signed up for ARMs and are now facing foreclosure, the less I feel sorry for them, mostly because they are not sorry and desperately want others to feel sorry for them.

  86. joellevand says:

    @GoldHoops: What a boring, rigid, and dogmatic life you must lead if you only surround yourself with like-minded individuals and yes-men.

    It’s like the fundamentalist types in any religion. If you disagree with us, GET OUT! We do not want open discourse to open us up to view points which are not our own! Then we might realize when we are wrong! Oh no!

  87. @Dobernala: Srsly. Is he a burn victim?

  88. u1itn0w2day says:

    jscott73 brought up an excellent point about the repackaging and reselling of these sub prime loans.THIS,this is where alot of this sub prime got out of control.

    A borrower does NOT know who has their loan.And WHAT exactly went on to resell these loans.For if these loans were NOT RESOLD would many of these banks been so anxious to give them out.Who said this was doable?

    This goes back to exhorbitant prices sellers were getting for houses.If the easy credit dried up due to the lack of the reselling of loans the HOUSING(not commodites) prices would’ve have been at a more reasonable level to the point where an attainable standard mortgage was available to the ARM users-less INFLATION.See that’s the thing the easy credit was used to compensate for inflation rather than letting the market correct itself through the lack of sales.

  89. B Tex says:

    This guy looks like someone out of a mobster movie. Sounds like he acts like one too.

  90. LeopoldAjax says:

    On the one hand, I can understand both the frustrations of the lender and
    the consumer. On the other hand…

    Maybe we should give him something to respond to.


    “They say there’s a place free of trouble and care, and you have to pass a
    test for to make it there. It has something to do with the road that’s
    straight and narrow, and the only way to go it is by being broad and
    thorough” – Greg Gaffin

  91. ageshin says:

    Mr. Morzilo should be making his comments from behind bars, as the last time I heard there was an ongoing investigation going about the shady deals his company was involved in. Trying to go to Mr. Morzilo and Countrywide to ask for help is like a chicken asking a wolf about how to avoid being eaten. Many of the comments I have read here are of the blame the victom. This always assumes that the criticizer is above that sort of thing and that they would never get cought in that kind of thing. I hate to tell you people that you are all suckers at one time or another, and that you should realize that these huge companies don’t have your best intrests at hart.

  92. ReubenVolusus says:

    The guy is not exactly wrong for taking what’s his.
    He didn’t steal from anyone. He simply cashed out and
    chose not to go down with the ship.

    On a separate note, this guy writing in and “CLAIMING”
    to not understand why he is on the verge of losing his
    house is “STUPID”. He deserves whatever is coming to
    him. Too many people purchased homes they could not
    afford on those ARM loans and they are ALL aware of
    the consequences.

  93. dirk1965 says:

    I’ve several comments from those of you that think that Mozilo should be in jail. Countrywide did nothing different that any other mortgage company in the country. They hung out a carrot in front of people, and the dumb asses bit without even reading the fine print. Your mortgage is a contract… READ THE FREEK’IN CONTRACT! Its your own damn fault if you attempted to live beyond your means! For those of us such as myself, we are being penalized by being able to keep our homes. How is that you may ask… home appraisal values have been sky-rocketing. If you’re fortunate to live in a state where they have a freeze on appraisal value at the time of purchase, lucky you. But those of us that don’t are now paying the price. Some of my neighbors houses including mine has been jacked up anywhere from 10K – 30K. So go cry somewhere else!

    BTW… I’ve met Mozilo in person, and he has definitely been under the tanning bed one too many times!

  94. fostina1 says:

    i dont think that someone who cant use email correctly should get to be ceo of a bank let alone pump my gas.

  95. S-the-K says:

    I think CEOs that trash talk their customers to their face and, when called on it, lie that they didn’t say what they said to be DISGUSTING.

    I think CEOs of predatory lenders are DISGUSTING.

    I think incompetent CEOs are DISGUSTING.

    I think incompetent CEOs who aren’t fired for this sort of thing is DISGUSTING.

  96. Wow, the blame-the-victimers are really having to stretch on this one, but I see they’re going for it anyway. Stretch, losers, strettttch!

    I actually think the false apology that Countrywide issued was even WORSE than the CEO being a dickhead in the first place. “Misunderstanding”? Like it’s someone else’s fault the CEO was a dick and got caught? How about “We’re sorry our CEO is a dick”?

    And that bit about how Countrywide is helping people with problem mortgages…yeah. Sure you are. That’s why, earlier this week when I was volunteering to take questions at a town hall meeting for people with mortgage troubles, Countrywide was all but burned in effigy. That’s why fully half of my clients are people who come to my nonprofit in desperation because they’re conscientious people who’ve done everything to pay their mortgages and talk to their lender, but Countrywide (or the equivalent; they pretty much all act the same) has decided to give them the finger as long as they can get away with doing so.

    Bush’s idea to let banks *voluntarily* help people out with their unethically-sold, ridiculously-priced mortgages was SO BRILLIANT.

    You know what I — a real-life, non-Internet counselor of these types of situations — tell people who are trying to get help with their mortgages? I tell them to HIRE A LAWYER. Because while Countrywide and the rest don’t have a problem ignoring, insulting or otherwise screwing their customers, you should see ’em jump when a law office calls.

  97. BigElectricCat says:

    @Amy Alkon: “I’m disgusted by the lending practices of these companies, but I’m equally disgusted at all the people who signed contracts, apparently without reading them, and now want a bail out. I bail myself out — or rather, avoid financial gambles so I won’t need a bail out.”

    What of those people who don’t want or ask for a bailout, and instead simply make a financial decision to take the credit rating hit and just walk away from their mortgages?

    @Amy Alkon: “Does the idea of personal responsibility disturb you? If so, we’ve got a lot to talk about.”

    If someone accepts that they’re going to lose their house and then just sends the keys to the mortgage holder with a note saying “I can’t pay for this any more, it’s all yours — bye,” then where’s the lack of personal responsibility? Seems to me that they’ve made a financial decision and have chosen to accept a given set of consequences.

  98. aldrichames says:

    Any other Countrywide employee who sends that e-mail to a customer is gone as fast as they can get a final check cut. My fantasy would be for BofA to do the right thing as soon as they take the reigns and walk his ass out like the thousands he has laid off. No pension plan, no health benefits for life. Just “Here’s your final check and your COBRA forms. We’re very sorry. We’ll mail you your shit.”

  99. jimmydeweasel says:

    That’s the guy from Texas…..Texas Chainsaw Massacre. It’s leather face.

  100. BagelTycoon says:

    That mug of Mozilo looks like he’s seen more than a few knuckle sandwiches in his day!

  101. oneheart says:

    I understand the frustration in receiving the same email over and over, but usually it’s not about things that matter. This though does matter. We’re talking about someones home. The place where they raised their family and where all their memories are. The letters were written with the hope that they would be able to still continue to afford to live in their home. So what if the letters are similar. Don’t companies send out massive emails of the same thing anyways.

    What I find to be unfortunate is the fact that this gentleman thought it in anyway appropriate and professional to respond in such a manner.