Merry Christmas? According to the Boston Globe, Citigroup will suspend foreclosures and evictions for 30 days in a temporary break for about 4,000 borrowers during the holiday season. The suspension will run through Jan. 17. You better read the fine print, though. The suspension only applies to borrowers whose loans are owned by Citi. Borrowers [...]
Entries Tagged as 'underwater'
Foreclosures Suspended by Citibank until Jan 2010
December 21st, 2009 · No Comments · Mortgages
Tags: Citibank·Foreclosures·homeowners·job loss·Making Homes Affordable Program·mortgage holders·Mortgages·suspension·underwater
Feel Like Sticking It to Your Mortgage Lender by Walking Away?
December 3rd, 2009 · 7 Comments · Mortgages
Feel like sticking it to your mortgage lender by walking away? I have heard more than a few friends go into rants about how much they hate their banks and how the banks are all evil and “out to get you”. I’m sure you’ve been witness to this kind of anger. These people want to [...]
Tags: banks·financial problems·homes·lenders·morality·Mortgage·turn and burn·underwater·underwater mortgages·Wall Street
“Cramdown” Legislation Fails in Senate
May 7th, 2009 · 1 Comment · Mortgages
Back in March, we ran a blog post on how credit unions were worried about new “Cramdown” legislation, which would allow bankruptcy judges to reduce the principal in mortgages loans. Well, they need not worry any longer, at least for a time. The Senate just defeated the bill 51-45. According to CNN, the financial industry [...]
Tags: cramdown legislation·Democrats·House·House of Representitives·Mortgages·principal·Republicans·underwater
