Citigroup to Suspend Foreclosures

As Wall Street and Banking institutions continue to combat their bad reputation and the bad vibes caused by the economic crisis and their ensuing bailkoutm, Citigoroup is now suspending foreclosures for 30 days during this holiday season.

The temporary repreive on foreclosures affects 4,000 borrowers, more or less, all of whom were facing foreclosures because of loans and mortgages that did not worlk out for them. Citi is halting evictions that were already underway. All major lenders had suspended foreclosures under the Obama plan.

Citigroup to Suspend Foreclosures
seattle times

Citigroup Inc. will suspend foreclosures and evictions for 30 days in a temporary break for about 4,000 borrowers during the holiday season. The New York-based bank said Thursday the suspension will run from Friday through Jan. 17. It applies only to borrowers whose loans are owned by Citi.

Citigroup to Suspend Foreclosures