Comments on: Finally seeing efforts pay off… http://inspiredthemovie.com/blog/2007/05/09/finally-seeing-efforts-pay-off/ Thu, 03 Jun 2010 11:36:23 -0400 http://wordpress.org/?v=2.8.4 hourly 1 By: Eurosurbalono http://inspiredthemovie.com/blog/2007/05/09/finally-seeing-efforts-pay-off/comment-page-1/#comment-5001 Eurosurbalono Mon, 10 Nov 2008 11:38:38 +0000 http://inspiredthemovie.com/blog/2007/05/09/finally-seeing-efforts-pay-off/#comment-5001 J.P. Morgan Chase & Co. says it will modify the terms of $70 billion in troubled, mostly adjustable-rate mortgages it holds. The New York bank inherited many of the loans as part of its September purchase of a failed competitor, Washington Mutual Inc. (NYSE:WM), and its move will cover as many as 400,000 borrowers. J.P. Morgan said Friday the borrowers will be moved into loans carrying lower interest rates, smaller principal amounts or other more-affordable terms, The Wall Street Journal reported. The move came shortly after the bank received a $25 billion capital infusion from the U.S. Treasury's program to strengthen financial institutions and get credit flowing. "Our goal in doing this was to come up with something that we think will lead the industry in helping as much as possible on this issue," said J.P. Morgan executive Charles Scharf. John Taylor, chief executive of the National Community Reinvestment Coalition, said the action was "a gutsy move on their part. They are bending over backward to try to reach out to these people." J.P. Morgan Chase & Co. says it will modify the terms of $70 billion in troubled, mostly adjustable-rate mortgages it holds.

The New York bank inherited many of the loans as part of its September purchase of a failed competitor, Washington Mutual Inc. (NYSE:WM), and its move will cover as many as 400,000 borrowers. J.P. Morgan said Friday the borrowers will be moved into loans carrying lower interest rates, smaller principal amounts or other more-affordable terms, The Wall Street Journal reported.

The move came shortly after the bank received a $25 billion capital infusion from the U.S. Treasury’s program to strengthen financial institutions and get credit flowing.

“Our goal in doing this was to come up with something that we think will lead the industry in helping as much as possible on this issue,” said J.P. Morgan executive Charles Scharf.

John Taylor, chief executive of the National Community Reinvestment Coalition, said the action was “a gutsy move on their part. They are bending over backward to try to reach out to these people.”

]]> By: Richard http://inspiredthemovie.com/blog/2007/05/09/finally-seeing-efforts-pay-off/comment-page-1/#comment-144 Richard Tue, 15 May 2007 01:45:03 +0000 http://inspiredthemovie.com/blog/2007/05/09/finally-seeing-efforts-pay-off/#comment-144 This blog post reminds me of something a sportswriter wrote once. He said that in athletics, the difference between greatness and average performance isn't talent. It's consistency. Any pro athlete can be great occasionally. But only a few are great all the time. The same is true for losing weight I guess. to be successful, you've got to do the right things consistently... Richard This blog post reminds me of something a sportswriter wrote once. He said that in athletics, the difference between greatness and average performance isn’t talent. It’s consistency. Any pro athlete can be great occasionally. But only a few are great all the time.

The same is true for losing weight I guess. to be successful, you’ve got to do the right things consistently…

Richard

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