Tag Archives: Friends of Geithner

Only fools pay their mortgages. Wise men have friends in the Treasury

I told you so:

When I first called Chase in October, a representative named Sarah said I didn’t qualify for a loan modification because I wasn’t yet 90 days past due. The only “loan modification” she could offer me was a “repayment plan” under which I paid $400 more per month for six months until I was current again.

“It sounds as if I would be better off waiting to fall 90 days behind,” I said. “I think I’ll wait for that.”

Only fools pay their mortgages. Wise men, whether their business is trucking or insurance, have spent their time nursing connections at the Treasury Department.