Bank of America Rescues Countrywide

[hometowngrl53]

Bank of America Rescues Countrywide
Filed Under: Banking, Mortgages
CHARLOTTE, N.C. (Jan. 11) - Bank of America said Friday it will buy Countrywide Financial for $4.1 billion in stock, a deal that rescues the country's biggest mortgage lender and expands the financial services empire of the nation's largest consumer bank

read here http://money.aol.com/news/articles/_...10151009990001

[badmomma]

This worries me especially after the anouncement that Bank of America was giving credit cards to illegal immigrants. My concern is how many of these poor people are going to end up with home loans on top of it.

[flippinout]

And the fact that no cash was exchanged in the buyout, only stock makes me wonder.