6300 Jobs Cut

NEW YORK - American Home Mortgage Corp. filed for bankruptcy protection on Monday, the latest casualty of a mortgage industry that has plunged into distress.

The Melville, N.Y.-based company's request for Chapter 11 bankruptcy protection - filed in bankruptcy court in Wilmington, Del. - caps a tumultuous 10 days for what was in 2006 the nation's 10th-biggest home lender.

The article goes on to say that American Home Mortgage cut 6,300.00 jobs!  Wow.  Rumor has it Countrywide isn't on the best of ground right now too.  Any information out there that might tell us if these rumors are true or not?  For more on how this happend check out a great blog here. 

http://activerain.com/blogsview/165445/American-Home-Mortgage-what

http://activerain.com/blogsview/165688/American-Home-Mortgage-The

What a great forum to have with so many great minds to explain and get valuable information out to the public and to others in the industry.