Mortgage Giant Countrywide Riddled with Problems
June 18, 2008
The proposed acquisition of Countrywide Financial by Bank of America continues to be riddled with problems. From the investigation into politicians that were given loans because they were alleged friends with the CEO, to regulatory issues, Countrywide has a lot of issues that are potential concerns for investors and share holders in Bank of America.
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Real Estate Quote of the Week
"I often hear remarks from agents like, “the bank sold that house really cheap - 30% below market value”. I don’t agree with that kind of statement. If various banks are the only sellers selling in an area and they are selling all of their houses at a perceived “below market” sales price - perhaps that IS the market for that product in that area. A good price fixes any of the various bad conditions. There is no good reason to take (or keep) a listing that isn’t going to sell."
Russell Shaw - in AgentGenius from Phoenix AZPolls
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