Last week, I laid out several reasons why Countrywide was in a position to succeed........I was very clear that I am not a fan of the company, but nevertheless they make a whole lot of sense.
The original posting was at Active Rain Members Fuel the Media Fire.....Countrywide is Failing!
In addition to everything that was reported in the initial blog, Bank of America just agreed to invest $2 BILLION dollars into the company, as reported on the AP wire a couple of hours ago. A brilliant move to say the least as a means of preserving the company and its value to our economy, as well as giving Bank of America an opportunity to preserve the mortgage and banking system, while covering themselves as a potential acquisition for the future.
After last weeks' doom and gloom, can you share how you think this impacts your local mortgage markets? I'm curious to see what peoples thoughts are knowing the #1 lender in the country appears to be on the proper footing to move forward, and hopefully continue to grow the company!
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