http://finance.yahoo.com/news/Citi-to-suspend-foreclosures-apf-548845306.html?x=0&sec=topStories&pos=1&asset=&ccode=
That's real white of them isn't it?
Citigroup Inc. will suspend foreclosures and evictions for 30 days in a temporary break for about 4,000 borrowers during the holiday season.
The New York-based bank said Thursday the suspension will run from Friday through Jan. 17. It applies only to borrowers whose loans are owned by Citi. Borrowers who make payments to Citi but whose loans are owned by other investors are out of luck.
"We want our borrowers to have a much less stressful time, to spend their time with their families during the holidays as opposed to worrying about their homes," Sanjiv Das, head of the company's mortgage division, said in an interview.
http://market-ticker.denninger.net/archives/1747-Citibank-Dissembling-Again-Foreclosures.html
Citigroup said the suspension will affect about 2,000 borrowers scheduled for foreclosure and another 2,000 that were to receive foreclosure notifications in the next 30 days.
"We hope that with this suspension we can make the holidays a little less stressful for our customers who are going through a very difficult time We are doing this so as to avoid having to recognize the loss on properties that are deeply underwater, thereby cooking our books until the quarter is reported so we don't have to declare insolvency," said Sanjiv Das, president and CEO of Citigroup's mortgage division, in a statement.
There - fixed it for 'ya.
