JPMorgan Chase and Citigroup are halting home foreclosures while the Obama administration develops its plans to help the battered American housing market. JPMorgan’s chief executive, Jamie Dimon, said the bank planned plans to halt new foreclosures for owner-occupied home loans through March 6. Mr. Dimon made the pledge in a letter to Representative Barney Frank, [...]
JPMorgan Chase and Citigroup are Halting Foreclosures
February 13th, 2009 · No Comments
Tags: "mortgage modification" · Foreclosure Information · Government Bailout
The Fed Launches Another Mortgage Bailout Plan
November 25th, 2008 · No Comments
The Federal Reserve threw a massive life-line to consumers on Tuesday with two new programs aimed at making it easier for them to obtain loans for homes, cars and on credit cards. Under the new mortgage program, the Fed will buy up to $100 billion of debt issued by government-sponsored mortgage enterprises Fannie Mae, Freddie [...]
Tags: Government Bailout
Roundup of Lenders Participating in the Streamlined Mortgage Modification Plan
November 13th, 2008 · 1 Comment
Fannie Mae, Freddie Mac and HOPE NOW, along with the Treasury and Federal Housing Finance Agency (FHFA), devised a free market plan to help only those homeowners whose mortgages are guaranteed toxic. In compliance with the Bush Administration doctrine – assist no homeowner who can make his payments or can be foreclosed profitably. [Sarcasm homegrown]. [...]