Archive for July, 2008

First Magnus was covered here several months back when it refused, or stated it simply couldn’t, send paychecks it owed to employees. At that time, the lender was also filing for bankruptcy.
This was then:

“First Magnus Financial Corp. still is not sending out paychecks to its former employees. But the Tucson-based mortgage lender announced it […]

Many buyers chose to move to out-lying areas in cities like Gilbert, Chandler, Queen Creek, and Mesa in the East Valley. In the West Valley, buyers moved towards areas like Anthem, Surprise, Cave Creek, and some further out areas of Scottsdale. As the foreclosure notices started going up on doors and in the […]

BofA has officially acquired Countrywide Financial - but not without taking on a surprisingly large amount of risk in times like these.

It’s official: Bank of America has acquired Countrywide Financial, marking the completion of an audacious rescue of one of the most troubled lenders in the United States. The deal will expand Bank of America’s […]