Bank of America Acquires Countrywide

Jonathan Dalton, Phoenix Real Estate AgentAs expected, Bank of America is going to buy Countrywide. The dance has been taking place for a while; it seemed to be only a matter of time.

My quick thought is someone was going to step in. Someone had to step in, considering Countrywide was servicing about 1 in 6 loans nationally. Whether it turns out to be a good deal for BofA or a case of a bank lighting money on fire, only time will tell.

Here’s that the mortgage folks (and others) are saying:

Housing Wire also noted that the lender now believed to be in the most dire straits, Washington Mutual, is being eyed by J.P. Morgan.

[tags]countrywide, real estate financing[/tags]

Jonathan Dalton

Jonathan Dalton is a 40-plus-year resident of the Valley and has been helping folks buy and sell homes since 2004. He can be reached at 602-502-9693 or info at allphoenixrealestate.com.

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