Citigroup to Modify Thousands of Mortgages

11/11/2008

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Another Big Bank Moves to Assist Homeowners and Itself   Tue, 11 Nov 2008 07:32:32 EST Citigroup has joined Morgan Stanley Chase, the Federal Deposit Insurance Corporation (FDIC,) and a few other large banks in initiating an aggressive program to mitigate foreclosures of single family homes. The bank said on Monday that it is putting a moratorium on both initiating new foreclosures and on completing the legal process against homeowners who are currently moving toward foreclosure.? Read Full Story Email This Story To A Friend   TODAY'S VIDEO NEWS Bookmark this page or subscribe to our video RSS Feed and visit daily for breaking Mortgage and Real Estate related news. American Express to Become A Regulated Bank Bloomberg 11/11/2008 1:55:00 AM American Express to become a regulated bank, to get rescue funds from government; American Express needs to refinance $24 Billion of bonds, as debt markets freeze; Citigroup plans to modify $20 Billion of mortgages to keep people in homes Fiscal Packages Do Not Work: Analyst CNBC Videos 11/11/2008 3:45:53 AM Fiscal packages do not work. They are implemented to have a psychological impact rather than a real one, according to Roger Nightingale, strategist at Pointon York. He speaks to CNBC's Stephen Sedgwick & Sri Jegarajah. Lender To Cut Foreclosures Bloomberg 11/11/2008 5:24:21 AM Report and analysis by Ellen Braitman of Bloomberg News   Please send any feedback or suggestions directly to our editor at info@MortgageNewsDaily.com. To UNSUBSCRIBE login to our Members Area and use the Unsubscribe Feature. Your User Name is your Email Address. If you forgot your Password use our 'Forgot Password' feature. DO NOT REPLY TO THIS EMAIL.