Citimortgage Announces Three Month Foreclosure Suspension For Gulf Oil Spill Areas

06.17.10 |

CitiMortgage has announced a three-month foreclosure suspension program for families with CitiMortgage-owned home loans in the Gulf Coast region. The move is the company's way of allowing people hit hard by the ongoing Gulf oil disaster to remain in their homes. The foreclosure suspension will remain in effect through September 17th. Sanjiv Das [[ sahn-JEEV dahs ]], CitiMortgage president and CEO, estimates the program will cover about 12-hundred homeowners in more than 500 counties in Louisiana, Alabama, Mississippi and Florida.

 Homes within about 25 miles of the affected Gulf spill coastal areas are eligible. Those CitiMortgage holders will not be subject to foreclosure sales or notifications during the suspension period. For more information, CitiMortgage borrowers can call 1-866-219-8155 starting Friday.