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M&I Extends Foreclosure Moratorium Through September 30

""Marshall & Ilsley Corporation"":http://www.micorp.com/mibank/centers.cfm?ObjectID=09A9D496-7222-4ED5-A745220FE86B5064 (M&I), a Milwaukee-based financial services corporation, has extended its foreclosure moratorium through September 30, 2010, tacking on an extra three months to the previously lengthened moratorium.


The foreclosure freeze-which was initially announced December 18, 2008, as part of M&I's Homeowner Assistance Program-applies to all owner-occupied residential loans for customers who agree to work in good faith to reach a successful repayment agreement.

Supplementing the moratorium, the corporation's Homeowner Assistance Program provides additional channels for borrowers to obtain aid for distressed loans. A foreclosure abatement program offers refinancing opportunities to reduce monthly payments, and other programs that offer early identification and proactive assistance to potentially distressed borrowers.

Also, thanks to an increase in capital from the U.S. Treasury in mid-November 2008 through April 30, 2010, M&I has extended more than $7.4 billion-and counting-in new credit to new and existing customers.

M&I also provides trust and investment management, equipment leasing, mortgage banking, asset-based lending, financial planning, investments, and insurance services from offices across the country, including Wisconsin, Arizona, Indiana, Florida, Missouri, Minnesota, and Nevada.

About Author: Haley Owens


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