Will more banks freeze foreclosures?

More than 274,000 U.S. households received at least one foreclosure-related notice last month, according to RealtyTrac. But that number may dip if more banks follow the lead of JPMorgan Chase and Citigroup. Both have announced that they will expand their initiatives to put a stop to foreclosures--if only temporarily. 

JPMorgan Chase plans to cease foreclosures for owner-occupied home loans through March 6, basically extending a previous 90 day freeze. Citigroup will stop some foreclosures, mainly on first mortgages, until either March 12 or the day the Obama administration can finalize a mortgage plan. These are stopgap measures, but some foreclosure candidates will be breathing easier. 

For more:
- here's the AP article

Related Articles:
Mortgages news from FierceFinance