Citigroup will hold off on [...]]]> 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).