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Loss Mitigation

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M&I Pushes 10 Months of Moratorium 

Jun 26, 2009By

Wisonsin-based mortgage banker Marshall & Ilsley [stock MI][/stock] today extended its voluntary foreclosure moratorium an additional 90 days. The foreclosure freeze, initially adopted in December 2008, applies to all owner-occupied residential loans for customers that agree to work toward a repayment agreement. The moratorium is now effective for all applicable loans in all M&I markets through Sept. 30, 2009. September marks the 10th consecutive month the moratorium will have been in effect since its announcement in December.