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Countrywide Bank

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sd2734 Guest 0.10 Dollars($)	Posted: Tue Feb 05, 2008 12:13 pm    Post subject: Countrywide Bank I am contemplating to start a High-yield, Moneymarket account with Countrywide Bank, FSB (they offer the highest yield and acceptable terms) Now, in light of recent developments (Countrywide being in trouble due to the Sub-prime debacle, stock price plunge and talks of Countrywide going under) how good of an idea this might be? The account will be FDIC insured, but I do not want to be involved in a Bankruptcy and wait to get my money back for a long time!!! Any suggestions? Thanks, Simon _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
Alex12 Guest 0.10 Dollars($)	Posted: Thu Feb 07, 2008 3:32 am    Post subject: Hi Sd, As much as i've heard, Countywide's filing bankruptcy is nothing but a rumour. Earlier in January, bank of America was expected to take over Countywide. So, hopefully, you won't have problems going for a money market account with the bank. Since the account is FDIC insured, you are likely to get back your money should there be any trouble in future.
larry Joined: 27 Jun 2007 Posts: 3328 473.51 Dollars($)	Posted: Thu Feb 07, 2008 5:19 pm    Post subject: Hi Simon, I agree with Alex that as the account is FDIC insured, you should not have much problem. I think Countrywide bank is not in very bad condition. Thanks. Larry

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