Well I was thinking about starting this out with WOW! But rather; "well ok, this makes sense..."
Bank of America this past LATE Wednesday announced that it would kindly fork over some pocket change to Countrywide so that a BK is NOT on the hoizon. Intristingly enough the mere 2 BILLION agreement (investment really) is being converted to Countrywide Stocks. Recently, things like this have happened honestly REGULARLY, but the interesting thing is the Federal Reserve released an offering to lenders to bail out really... UNLIMITED FUNDS AVALIBLE! Merely at 5.75%. Geez, that is better then MOST or even ALL mortgage rates now. Countrywide could have bailed THEMSELVES out of the mess, BUT being that Bank of America loaned the money, then in my opinion that shows that the "possible" merger that was suspeced in Janurary this year, might actually happen.
Thanks
Post or email your questions.
Picture: "Countrywide and Bank of America in bed together?"
Corey.Mullin@gmail.com
http://mortgage-pro-opinion.blogspot.com
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