M&I extends foreclosure moratorium
Milwaukee-based Marshall & Ilsley Corp. has extended its mortgage foreclosure moratorium an additional 90 days – through Sept. 30. The initial moratorium was announced in December as part of M&I’s homeowner assistance program.
The moratorium is for all owner-occupied residential loans for customers who agree to work with M&I to reach a successful repayment agreement. The moratorium applies to applicable loans in all M&I markets.
The homeowner assistance program also features streamlined assistance programs for potentially distressed homeowners who are identified in advance and proactively offered assistance. It also offers a foreclosure abatement program that features several refinancing options, including term extensions and reduced rates that can be used, as necessary and applicable, to reduce monthly payments.
