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Citigroup to lower mortgage payments for some jobless homeowners

Published 03/03/2009

The struggling bank makes the move as President Barack Obama looks to lenders to adjust the way loans are handled. Citigroup's new mortgage efforts also come on the heels of the latest attempt to bail out the company, which includes the U.S. government's exchange of up to $25 billion in emergency bailout money given to Citigroup for as much as a 36 percent equity stake in the company.

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