B of A Plans to Stem Foreclosures if Countrywide Takeover Approved

Posted by Patrick O'Connor on 4/28/08 10:43 am

In an attempt to gain approval from regulators for its takeover bid of Countrywide, Bank of America suggested plans that would help as many as 265,000 high-risk mortgage payers keep their homes.  If Bank of America succeeds with its acquisition attempt, it would control one of every four mortgages in the U.S.

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