Finally help for those wicked HELOC & 2nd mortgages

I'll take all the help I can get.

http://www.forbes.com/feeds/afx/2009/04/28/afx6349153.html

I talked to CitiMortgage again this morning and my proposal for HELOC settlement of 10% is being reviewed. Crossing my fingers!

Saw something about this on FOX business. I think it's smoke and mirrors again. What mortgage company in their right mind is going to trade a $500 payment to write down $200K in principal on an upside down HELOC ??

BTW- they are using this as a way to Torpedo the Cram Down legislation being negotiated in Congress. This plan was contrived by Gietner and he's a stooge for the banks