Tuesday, Aug. 4, 2009 | 2:01 a.m.
It now seems possible, if not likely, that Sens. Christopher Dodd, D-Conn., and Kent Conrad, D-N.D., received preferential treatment on mortgages they obtained from Countrywide. It is also likely that both knew the treatment they received was not available to regular folks.
If I had an eight-unit apartment building, Countrywide representatives would have refused to provide a refinanced mortgage for me. But for Sen. Conrad, they said they’d make an “exception.”
I own two homes, one owner-occupied and the other a rental. I cannot afford to refinance my rental because the rate, points and fees on a rental are too high. Not so for Sen. Dodd. Countrywide made an “exception” and allowed him to claim his first and second homes as “owner occupied” so he could get a great rate, points and fees and he was able to refinance both homes.
These two senators did sit on very powerful committees that deal with legislation affecting the mortgage industry and Countrywide Mortgage, and they still do. Does any American really believe that Countrywide provided these special deals to these two senators and others just to be nice? This type of thing is done to gain influence and the people who participate, including the senators, know it. Both Republicans and Democrats do it.
Wake up and stop this before it is too late. Vote them out of office. If we allow this to continue, it will destroy our country.
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