Guaranteed Online Personal Loans

A lot has been made lately about Countrywide Home Loans being on the brink of bankruptcy and heading toward liquidation of its assets. Bloomberg.com is reporting that things may be turning around for the mortgage giant.

While it’s true that Countrywide posted a loss of $1.2 Billion in the third quarter of ‘07, company reps are predicting profitability in the fourth quarter along with continued profits throughout 2008. Not bad for a company that has been harshly criticized for giving out extremely risky loans over the last four years and has taken heat from consumer advocacy groups for extending credit in the form of mortgages to people that couldn’t financially handle the payments (we recently posted about what they’re doing to make that situation right as well).

This news should be encouraging to everyone who has mortgages with Countrywide. Sure, even if they went bankrupt the only thing that would probably happen with your loan is that it would be sold to another huge lender. But still, it’s nice to know that the people holding the note on your biggest investment are getting more stable each day.

It looks like a company that has only shown one quarterly loss in 25 years is back to their usual habit of success and profitability.