JPMorgan Chase & Co. and Citigroup Inc. agreed Friday to halt foreclosures until mid-March, after House Financial Services Committee Chairman Barney Frank called for a moratorium until the Obama administration details its plan to reduce foreclosures.

JPMorgan Chase also said it is installing "homeownership centers" in 24 locations around the country, so struggling borrowers can meet face to face with counselors and try to rework their mortgages.

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