Citi, Fannie Mae offer foreclosure, payment suspension to Gulf homeowners
By APWednesday, June 16, 2010
Citi, Fannie Mae offer mortgage relief to Gulf
DES MOINES, Iowa — Homeowners in areas of the Gulf of Mexico affected by the BP oil spill are getting mortgage relief from Citigroup Inc. and government sponsored mortgage purchaser Fannie Mae.
Citigroup says it is suspending loan foreclosures in the region through Sept. 17.
Fannie Mae says companies servicing its home loans may suspend or reduce borrower payments for up to 90 days. Additional time may be granted after a review of individual circumstances.
The eight-week-old oil disaster is affecting the coasts of Louisiana, Mississippi, Alabama and Florida.
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