Countrywide Buyout

Looks like Countrywide is the latest buyout. Bank of America Corp. has announced they are in fact buying Countrywide. The grapevine has buzzed about this since the first of the year. Countrywide carries billions in mortgages and were reaching a critical level with their foreclosure rates. According to Massachusetts congressman Barney Frank, the chairman of the House Financial Services Committee, this could be a positive to help improve the current real estate economy. Click on the title "Countrywide Buyout" to be taken to this article from CNNMoney.com