Must read Steve’s take on how fixing home mortgages won’t save the housing industry. It’s been PC for Citibank and JP Morgan Chase and all the banks to announce new touchy-feely programs (”we feel your pain”, not “your pain is our gain”) for thousands of borrowers. (I have two Citi mortgages on investment properties and just may have to find out how low they’ll go… all for the sake of reporting, of course!) But read what happened when Freddie Mac sent out help letters.
