Headline Alert
Citi Suspending Foreclosures During Holiday Season
The AP is reporting that Citigroup (c) will temporarily suspend foreclosures and evictions for 30 days during the holiday season.
The move is expected to affect about 4,000 borrowers.
Citi said Thursday the suspension will run from Friday, December 17th through January 17th. However, it is important to note that the initiative applies only to borrowers whose loans are owned by Citi.
"We want our borrowers to have a much less stressful time, to spend their time with their families during the holidays as opposed to worrying about their homes," Sanjiv Das, head of the company's mortgage division, said in an interview with AP.
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