Tuesday, April 15, 2008

Pick-A-Problem

Wachovia, Pick-A-Pay Becomes Pick-A-Problem

Wachovia Corp.'s (WB) controversial Pick-a-Payment mortgage program lets borrowers choose between four monthly payment amounts. Unfortunately for Wachovia, these "Pick-a-Pay" borrowers are increasingly inventing a fifth choice: Not making mortgage payments at all.
at

2 comments:

  1. new comerApril 15, 2008 at 9:26 AM

    Futures are higher but personally i don't think they are sustantable (pls don't mind if you have different view)

    with a higher PPI, record high crude oil (now is 113.71) and foreclosures, i just don't understand why the market is still positive.

    ReplyDelete
  2. EricApril 15, 2008 at 9:50 AM

    Thank you for having and sharing your different view.

    another, unreported thing is that the regional banks with took a beating over the past 2 days are posting better than expected earnings... though, it's still grim.

    in fact, almost all the ones I'm tracking and that I have seen are beating estimates.

    ReplyDelete