Webster Institutes Foreclosure Moratorium

Posted by Orb Staff on November 14, 2008 No Comments
Categories : Mortgage Servicing

Webster Bank NA, a subsidiary of Webster Financial Corp., has introduced a 90-day moratorium on home foreclosures for Webster-owned mortgages.

Under the program, Webster will temporarily suspend foreclosure activity for at least 90 days for all qualified homeowners who were more than 30 days delinquent on their Webster residential mortgages as of Nov. 4 and work with those customers to structure more affordable payment plans so they can stay in their homes. The program applies to all eligible mortgages owned by Webster.

In addition to the temporary foreclosure moratorium, Webster says it will expand its mortgage assistance program by identifying and contacting at-risk customers to see if they need help to remain current on their mortgages.

Source: Webster Bank NA

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