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Countrywide Commits to $16 Billion Home Preservation Program 

Oct 23, 2007By

Countrywide Financial Corporation, responding to widespread criticism that the mortgage industry hasn’t done enough to help troubled borrowers, today announced a $16 billion home preservation program targeting troubled borrowers facing an ARM reset by the end of 2008. The program will entail $10 billion in borrower refis and $4 to $6 billion in loan modifications, Countrywide said. From the press statement:

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