Milwaukee, Wisconsin-based Marshall & Ilsley, a diversified financial services corporation has announced that it has extended its foreclosure moratorium an additional 90 days – through September 30, 2009.
The initial moratorium was announced on December 18, 2008, as part of M&I’s Homeowner Assistance Program. The moratorium is on all owner-occupied residential loans for customers who agree to work on faith, to reach a successful repayment agreement. The moratorium applies to applicable loans in all M&I markets.
It has reported that 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.
Marshall & Ilsley Corporation (NYSE: MI) is a diversified financial services corporation. It provides trust and investment management, equipment leasing, mortgage banking, asset-based lending, financial planning, investments, and insurance services
