ING Direct freezes foreclosures

November 24, 2008

Pacific Business News (Honolulu)

In the “spirit of the holidays,” ING Direct said on Monday it will freeze foreclosures through the end of March 2009 and suspend evictions from occupied single-family homes until Jan. 15.

“ING Direct keeps the mortgages we originate; we do not sell them to Wall Street,” said Arkadi Kuhlmann, CEO of ING Direct. The bank does not do 30-year-fixed-rate mortgages but hybrid adjustable-rate mortgages. Read More >>>

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