TALLAHASSEE, Fla.  - Florida will be taking legal action against Countrywide Financial Corp. for what Attorney General Bill McCollum calls misleading and unfair trade practices.

McCollum said details of the state's suit against the California-based mortgage lender will be announced Tuesday at a news conference.

Illinois and California sued Countrywide last week, accusing the company of persuading homeowners to apply for risky mortgages far beyond their means.

Countrywide is in the process of being sold to Bank of America. The Charlotte-based bank expects to close the deal July 1, having received the go-ahead from Countrywide shareholders last week.

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