Good money after bad?
December 9, 2008 4 Comments
On the mortgage lender front, SunTrust is asking for an additional $1.4 billion less than a month after receiving $3.5 billion from the initial Paulson bailout plan.
On the mortgage borrower front, 58% of mortgage holders who restructured their mortgages to avoid foreclosure were delinquent again within eight months.
So much for quick fixes. Some companies and borrowers can be saved, but clearly some aren’t going to make it no matter what.