Citigroup Inc. has officially become Ebenezer Scrooge. Not for the bad things they’ve done, but this is their morning after the three ghosts. They agreed to cut 4,000 loans from the chopping block and not charge them anything until January. The homes are either rentals or homes being foreclosed.
The Associated Press reported that the suspension will be in effect from Friday through Jan. 17. Unfortunately, although Citi might collect the monies every month, they may not own your loan and in order to benefit your loan must be owned by Citi.
The bottom line is no one will receive a foreclosure or eviction over the holidays. Citi will halt foreclosure sales and stop evicting homeowners from properties it has already seized. The 4,000 that will be helped out for the next 30 days had already gotten a foreclosure notice or were getting ready to receive one. Thanks Citi bank! Read all the details here.