Ok people, time to stop bitching about Citi and its desire to conquer (destroy) the world with its uber-derivatives. Those people have souls. They just launched a pilot initiative that will allow people to remain in their foreclosed homes for six months in six states and they would like the Blankfeins and Dimons of the world to grow a pair and follow suit.
And, because they will go the extra mile, Citi will also provide relocation assistance at the end of the program and "relocation counseling" by "trained professionals."
"We hope others in our industry will join us in helping distressed borrowers across the country. By helping avoid the foreclosure process, which can be very stressful and distracting, and keeping people in their homes long enough to make an orderly transition to the next stage of their lives, we are also supporting neighborhood revitalization and stabilization efforts, which are crucial to the nation's economic recovery."