BofA, Chase, Citigroup To Halt Foreclosures Temporarily

J.P. Morgan Chase said it would not begin the foreclosure process on any owner-occupied properties until March 6.

Bank of America also used March 6 as a date, but said it would consider extending its moratorium if the loan modification plan is not complete by then.

Citigroup said its moratorium would last until March 12 or until finalization of the details of the administration's loan modification program, whichever is earlier.

You'll recall that government-controlled Fannie Mae and Freddie Mac suspended foreclosure sales during the winter holidays and have halted evictions until next month. Earlier this week, John Reich, director of the Office of Thrift Supervision, called on the more than 800 thrift institutions across the country to do the same.