Foreclosure News of the Day: Citigroup Suspending Foreclosures . . .

At least for the holiday season.

The giant lender is playing Santa. According to the AP article, Citi to suspend foreclosures for 30 days, it will ”suspend foreclosures and evictions for 30 days in a temporary break for about 4,000 borrowers during the holiday season.”

Saying that it wanted to “relieve stress” for homeowners so that they can enjoy the holidays, the lender’s notice means that it will stop foreclosure sales from going through, as well as put a halt to evictions. The expiration date for both is January 17th.

Suspending Foreclosures: And the Grinch Is Still in the House . . .

FYI, if you make a mortgage payment to Citigroup — but your mortgage is actually owned by another lender — unfortunately this good news does not apply to you.

P.S.: Business Opportunity: Learn how to secure your financial future (and retire early) by buying foreclosures cheap.

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Copyright © 2009 Yuwanda Black for Foreclosure Business News. Article may not be reprinted or reproduced in any manner without the express, written consent of the author.