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Waterbury-based bank to hold off on foreclosures
Posted on 11/14/2008
WATERBURY (AP) -- Waterbury-based Webster Bank says it will hold off on any home foreclosures for 90 days. In addition to the moratorium on mortgage foreclosures, bank officials say Webster plans to expand mortgage assistance programs to keep families in their homes. Webster officials say the bank temporarily will suspend foreclosure activity for at least 90 days for qualified homeowners who were more than 30-days delinquent on their mortgages as of Nov. 4. An executive in charge of mortgage lending for Webster says there are about 400 mortgages, worth $40 million to $60 million, that could qualify for the moratorium. The assistance program is aimed at identifying and contacting at-risk customers to see if they need help remaining current with payments.
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