We recently went through the the whole refinance bit, completely wiping out several old bills and consolidating them into one payment. Fairly painless but with some stress moments. From getting the appraisal to waiting for checks in the mail. It didn't take that long. Countrywide home loans helped us a lot.

With the current financial crisis, I am so glad my wife and I listened to the whispers on the wind and decided to see if we would qualify for refinance. We wanted out of the adjustable rate mortgage or ARM, and she started calling around just asking a few questions. We had other bills that needed to be gone as well, so she was looking for an amount to consolidate those bills and make the ARM go away.

Interest only mortgages only seem to benefit one party, the lender! As interest rates changed and as time went by, we had only made a very small dent in the overall principle balance of our mortgage loan amount. Payments were mostly being applied to interest and not the main balance. I am sure that at age 90 we would still be owing our mortgage.

We had no idea that the housing and credit slam was coming, we had started the refinance before the end of December of 2007. There was something in the air though, and we desperately wanted out of that money pit mortgage. The timing could not have been better, my wife was able to get someone on the phone that said it could be handled in a very short time and he would be sending paperwork for us to review and sign.

The whole process got started fairly easily. We had to get another appraisal that was current and provide certain paperwork from the house and property description. Tax information and documents. The whole process from the first phone call to funding with checks in hand and money in our account was about two weeks.

Countrywide home loans has helped us from that start in a friendly and professional manner. They took good care of us getting the arrangements for our appraisal and getting a notary to finish the paperwork. We live in remote Montana and they came to us for all of the services, we did not have to travel. The cash balance was wired to our bank very quickly and exactly as described by the loan manager. Paying off debts and consolidating to one low interest payment has been a real help. It will give my business a shot in the arm to bring home more net pay.

In closing, I have to say our experience with Countrywide home loans has been a pleasant one and I would recommend them anytime for a painless refinance.