LOS ANGELES AP – Countrywide Financial Corp., under pressure to help stem growing home loan defaults, says it will expand programs to help borrowers manage their mortgage payments regardless of the type of subprime loan they have or whether they have already fallen behind on payments.
Full details of the initiative, the result of a pact with the national community advocacy group, were to be disclosed Monday. Initial plans to disclose the deal were postponed last month after Calabasas-based Countrywide agreed to be acquired by Bank of America Corp. for $4.1 billion in stock.
