From Pine View Farm

Countrywide Was on Your Side 1

Yeah.

Right.

Her first mortgage was with Contrywide:

But coming off a divorce and starting over as a single mother with a middle-class lifestyle, she ran up a chunk of credit-card debt.

Meanwhile, Countrywide sent her a stream of offers for a home equity loan to consolidate her credit-card debt. She said that every time she got on the phone to confirm a payment, Countrywide customer-service representatives badgered her about getting a second loan. In 2005, she relented, taking out a $15,000 home-equity loan. “I thought it was going to save me money in the long run,” she said.

But she did not know that she was only paying interest on the home-equity loan and that the interest rate was climbing, until it reached the 15 percent to 16 percent range, about the same as the credit-card rate.

A Countrywide spokesman could not be reached for comment on the terms of Morgan-Coleman’s loan.

The moral of the story, as far as I can see, is never believe anyone who’s paid on commission.

Not even the clerk in your local Radio Slum.

Then, again, I’ve been a happy Radio Slum customer for years. Their salespersons have never misled me.

Let me reconsider the moral:

Never believe anyone who’s paid to lie on commission.

Wait a minute!

We are in big trouble because of liars who are on salary.

Let me try again.

Never believe anyone.

Nah, that doesn’t work. Occasionally, someone tells the truth.

Let’s try again.

Never believe anyone who owes allegiance to or donates primarily to the Party of Privilege.

Whaddya think?

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1 comment

  1. Opie

    January 13, 2008 at 8:38 am

    So I cannot believe myself?