Home Loan Resources » Bank of America http://www.idohomeloans.net Mortgage News And Updates Mon, 22 Feb 2010 18:30:04 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 Countrywide heading down the drain. Will B of A scoop them up? http://www.idohomeloans.net/home-loan-lenders/countrywide-heading-down-the-drain-will-b-of-a-scoop-them-up/ http://www.idohomeloans.net/home-loan-lenders/countrywide-heading-down-the-drain-will-b-of-a-scoop-them-up/#comments Thu, 10 Jan 2008 21:28:17 +0000 admin http://www.idohomeloans.net/home-loan-lenders/countrywide-heading-down-the-drain-will-b-of-a-scoop-them-up/ Well, it finally looks as if Countrywide will be done for good.  Rumor on the street is that Bank of America will buy them out or merge with them in some sort of way very soon.

Countrywide has been denying their troubled situation over and over, but when you lay the facts down on paper, they ARE in trouble.

It really shows in the value of the company and their stock prices.  They were valued at nearly $26 billion last year and today their worth is about $3.2 billion.  The stocks 52-week high in Feb. was $45.19 and now is currently $7.75.  Awesome work guys!

How any one or any company can say “We are fine” as they deplete their worth by $23 BILLION is beyond me.

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