Close

Bob Christian

CHMS, ePRO®, HARRL
  4.96/5 View Ratings
Upside Real Estate
< BACK Subscribe

BIG NEWS for those with Citigroup mortgages!

February 13th, 2010


Citigroup to Ease Foreclosure Process

Citigroup announced Thursday that it will let delinquent home owners who don’t qualify for any federal relief program stay in their homes for six months as long as they turn over the keys and leave the property in good condition when the grace period expires.

The bank estimates that more than 20,000 borrowers in hard-hit states like Michigan, Ohio, Florida, Illinois, Texas, and New Jersey could be eligible.

Citigroup is hoping its plan will prevent borrowers from damaging their homes before they depart, which will save the bank significant repair dollars. The program also allows the company to bypass the slow-moving foreclosure process and gives the bank more control over when it puts properties on the market.

Source: The Washington Post, Renae Merle (02/11/2010)

Join the discussion

To post a comment on this blog post, you must be an HAR Account subscriber, or a member of HAR. If you are an HAR Account subscriber or a member of HAR, please click here to login. If you would like to create an HAR Account account, please click here.

Login to Comment
Disclaimer : The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Houston Association of REALTORS®

Join My Blog

Bob's Real Estate BLOG! Covering anything from Real Estate News, Local Governmental Issues or anything that may affect you, your family and your property.
Upside Real Estate
3319 Beachwater Drive, Katy, TX 77450   Get Directions
Phone: (832) 875-8555
Fax:
  • Archive
    •     2019
    •     2010
    •     2009