Source: Gretchen Morgenson, New York Times ( Free Registration )

Dan Bailey Jr. was desperate when he sat down on May 19 to send an e-mail message to his mortgage lender, the Countrywide Financial Corporation, pleading, yet again, for help.

Moe Bedard is president of Loan Safe Solutions. He said his firm found problems in at least 80 percent of 300 mortgages it examined for clients.
Behind on his payments and fearful of losing his home of 16 years — a 900-square-foot bungalow in Wilmington, N.C. — Mr. Bailey had spent the previous six months unsuccessfully lobbying Countrywide, at the time the nation’s largest home lender and loan servicer.

Mr. Bailey, 41, promised in his e-mail message that he would pay every nickel he owed if Countrywide would modify his mortgage in a way that allowed him to keep his home. He sent the message to a grab bag of Countrywide e-mail addresses, which he had received from www.LoanSafe.org, an online forum for borrowers.

Read Full Article: Silence of the lenders: Anyone listening?