Yeah!!! Citi announced that it will let borrowers stay in their homes for up to six months plus snag $1,000 to help defray costs for relocation, if they agree to a deed-in-lieu of foreclosure. (i.e., so you will stop suing them, trying to get a loan mod, short sale or file bankruptcy not to mention [...]
Holiday foreclosure moratorium is a worthless!
December 22, 2009 By 1 Comment
While Bank of America, JPMorgan Chase & Citi are suspending foreclosures for the holidays, just like Fannie Mae and Freddie Mac, this is a nothing more than a sick joke on those in Texas. Why? Quite simply it doesn’t help you one bit. I will make a fearless promise…ready…no one in the State of Texas will be foreclosed [...]
Strategic defaulters put downward pressure on values
November 9, 2009 By 8 Comments
Sadly less than 20% of all homeowners facing a foreclosure situation choose to list their house for sale. The mortgage unit of Citigroup says one in five borrowers who defaults does so willingly, even though they’re able to pay the mortgage. “It’s a very large number, and it’s a very, very significant risk to the housing recovery,” [...]
