Citi gives foreclosure victims a Christmas present

Joshua Dorkin
foreclosure
foreclosure

While President Obama has been spanking the "fat cat bankers" for their evil ways, it seems that at least some of them may have some Christmas spirit this holiday season. According to the AP, Citigroup has decided to suspend foreclosures and evictions of 4,000 borrowers for 30 days.

"We want our borrowers to have a much less stressful time, to spend their time with their families during the holidays as opposed to worrying about their homes," said Sanjiv Das, head of Citi's mortgage division. Of course, this is all well and good for those folks in foreclosure who may find themselves temporarily spared by the company, which announced the respite would begin this Friday. However, what Mr. Das seems to have left out, was that on Jan. 17, when the moratorium ends, all bets are off.