Citi Hits 12 Year Low

Citi is imposing new initiatives to help at risk borrowers stay in their homes. These new initiatives coincide with a brand new 12 year low for the companies stock. Ouch! Below is a monthly chart of Citi that goes all the way back to the late 80's...you can see how much faster the fall occurs as opposed to the rise.

It will be interesting to see how these new policies work out for Citi in the long run. I've been negotiating with one of the other big banks on a mortgage for an estate that is currently in probate. Without mentioning any names (although it's one of the top 4), I will say that I'm not very impressed with the way the bank has been handling the situation. The bank I'm dealing with is doing everything possible to not work with my clients to keep the property out of foreclosure...a very opposite approach to what Citi is imposing.

Maybe the bank I'm dealing with just needs their stock price to hit a 12 year low and then they'll get more friendly, or maybe their policies work better for them and that's why they are not in the same situation as Citi. Who knows, but it sure makes sense to try to keep people in the homes so that mortgage payments can continue to be made. Only time will tell which method will work.

Make sure to take a moment today and remember all the veterans...we're all very grateful for their services.


Good luck out there.

TLT