ING DIRECT, the nation's largest direct bank, will suspend foreclosure sales on occupied single-family properties through the end of March 2009, effective immediately. The bank will also suspend evictions from occupied single-family properties until Jan.15, 2009. This formalizes a previously informal, internal process.
‘As a responsible lender, ING DIRECT keeps the mortgages we originate; we do not sell them to Wall Street,’ notes Arkadi Kuhlmann, ING DIRECT's CEO. ‘We hope this foreclosure suspension will provide some relief during the holidays to those experiencing financial hardships. I call on others in the mortgage industry to step up and help homeowners with foreclosure relief during these difficult times.’
SOURCE: ING DIRECT