B of A buys Countrywide

By
Real Estate Agent with AllMountainRealty.com

Want proof that the so called housing crisis, mortgage meltdown, drag on the economy, is just that, so called, look at the paper. Either the folks at Band Of America are stupid or..... I am voting for not stupid.

Yes they did get Countrywide cheap. But the bottom line here is that the guys and gals at B of A see a market that is strong. They are saying weak but spending their dollars in the opposite direction. Basically they are making big bucks by forcing prices down , taking losses and not worrying about financing loans for increasing values. Where is the media quoting the obvious ? Why would B of A buy Countrywide at any  price if the market was in free fall meltdown or crisis. They wouldn't!!! But they would move in to scoop up bargains in anticipation of a good market that they can make big bucks in. It makes me mad and sad because folks who need to sell for whatever reason are caught in the cross hairs of big guys trying to make big bucks.

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Charlie Ragonesi All Mountain Realty Big Canoe and Mountain Blog

On line at www.allmountainrealty.com Call at 706 579 1098

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Rainer
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Danny Thornton
R & D Art - Knoxville, TN
WordPress Guru
Charlie, I was inside with Countrywide for a long time. I know their operations inside and out. I can tell you B of A knows what they bought and they know how to fix it.
Jan 12, 2008 02:17 AM #1
Rainmaker
1,403,913
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes
I agree that any company that can wait out the issues in banking like B and A can make a ton of $$$$$ we will see if they jumped too early.
Jan 12, 2008 02:36 AM #2
Rainmaker
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Chris Frantz
EDU Real Estate Group - Indianapolis, IN

If the market was really as bad like the media keep saying, there is no way bank of america would have done what they did.

 

Jan 12, 2008 03:05 AM #3
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