In November, 2008, I wrote how JP Morgan Chase and Citigroup were putting a moratorium on owner-occupied home foreclosures (http://realtyramblings.blogspot.com/2008/11/banks-limit-foreclosures.html). Today the banks announced that this policy will be extended through March 6, 2009.
Citigroup said that its foreclosure moratorium applies to all ”Citi-owned first mortgage loans that are the principal residence of the customer, as well as all loans Citi services where we have reached an understanding with the investor,” until the Obama administration has completed the details of a loan modification program or March 12, whichever is earlier.
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