It has been said by many experts familiar with the mortgage market that Bank of America has prevented Countrywide from impending bankruptcy (Check out my last blog entry on my concern about the company). The bank announced that they would be purchasing Countrywide with 4 billion in stock.
Although it does not have much effect on the average home buyer, it does possibly prevent further downfall of the mortgage market. May 2008 see the market stabilize, and purchasers with good credit scores enter back into the home buying market.
If you are interested in buying this year, be sure to check out my website: www.audreybutlerhomes.com
