JPMorgan and Citigroup announced last Friday that they would temporarily halt their foreclosures while they wait for the government to finalize some of its foreclosure relief package.  The foreclosure relief package was a portion of the $700 billion under the Troubled Asset Relief Program (TARP) and was outlined by Secretary of the Treasury Tim Geithner as being in the neighborhood of $50 billion.  The detail of the plan expected to be worked out by early March.

Citigroup will hold off on foreclosures effective February 12th and will do so until either March 12th, 2009 or until the government finalizes all the details of its foreclosure relief package (whichever comes first).  JPMorgan will hold off on its foreclosures until March 6th (extending a program they had initiated last year).

This entry was posted on Monday, February 16th, 2009 at 12:18 pm and is filed under Home Ownership. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. white rock real estate said at June 3rd, 2009 at 3:25 am

   Great work! I also have my own blog I just find it hard to write quality content like this.
   I guess I really don’t have the time.

2. Lavern said at June 6th, 2009 at 11:06 am

   When do you think this recession will end? Have home prices hit the bottom yet?

3. Private Label Rights said at September 1st, 2009 at 7:15 pm

   Never really looked at the information like that before. Thanks!

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