Good News on the Housing Market from Charlotte’s Brian Moynihan, CEO Bank of America
“The worst is over,” he said, noting past-due mortgages and the backlog of problem mortgages are beginning to subside. “You’re starting to see the home market heal around the country.”
If Moynihan’s take on the issue proves to be true, that’s welcome news for BofA shareholders. The Charlotte-based bank (NYSE:BAC) has been weighed down by the country’s most distressed mortgage portfolio. The bank has spent tens of billions of dollars trying to settle legal problems, write down bad loans and service millions of distressed mortgages.
What’s the Charlotte Real Estate Market doing? Here is a link to Charlotte real estate market reports–both as a city and by subdivisions.