CitiGroup’s foreclosure prevention program, Citi Homeowners Assistance Program has, as of third-quarter reports, helped 130,000 homeowners who were in trouble with their mortgage and has helped over 40% of those homeowners who qualified for the Making Home Affordable Program.
One of the more recent stories about CitiGroup came around the holidays where CitiMortgage suspended foreclosures for one month to allow homeowners to keep their homes and abstain from the stresses of foreclosure over the Christmas season.
Most major mortgage lenders have been scrutinized over the past month, if not longer, in terms of their home loan modification program process, and CitiGroup’s Citi Homeowners Assistance Program, along with their participation in the Making Home Affordable Program has earned the company plenty of praise from those who have been looking for mortgage assistance in these tough financial times.
CitiGroup hasn’t been perfect, though, and with any program of the magnitude of the home loan modification program there have been homeowners who are upset with CitiGroup over their home loan modification process.
However, defenders of CitiGroup’s home loan modification program site the numbers for their defense, with CitiGroup being one of the leading lenders to assist homeowners in their mortgage troubles.
With 2010 only hours away, we can only wait and see what CitiGroup and other lenders do in their home loan modification programs in the coming year.
