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Florida Attorney General Sues Countrywide

By The Associated Press
.

AG Bill McCollum will announce details Tuesday. Illinois and California sued Countrywide last week, accusing the nation's largest mortgage lender of persuading homeowners to apply for risky mortgages far beyond their means. Florida Attorney General Sues Countrywide
Published: Mon, June 30, 2008 - 6:53 pm
TALLAHASSEE, Fla. (AP) - Florida will be taking legal action
against Countrywide Financial Corp. for what Attorney General Bill
McCollum calls misleading and unfair trade practices.
McCollum said details of the state's suit against the
California-based mortgage lender will be announced Tuesday at a
news conference.
Illinois and California sued Countrywide last week, accusing the
company of persuading homeowners to apply for risky mortgages far
beyond their means.
Countrywide is in the process of being sold to Bank of America.
The Charlotte-based bank expects to close the deal July 1, having
received the go-ahead from Countrywide shareholders last week.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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