Foreclosure moratorium and Homeowner assistance program from Marshall and Illsley.

Marshall & Ilsley Corp., (M&I) has put in place a second extension of its existing foreclosure moratorium program that will extend the moratorium for an additional 90 days and it will run through Sept. 30. However, we wouldn’t be surprised to see a further extension after that date, and as of October, the program was extended. More.

The bank, which is based in Milwaukee Wisconsin and trades on the New York Stock Exchange as (NYSE: MI), initially had announced its first 90-day foreclosure moratorium on Dec. 18 and then went ahead and extended in it March through June 30. There are some criteria. The moratorium is on all owner-occupied residential loans for customers who agree to work with the bank in good faith to reach a successful repayment agreement that both the bank and the homeowner can agree upon.

The Kansas City Business Journal rank M&T Bank as No. 7 on the  list of midwest area banks, which is based upon market share of banking deposits, which currently stands at a little over 5 percent. Marshall & Ilsley had almost $35 billion in deposits scatted across scores of branches throughout the midwest part of the country. Find other mortgage help programs from states in the midwest.

In addition to the foreclosure moratorium, the bank will continue to provide mortgage relief through its Homeowner Assistance Program. This program also provides a variety of options for homeowners, including streamlined assistance for potentially distressed homeowners and others who need mortgage help. The assistance program offers a foreclosure abatement program with several refinancing options offered to homeowners, including term extensions that allow the loan to be repaid over a longer period of time, and also reduced interest rates are available.