Tuesday, November 11, 2008

WHO TV - Des Moines: Citigroup imposing foreclosure moratorium

WHO TV - Des Moines: Citigroup imposing foreclosure moratorium: "NEW YORK (AP) - Citigroup is the latest big bank to announce a moratorium on foreclosures to trim its losses from bad mortgages.

Citigroup says if a borrower is in his principal residence, is working with the bank in good faith, and has enough income for affordable mortgage payments, it won't initiate a foreclosure or complete a foreclosure sale."

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