QUICK NEWS UPDATE...
1.) Banks and mortgage companies are now borrowing $17.45 billion per day from the feds last week in order to keep their doors open, the second straight week this had hit a record and up from $16.38 billion the previous week, Fed data showed.
2.) Rumors that Countrywide will NOT be doing short sales does have some merit. Countywide is considering stopping all short sale applications on investment properties only. We're not sure what the game plan here is, but I guess we will find out soon enough.
3.) Current REO properties/listings from Countrywide are now up to: $2,469,313,620.00. This number is expected to climb by almost double by the end of the year. Seems like a REALLY good time to buy!!!
Frank Wible
RE/MAX All Pros
856-745-7700
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