Friday, February 12, 2010

CitiMortgage launches program for distressed homeowners - South Florida Business Journal:

Distressed Florida homeowners whose loans were financed by CitiMortgage may be able to stay put for a while and avoid the pain of foreclosure proceedings under a new program, the company said Thursday.The deed-in-lieu program – which, beginning Friday, will be tested in Florida and five other states – allows those facing foreclosure to remain in their homes for six months, in exchange for signing over their property deeds to CitiMortgage at the end of the period.

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