November 25, 2008 – 3:16 pm
I read the most outrageous headline “Citigroup’s $306 Billion Bailout Fueled by Pizza.” Citigroup has been in trouble for months. I compared my Citi statements and offerings to my Chase statements and concluded that Chase was in a stronger position. I didn’t comment on it because I am concerned speculation may contribute to Citi’s problem.
November 25, 2008 – 10:24 am
The bailout of Citigroup, which put the government at risk of hundreds of billions of dollars in losses, was finalized on Sunday. The following Tuesday my wife and I received a notice of change in terms from Citigroup. Take it or leave it, or pay off the account. Millions of credit card holders in the [...]
November 19, 2008 – 1:20 pm
Mortgage brokers are out and direct lending is in. Many of the major mortgage lenders that brokers dealt with nationwide have either gone out of business, been acquired or pulled back. Some are under indictment for mortgage fraud, while others – both mortgage brokers and mortgage wholesalers – are telling about sex, drugs, parties, and [...]
November 19, 2008 – 12:25 pm
Aline van Duyn of FT.com wrote a great article that explains a few things about mortgage modifications. I quote part of van Duyn’s article below. But that is not the real shocker. While approximately 35 percent of people are struggling with mortgages, what really drives me wild is what happens when the neighbor gets $100,00 [...]
November 14, 2008 – 9:42 pm
Today, about 80 percent of the $1.8 trillion in troubled mortgage loans belong to investors, according to Deutsche Bank. The rest are considered “whole loans,” held by banks or government-run mortgage giants Fannie Mae and Freddie Mac. Some people might not feel sorry for the investors, but others think investors were mislead about the safety [...]
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