Remember Dan Bailey? Here is a follow-up from latimes.com:
His stance stems from a bizarre incident that thrust Bailey into the news in 2008, when he suddenly became a public relations liability for embattled home lender Countrywide Financial of Calabasas.
Bailey had blanketed Countrywide with emails begging for a mortgage modification. The reply came from none other than Angelo Mozilo, Countrywide’s chief executive, who accidentally hit “reply” instead of “forward” on a note meant for colleagues. In the misfired missive, Mozilo called Bailey’s letter a “disgusting” and “unbelievable” example of the form letters then inundating the lender from borrowers saying they couldn’t pay.
“This is unbelievable. Most of these letters now have the same wording. Obviously they are being counseled by some other person or by the internet. Disgusting.”–Countrywide Financial founder, chairman and chief executive Angelo Mozilo
Bailey insists that Bank of America is obligated to honor an agreement that Countrywide’s damage-control squad struck to silence him — a verbal deal he says entitles him to live for free in the two-bedroom, 938-square-foot bungalow he’s called home for 21 years.
Bailey, a struggling photographer, said he struck his deal with a Countrywide executive he knew as Ms. Morgan. She told him he could stop paying his mortgage, but only if he signed off on a loan modification within 24 hours and kept quiet about Mozilo and his errant email.
Read the full article here:
The whole story from 2008, including the form letter Bailey used from loansafe.org, an internet coaching service for troubled borrowers: