Arizona Mortgage Guru Blog Sold to Bank of America

For Immediate Release

Apri 1, 2010

Gilbert, Arizona – Tentative agreement has been reached between Mr. Author, founder and owner of the widely read Arizona Mortgage Guru blog and Bank of America, for the sale of the blog for a reported $1.2 million valuation.

In announcing the agreement Mr. Ghimire states that “it’s a win win situation for both parties”. With over five years of blogging under his belt, Mr. Ghimire was on the forefront of covering the subprime crisis and other hot topics in the home financing business.

Bank of America has recently been in the news with its announcement to help homeowners by forgiving portions of their mortgage. Ms. Stacy Johnson, VP of Digital Marketing at the bank stated that the bank wants to work with consumers on helping them keep their homes.

“We need a solid Web 2.0 channel to start building stronger relationships with borrowers in distress. We felt that the Arizona Mortgage Guru blog, with is strong history and wide readership would be a perfect fit for bringing this message out.” Said Ms. Johnson.

Industry analysts could not be reached for comment. However, Bank of America shares moved up 0.17 to 18.02, a 0.95% jump, in early morning trading.

Mr. Ghimire will stay on during the transition but has not immediate plans thereafter. “I guess I’ll move on and start another blog I guess. But I’ll sure miss blogging here at AMG.”

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