The Tennessee Attorney General’s settlement with Countrywide offers several options for
borrowers. If you do not see the answer to your question here, please contact Countrywide
toll‐free at (800) 669‐6607. When calling Countrywide, you should say you are calling with
questions about the Nationwide Homeownership Retention Program.
Please remember, the Tennessee Attorney General’s Office is unable by law to represent
individuals. As a result, if you believe you have a matter requiring legal assistance or advice,
you should seek the assistance of a private attorney. Failure to commence legal action within
certain time frames may bar you from obtaining legal relief. Therefore, you should act quickly
to consult with an attorney to review your rights. The questions and answers provided here
are not to be considered legal advice. See question #17 to find out how to obtain legal
1. Which borrowers may be eligible for loan modifications?
The Tennessee Attorney General’s settlement with Countrywide provides for loan
modifications for eligible borrowers who are 60 days or more delinquent, become 60
days delinquent, or can reasonably be expected to become 60 or more days delinquent
and who have subprime or pay‐option loans that they obtained from Countrywide or
from a broker working with Countrywide.
Borrowers with these loans may be eligible for modification if:
(a) the first payment on their loan was due between January 1, 2004 and
December 31, 2007;
(b) they live in the property that serves as security for the mortgage;
(c) they owe 75% or more of the current value of their home; and
(d) they can afford the new, lower payment under the modification.
An estimated 6,900 Tennessee borrowers will be eligible for loan modifications under
I am not sure what type of loan I have. How do I find out if I am eligible for loan
modification under the settlement?
The Tennessee Attorney General’s Office cannot determine whether you are or