Citigroup mortgages lowered: Citicorp to lower some mortgage pa...

Citigroup Inc. said that it will lower mortgage payments for some homeowners to an average of $500 a month for three months as part of a new program to help the unemployed. Full Story
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FINE

Fort Lauderdale, FL

#1 Mar 3, 2009
For just only three months? Thanks but not thanks.
Hello big banker, if you want to get your &*& saved. Save consumers FIRST.
Bob

Boca Raton, FL

#2 Mar 3, 2009
If you do not have a job and no money , what help is it to lower your payments. How about we lower everyones payments no matter if you lost your job or not. Everyone is struggling to make ends meet. How about this president decides to help everyone for a change.
Redneck

Fort Pierce, FL

#3 Mar 3, 2009
Great! Give everyone a reason to stop making their payments on time!

Since: Jan 09

Miami, FL

#4 Mar 3, 2009
It is a start, but we can still do better.

Most households have two incomes, so at least $500 mortgage payments should help for those three months until the other person finds a job.

Now the upside is that a maximum unemployment check will almost pay for the mortgage loan, so I think it would be more considerate for the banks to lower their payment to about $450.
florida unemployed

AOL

#5 Mar 3, 2009
Nice job citigroup! I wish I had them I have Chase and asked for a little help since I am recently unemployed for the past 2 months. They pretty much said to me TO F in bad just pay up or go in forecloseuer Jerks!
DKR

Chicago, IL

#6 Mar 3, 2009
How about lowering mortgage payments for those of us that are working stiffs? The extra few hundred a month would be a big help...
glenn

Fort Lauderdale, FL

#7 Mar 3, 2009
Thanks for helping, guys, but why do you have to wait until you're behind two months? Should I just stop paying my mortgage for a couple of months until they notice and call me? I had the sense and good fortune to have some money saved to live from and now I feel like less responsible people are being rewarded.
Citi is finished

Lincoln, UK

#8 Mar 3, 2009
Citi is finished! Good job, it was Citi with the help of Clinton who started this mess with the repeal of the Glass Steagall act in the 90's.
FL Guy

Boynton Beach, FL

#9 Mar 3, 2009
FINE wrote:
For just only three months? Thanks but not thanks.
Hello big banker, if you want to get your &*& saved. Save consumers FIRST.
I agree. Three months is joke in this economy. They would rather sell your house in forclosure and lose money then help someone out.
Go Canes

Dallas, TX

#10 Mar 3, 2009
Shouldn't they be called Govgroup now ?
Joe

Fort Lauderdale, FL

#11 Mar 3, 2009
I am a lucky person. I have a job and I have always paid my bills, even when I was unemployed. I was just one of those people that lived well within my means and prepared for that stormy day. Now I see so many people that are now in that terrible position, but they did not plan and most have lived above their means for a long time. My "reward" for being a responsible person is that my tax dollars bails out those that wasted their money and did not prepare for these stormy times. I get nothing, they get a hand-out. Perhaps I am the crazy one.
fsd

AOL

#12 Mar 3, 2009
What ever happened to "personal responsibility?" It has already been documented that individuals that were given leniency from their lending institutions are still going into foreclosure. I say let us ride out this mess, eventually things will get back to normal. It may take several years. Unfortunately individuals bad choices, greed and lack of "fiscal responsibility" are to blame.
Alt-A

Delray Beach, FL

#13 Mar 3, 2009
So if someone with no job lied that they had one to get no-doc loan, and then they admit they never had a job, they get their payments lowered?

What if someone works under the table - wouldn't this incent them to stop making payments, and claim they've lost their job even though they didn't?
XXX

United States

#14 Mar 3, 2009
All you idiots that are complaining are the people that bought houses that you should have not bought in the first place.
Zero down, interest only. Didnít it dawn on you how Joe the Plumber was living in a 500K house.
Smart Chick

Fort Lauderdale, FL

#16 Mar 3, 2009
Joe wrote:
I am a lucky person. I have a job and I have always paid my bills, even when I was unemployed. I was just one of those people that lived well within my means and prepared for that stormy day. Now I see so many people that are now in that terrible position, but they did not plan and most have lived above their means for a long time. My "reward" for being a responsible person is that my tax dollars bails out those that wasted their money and did not prepare for these stormy times. I get nothing, they get a hand-out. Perhaps I am the crazy one.
I know--something is wrong with this picture...
in ba lievable

United States

#17 Mar 3, 2009
glenn wrote:
Thanks for helping, guys, but why do you have to wait until you're behind two months? Should I just stop paying my mortgage for a couple of months until they notice and call me? I had the sense and good fortune to have some money saved to live from and now I feel like less responsible people are being rewarded.
AMEN!!!!
Crap Overload

Fort Lauderdale, FL

#18 Mar 3, 2009
Hey, I was unemployed last year for a few months before finding something! No one was busting their ass to help me lower my payments at the time!

How about we take care of ourselves like I did! I cut back spending and used some savings!!!
DKR

Chicago, IL

#19 Mar 3, 2009
Joe wrote:
I am a lucky person. I have a job and I have always paid my bills, even when I was unemployed. I was just one of those people that lived well within my means and prepared for that stormy day. Now I see so many people that are now in that terrible position, but they did not plan and most have lived above their means for a long time. My "reward" for being a responsible person is that my tax dollars bails out those that wasted their money and did not prepare for these stormy times. I get nothing, they get a hand-out. Perhaps I am the crazy one.
Not crazy, just responsible. And judgmental, too. Many of those who are in trouble now were living well within their means until they lost their jobs and incomes. It's very easy to say "just get any job", but that's not always practical. In some cases, it costs more to work "just any ol' job" then what you would earn if you collected unemployment and left your time open to seek a job that's closer to the income level you were previously working. Or how about those of us who were living within our means and then saw our income(s) and net worth(s) drastically reduced after the recession began?
Even when you are responsible with your savings, you can eventually reach a point where you'll exhaust those resources as well.
Fact is, almost all of us are hurting now. No one is immune, even if you are paying your bills. Having said that, it would be preferable if all banks holding mortgages made this same offer to all its mortgagees. That way, the assistance is universal.
free bee

Warren, NJ

#20 Mar 3, 2009
why does everfyone expect a hand out, why not put everyone in the country on welfare
Fitzburger

Fort Lauderdale, FL

#21 Mar 3, 2009
Citigroup said that it will lower mortgage payments for some homeowners to an average of $500 a month for three months as part of a new program to help the unemployed.

And pray tell, what in the hell will that do for someone who was just laid off, fired or whatever the chosen term is for being without work? They may as well evict the poor slob and be done with it!

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