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CIT and Bankruptcy are now in a relationship! or... another one bits the dust!

News release: CIT has filed for bankruptcy. OK this might not be a surprise, but has anyone figured out what they did with the $$$$ Millions they got just a few months ago. Did they too get bonuses all distributed and spent and then went into bankruptcy?

Now what about all the homeowners are caught up in this bank and where are all the mortgage loans going or are they already sold away.... and if yes - where did that money go? What role did this bank play in the foreclosure/Mortgage crisis? How many short sale requests did they deny?

These and many many more questions, we will probably never get the answers to. And now all we can do is wonder which bank will be the next to fall? And how long will it take it rise it head again?

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Rosemary Brooks

Patrick Williams & Associates

Mother and Daughter Realty Team

PH: 866-543-0461

FAX: 866-815-1649

EMAIL: info@motheranddaughterrealtyteam.net

WEBSITE: www.motheranddaughterrealtyteam.com

Posted by Rosemary Brooks -Mother & Daughter (866)-750-8282 on 11/02/2009 01:38 AM

Comments (6)

Falling Banks - Add CIT to the List in the ActiveRain Channel

short sale, mortgage, foreclosure, bankruptcy, rosemary brooks, the motheranddaughterrealtyteamcom

Originally posted at: Mother & Daughter Blog: CIT and Bankruptcy are now in a relationship! or... another one bits the dust!

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6 Comments on CIT and Bankruptcy are now in a relationship! or... another one bits the dust!

NOV

What we really need right now is fewer CIT's....No more banks too big to fail....who take gobs and still fail.

Times that we live in are sure different and unfortunately i don't think that we have seen it all. Have a great week!

The bailouts should cease and desist. Bail out the common man. That would be money well spent.

NOV

Jim thanks, I agree. If they don't get it together --- they are going to destroy themselves (unfortunately and alot of innocent people with them).

Sonja - nope it is not over = unfortunate and confusing. Oh did I say stressful too

Robert - this is so true and to me obvious, but seems like they don't want to help the homeowners .... just the banks -- that is because of greed.

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