Deep Pockets or riding out the storm

Dear Reader,

By now you’re well aware of the fact that Bank of America has provided financial resources (in exchange for partial ownership) to Countrywide mortgages.  Why did they do this?  Are they not aware of the hemorrhaging that’s taking place in the subprime mortgage market?

The answer is of course they are but they are smart money people and they intend to ride out the financial storm because they have deep pockets.

Furthermore they’re buying pieces of Countrywide at cents on the dollar because Countrywide has no financial reserves.  By being smart with their money, Bank of America has a huge design on the future and they have waited for such an opportunity as this to buy someone’s portfolio at firesale prices.  The honchos at Bank of America are banking on the odds that all of Countrywide’s mortgage loans will not be going south simultaneously.  Most mortgages will stay solvent.

One way or another, Bank of America is fiscally strong enough to weather the subprime mortgage storm.  They were prudent during the real estate bubble and now have deep pockets….

If you have been financially prudent as well, this is an exciting time for Owner Financing!  More people than ever before are going to need private source funds to finance their homes.  Are you ready to help them?

Best in Success,
Maria Fee
REMI KNOX, LLC
Trading Financial Futures TM
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