Hot off the press!  This morning, Bank of America settled a lawsuit over deceptive mortgage practices in 10 states, including Texas.  Beginning in December, the company plans to modify hundreds of thousands of loans originated by Countrywide Financial.

What does this mean for Austin real estate?  Well, as many as 30,000 Texas homeowners will enjoy some form of debt relief from this plan.  That could mean fewer foreclosures in OUR neighborhoods, keeping prices from dropping.

Things are looking up!

-- jw

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