During the holiday season, Citigroup has put about 4000 foreclosures on halt. Both Citi Mortgage and Citi Financial will halt all foreclosure proceedings on first mortgage accounts nationwide and cease eviction on REO properties already seized ceased. This took effect on December 18th 2009 and will remain in effect until January 17, 2010.
Citi says it’s simply hoping to bring some holiday relief to its customers: “We hope that with this suspension we can make the holidays a little less stressful for our customers who are going through a very difficult time,” said Sanjiv Das, president and CEO of CitiMortgage. “And we will continue to look for meaningful ways to assist our customers experiencing hardship.”
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