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M&I Extends Its Foreclosure Moratorium

""Marshall & Ilsley Corporation"":http://www.micorp.com (M&I), a diversified financial services corporation headquartered in Milwaukee, has extended its foreclosure moratorium for distressed homeowners.

Begun in December 2008 as part of M&I's Homeowner Assistance Program, the moratorium applies to applicable loans in all M&I markets and covers all owner-occupied[IMAGE] [COLUMN_BREAK]

residential loans for customers who agree to work in good faith to reach a successful repayment agreement.

This is not the first time M&I has extended the program, which was previously lengthened in July and again in October of last year. M&I has had the foreclosure suspension in place for a full 28 months now. The company did not reveal when this most recent extension would end.

M&I's Homeowner Assistance Program also offers a foreclosure abatement program that features several refinancing options, including term extensions and reduced rates, to lower borrowers' monthly payments.

""M&I"":http://www.mibank.com is the largest Wisconsin-headquartered bank, with 188 offices throughout the state. In addition, M&I has 53 locations in Arizona; 36 offices along Florida's west coast and in central Florida; 33 offices in Indianapolis and nearby communities; 26 offices in metropolitan Minneapolis-St. Paul, and one in Duluth, Minnesota; 17 offices in the greater St. Louis area; 15 offices in Kansas City and nearby communities; and one office in Las Vegas.

About Author: Heather Cernoch


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