CitiGroup Says CitiMortage and CitiFinancial Will Stop Foreclosures for One Month

Posted on | December 18, 2009 | 2 Comments

On Thursday we learned that CitiGroup will stop foreclosures for one month which will allow homeowners to stay in their homes through the hoiday season.  Citigroup said that both CitiMortgage and CitiFinancial would suspend all foreclosures for 30 days or through January 17th.  The banking giant has struggled through much of 2009 so they know just how hard it can be to “pay the bills.”


During this month long period not only will Citi stop issuing foreclosure letters but they will also stop any evictions on real estate owned properties.  Over the next 30 days, CitiGroup claimed that approximately 2000 borrowers were scheduled to have foreclosure sales while another 2000 were to receive foreclosure notifications.

Basically CitiGroup is saying “Merry Christmas and a Happy New Year” to those who are going through foreclosure.  Please understand that this is not forever and if you are in this situation you should strongly look into your options when it comes to avoiding foreclosure.  Make sure to check out the Making Home Affordable website and see if you qualify for a home loan modification.

Author: Mike Garner

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