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Countrywide Tightens Further - Eliminates 3/27 ARM

Started by morganb · 6 months ago

My Countrywide rep has told me that as of tomorrow Countrywide will eliminate its 3-year fixed ARM, commonly referred to as a 3/27 loan from its subprime offerings. The minimum ARM term will be 5 years with a 3 year prepayment penalty.
Countrywide eliminated the 2-year ARM just a few days ago ... Continue reading »

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