Portal for Worldwide Housing Information
Home » Business »

Real Estate

Citi says yes to foreclosure prevention plan

Banking giant Citigroup has given its nod to the law that would permit judges to bring changes in mortgage debt for people who are on the verge of bankruptcy. It is believed that the agreement between Citigroup and senators would encourage other mortgage lenders to be a party of the program. Earlier the entire banking industry including Citigroup and National Associatio of Realtors was against the idea that would enable the courts to interfere in their mortgage-related activities. But now, with the initiative taken by the Citigroup, the things are going to change and the judges will have more say in the proceedings of banking industry. They would even lower the mortgage interest rates.

Navigate Portals
©Copyright 2006-2010 - Navigate Portals. Contact Us
All Rights Reserved.