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Citigroup agrees to deal on restructuring U.S. home loans (International Herald Tribune)
Under the plan, bankruptcy judges will be allowed to alter home loans in an effort to prevent foreclosures.
Read more...Citi reaches deal with lawmakers on home loans (AP via Yahoo! News)
Democratic lawmakers have reached a deal with Citigroup Inc. on a plan to let bankruptcy judges alter home loans in an effort to prevent foreclosures and urged other lenders to follow suit.
Read more...New Research: Fallout from Reckless Lending Continues as Foreclosures Outpace Efforts to Modify Home Loans (PR Newswire via Yahoo! News)
The subprime market for home loans has dried up for now, but the bad subprime loans made at the height of the mortgage bubble continue to damage neighborhoods and drown the economy in foreclosures. New information in a Center for Responsible Lending report provides a fresh, grim snapshot of the spreading negative effects of subprime mortgages that were aggressively marketed up until last year.
Read more...Lawmakers Reach Deal With Citi on Home Loans (New York Times)
Democratic senators have reached a deal with the banking giant Citigroup on a plan to allow bankruptcy judges alter home loans in an effort to prevent foreclosures and urged other lenders to follow suit.
Read more...Citigroup nears compromise on some home loans (AP via Yahoo! News)
Citigroup Inc. is in advanced talks with lawmakers on a plan to let bankruptcy judges alter home loans in an effort to prevent foreclosures, a person briefed on the matter said Thursday.
Read more...Stocks mostly higher after mortgage deal (AP via Yahoo! News)
A deal that would prevent more mortgage foreclosures has pulled Wall Street out of a deep early slump and given the market a most higher close. Democratic lawmakers reached an agreement with Citigroup Inc. on a plan to let bankruptcy judges alter home loans in an effort to prevent foreclosures. Other lenders are expected to follow suit.
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