Archive for the 'Mario in the News' Category
Mario Greco on Fox News
May 5th, 2008 categories: Chicago Real Estate News, Mario in the News, Real Estate News, Real Estate Videos
Please click play to watch Mario offer his thoughts on Chicago real estate. More invaluable information for buyers, sellers, industry experts, and those simply interested in the opinions of an industry leader. 
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Chicago Real Estate Market Analysis on Fox News
March 6th, 2008 categories: Mario in the News, Real Estate News, Real Estate Videos
Click to watch Mario on Fox News discussing the current real estate market. Many say the market is suffering significantly, however Mario dissents from this opinion and offers his views on prevailing market trends.
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Mortgage Diaster Averted With $4 Billion Purchase of Countrywide Financial
March 3rd, 2008 categories: Mario in the News
On Friday, January 18th, Bank of America agreed to purchase Countrywide Financial Corp., a major Chicago lending institution that was rumored to be headed for bankruptcy. If Countrywide were to declare bankruptcy, it would serve to further alienate investors and consumers already disillusioned with the real estate market. Mario Greco was quoted in the Chicago Tribune as saying “A Countrywide collapse ‘would have had an immediate negative impact on the real estate market.’”
Bank of America not only helped Countrywide dodge the blow of Bankruptcy but also increased its own mortgage and lending capabilities in Chicago and the scope of its influence with the government. By rescuing a corporation whose collapse would have so adversely affected Chicago’s real estate market, Bank of America assumes a benevolent posture that will help raise its credibility with regulatory institutions. As a result, BoA may be more eligible for some benefits which include passage of certain mergers and acquisitions that otherwise “might not have passed muster,” tax-breaks, and/or raising the federal cap on the total US Bank Deposits. Most feel this will reinstate confidence for current and future investors of Countrywide, since bank of America is such a well established financial institution. “Bank of America is a strong-enough name that the consumer will take solace,” Greco told the Tribune. Bank of America has assured Countrywide patrons will benefit as well and that “Countrywide customers will gain access to a broad set of consumer products including credit cards and deposit services. “Home ownership is a fundamental pillar of the U.S. economy and over time it will be a key area of growth for Bank of America,” said Kenneth Lewis, an executive of BoA.
Original article from Chicago Tribune.
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