next »

[jonesl78]

http://biz.yahoo.com/ap/081111/citigroup_homeowner_assistance.html

"Citi plans to devote a team of 600 salespeople to assist the targeted borrowers by adjusting their rates, reducing principal, or increasing the term of the loan, steps known in the mortgage industry as a workout."

This is what I have been waiting on firms to do. Foreclosure equals no money ;People in their homes equals continous cash flow. This is what a company that wants survive does. 

[csedwards2]

http://biz.yahoo.com/ap/081111/citigroup_homeowner_assistance.html

"Citi plans to devote a team of 600 salespeople to assist the targeted borrowers by adjusting their rates, reducing principal, or increasing the term of the loan, steps known in the mortgage industry as a workout."

This is what I have been waiting on firms to do. Foreclosure equals no money ;People in their homes equals continous cash flow. This is what a company that wants survive does. 

they've been doing this, not fast enough, but doing it nonetheless. The new thing is the moratorium. Plus even if they are moving too slow; investors have been doing this for homeowners, too.

[BigFoot_BigThumb]

This has always been in existence, but they don't tell you about it because pressure tactics work out better for the numbers.  Now they don't have a choice.  They're not doing it because they care.  They're doing it to stay in business.  As long as things were "normal," they were strongarming.  Now they can't even move the foreclosed home once they have it because no one can get a loan. 

These bailouts are really burning me up.  AIG is trying to get even more money that may total up to $150 billion.  After that company retreat thing, I don't think they deserve one more dime.  I can't even get $20 right now without paying 70% interest on it.