Country's largest banks suspend foreclosures
source: http://www.bizjournals.com/sanfrancisco/stories/2009/02/09/daily93.html
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Wells Fargo, J.P. Morgan Chase, Bank of America and Citigroup Inc. have agreed to halt home foreclosures while the federal government works out a plan to stabilize the nation’s banking industry.
“We will not add to the foreclosure process any new owner-occupied residential loans that are owned and serviced by J.P. Morgan Chase,” said J.P. Morgan Chase CEO Jamie Dimon in a Feb. 12 letter to Rep. Barney Frank (D-Mass.), chairman of the House Financial Services Committee.
That moratorium would remain in effect through March 6.
“We will not add to the foreclosure process any new owner-occupied residential loans that are owned and serviced by J.P. Morgan Chase,” said J.P. Morgan Chase CEO Jamie Dimon in a Feb. 12 letter to Rep. Barney Frank (D-Mass.), chairman of the House Financial Services Committee.
That moratorium would remain in effect through March 6.
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