Marshall & Ilsley extends foreclosure moratorium

AP News
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Posted: Dec 22, 2009 11:31 AM

Banking company Marshall & Ilsley Corp. said Tuesday it was extending its moratorium on foreclosures by another 90 days.

The moratorium now ends March 31, 2010. The initial moratorium was announced Dec. 18, 2008.

The moratorium applies to owner-occupied residential loans for customers who work to reach a repayment agreement. Loans in all the bank's markets are eligible.

Marshall & Ilsley's homeowner assistance program features refinancing options, including term extensions and reduced rates that can be used to lower monthly payments.

Shares of Marshall & Ilsley rose 2 cents to $5.62 in late morning trading. They have ranged from $2.98 to $13.98 over the past year.