Big banks declare moratorium, file 25 new Cuyahoga foreclosures on same day

Last Friday, February 13, Citigroup issued a press release that said:To reiterate the commitment made by Chief Executive Officer Vikram Pandit to the House Financial Services Committee on February 11, 2009: Citi has initiated a foreclosure moratorium on all Citi owned first mortgage loans that are the principal residence of the customer as well as all loans Citi services where we have reached an understanding with the investor. The moratorium is effective February 12, 2009, and will extend until

Read More...