Under the program, which begins Friday, Citi will halt all foreclosure sales on first mortgage accounts and stop evicting homeowners nationwide through Jan. 17. The bank also will cease evictions.

The company foresees that 2,000 homeowners with scheduled foreclosure sales and another 2,000 that were due to receive foreclosure notices will benefit from the suspension.

Citigroup's program affects only those loans owned by the bank, about 20% of the company's $746 billion mortgage servicing and lending portfolio, Citigroup said.