In case you were on a charter fishing boat all day catching some of those monster Rock Fish on the Outer Banks - a few big news items have happened. No, I am not talking about OJ being arrested again. Bank of America purchased Countrywide. They have dated for some time but a merger has finally come to fruition. At least it will end the speculation of Countrywide declaring bankruptcy and Bank of America can probably weather the mortgage storm.
On another note, I have read that J.P. Morgan Chase is considering purchasing Washington Mutual. My how things have changed in just a few short months.
Ben Bernanke spoke yesterday and hinted at larger cuts in the Fed Rate - good for those with Home Equity Lines of Credit. The cuts are expected to be announced at the end of January.
Mortgage rates are at a two year low - there are plenty of available properties on the Outer Banks and the fishing is pretty good this time of year. If I can be of any assistance, please feel free to contact me at your convenience. Mobile: 252-599-0364.
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