Countrywide Promoting Its Foreclosure Prevention Strategies

Countrywide Financial recently issued a press release that begins as follows:

• "Help is readily available for homeowners who are experiencing difficulty meeting their monthly home loan mortgage payment. Countrywide Financial Corporation (NYSE:CFC), through its Home Ownership Preservation Program, recommends several strategies that may enable borrowers to manage their mortgages, avoid foreclosure and preserve their most valuable asset, their home.

Go here for the rest of the press release - Countrywide’s Home Ownership Preservation Program Offers Foreclosure Prevention Strategies (Countrywide borrowers avoid foreclosure 70 percent of the time when they engage in loan workouts.).

For more on Countrywide, see:

• Countrywide to Cut About 900 More Jobs - will cut about 900 more jobs nationwide, following the elimination of about 500 positions last month,
• Countrywide to Cut Up to 12,000 Jobs - will cut as many as 12,000 jobs in a bid to slash costs and cope with soaring foreclosures and defaults, the company said Friday [9-7-07].