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An Early Christmas Present from Citigroup May Mean Temporary Protection from Foreclosure

It was just announced that CitiMortgage and CitiFinancial North American will be suspending foreclosures for the holiday season. The St. Louis Business Journal reported that Sanjiv Das, president and CEO of CitiMortgage, announced “borrowers with first mortgages owned by the units and who meet certain criteria won’t be subject to foreclosure sales or notifications during a 30-day suspension effective Friday, December 18th through January 17th, 2010.” The suspension will affect loans owned by Citi and is expected to postpone foreclosure for 2,000 borrowers and receipt of foreclosure notices for another 2,000 borrowers.

And with the foreclosure rates in St. Louis, Missouri hitting an all-time high, this sure could be considered a Christmas miracle.
If you, like so many others, are wondering when to file bankruptcy, it seems that Citi group has given you a little extra time to say “now.” But, remember, 30 days will fly by and, if you will need protection from foreclosure, it is important not to wait to get information from a Missouri or Illinois bankruptcy lawyer about saving your home.

Chapter 13 bankruptcy in Missouri and Illinois can stop a foreclosure and let you reorganize your bills into one low monthly payment. Not only can it protect you from foreclosure but it can also offer credit card debt help, stop a wage garnishment, save your car from repossession, and offer other legal protection from your creditors. So, if you have a mortgage with CitiMortgage and are in danger of default, think of this suspension as a gift. It is the gift of time—time to find all the information you need to keep your family from living on the streets. At Castle Law Office, we talk to people in danger of losing their homes for free every day. So, pick up the phone to give us a call and get the protection from foreclosure that you and your family deserve.

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