Citigroup, JPMorgan Chase Suspend Foreclosures
February 16, 2009 by Elad Bushari · Leave a Comment
JPMorgan Chase and Citigroup today announced a moratorium on mortgage foreclosures through next month. JPMorgan’s foreclosure freeze will be good through March 9, while Citigroup’s will last until March 12.
In a statement, Citigroup said the program “expands on Citi’s current foreclosure moratorium in which Citi does not initiate or complete a foreclosure sale on any eligible borrower [who is] working in good faith with Citi and has sufficient income for affordable mortgage payments.”
Just hours before the announcement, Business Week posted an investigative feature, “How Banks Are Worsening the Foreclosure Crisis,” that details the ways “banks and their advocates in Washington have delayed, diluted and obstructed attempts to address the [foreclosure] problem.”
the Broker of Bushari Group Real Estate, a boutique luxury real estate firm specializing in the metro Boston area, Cambridge and Brookline. Elad believes in superb customer service and strives to exceed expectations at every opportunity. Elad was one of the top 30 brokers in the nation under 30 years old (Realtor Magazine, June 2009) and one of the top 25 Real Estate Agents in the metro Boston area in 2008 (according to MLS PIN). In his free time, Elad enjoys snowboarding, scuba diving and is an avid world traveler. Elad can be reached at (617) 529-7079.
