M&I Announces Extension of Foreclosure Moratorium
June 26 2009 - 10:10AM
PR Newswire (US)
MILWAUKEE, June 26 /PRNewswire-FirstCall/ -- Marshall & Ilsley
Corporation (NYSE:MI) (M&I) today announced it has extended its
foreclosure moratorium an additional 90 days - through September
30, 2009. The initial moratorium was announced on December 18,
2008, as part of M&I's Homeowner Assistance Program. The
moratorium is on all owner-occupied residential loans for customers
who agree to work in good faith to reach a successful repayment
agreement. The moratorium applies to applicable loans in all
M&I markets. The Homeowner Assistance Program also features
streamlined assistance programs for potentially distressed
homeowners who are identified in advance and proactively offered
assistance. It also offers a foreclosure abatement program that
features several refinancing options, including term extensions and
reduced rates that can be used, as necessary and applicable, to
reduce monthly payments. Marshall & Ilsley Corporation
(NYSE:MI) is a diversified financial services corporation
headquartered in Milwaukee, Wis., with $61.8 billion in assets.
Founded in 1847, M&I Marshall & Ilsley Bank is the largest
Wisconsin-based bank, with 193 offices throughout the state. In
addition, M&I has 53 locations throughout Arizona; 32 offices
in Indianapolis and nearby communities; 36 offices along Florida's
west coast and in central Florida; 16 offices in Kansas City and
nearby communities; 26 offices in metropolitan Minneapolis/St.
Paul, and one in Duluth, Minn.; and one office in Las Vegas, Nev.
M&I's Southwest Bank subsidiary has 17 offices in the greater
St. Louis area. M&I also provides trust and investment
management, equipment leasing, mortgage banking, asset-based
lending, financial planning, investments, and insurance services
from offices throughout the country and on the Internet
(http://www.mibank.com/ or http://www.micorp.com/). M&I's
customer-based approach, internal growth, and strategic
acquisitions have made M&I a nationally recognized leader in
the financial services industry. DATASOURCE: Marshall & Ilsley
Corporation CONTACT: Richard Becker, senior vice president of
Marshall & Ilsley Corporation, +1-414-765-8111 Web Site:
http://www.micorp.com/
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