Hi, Maria Gudelis here and I just had to blog about some shocking news – I’m not sure how to take it as I know in the real estate frenzy heyday, Countrywide would loan money to anyone with frankly, a pulse! However, I’m not a huge fan of blame and lawsuits flying around when everyone’s hand was in the cookie jar of greed!

An excerpt from the breaking news by Reuters:

“Florida sued mortgage lender Countrywide Financial Corp (CFC.N) on Monday for predatory lending practices, alleging the company at the center of the U.S. mortgage crisis made subprime loans to people who could not repay them.

The Florida attorney general filed the lawsuit, which names Countrywide Chief Executive Angelo Mozilo as a defendant, in state court in Broward County, Florida.”

To see the entire article, click here.

Enjoy reading, Maria Gudelis