spanish moss

Bank of America Buys Countrywide - Who Gains and Loses?

I believe you are spot on. Of course, I would rather you were wrong, but I'm not at all sure you are.

On the Cleveland lawsuits, I think it would be nice to see the entities Cleveland has sued counter sue Cleveland for not providing police and fire protection to the vacant properties in order to perserve equity for the borrowers (yes, under Durand, lenders must return equity to borrowers). No equity you say, then also sue the borrowers, sellers, realtors, (oops Realtors) and appraisers for over valuing the properties securing the loans.

Now I'm on my soapbox, but let's not allow the plaintiff's bar to add insult to injury by driving up the cost of everything in this country. Insurance, housing, pharmacuticals, health care, cigarettes, on and on ad nauseum...

Thanks, I feel better now!