Metro Atlanta, Gerogia Real Estate Market, North Georgia, REO Sales

The Bank of America which I also bank with announced today that it will buy Countrywide Finanical for Four Billon in stock

This purchase will make Bank of America the Nation's Largest Mortgage leander and loan servicer in the Nation.

This sale will place the big and I mean big responsibility of sorting out the payment issues surrounding many millions of dollars worth of troubled loans onto Bank of America.  Many already know that one of the states biggest Mortage companies Homebac has closed its doors....we will just have to sit this one out and see what else will happen in today's mortgage industry

"There still plenty of risk involved" say Bart Narter, senior analyst at Celent, a financial research and consulting firm based in Boston.He thinks that "this was a "brave" (riskey) move, but I think that it's very likely down the road to be profitable, not immediately, but long term"