Homeowners with Citigroup are seeing increases in permanent and trial modifications from CitiMortgage, as more than half of the homeowners with Citigroup’s CitiMortgage have been given either a trail or permanent modification, when compared to the overall number of potentially qualifying homeowners with Citigroup.
There have been outcries from homeowners for lenders to make more permanent home loan modifications, but many of the lenders within the Making Home Affordable Program have been unable to deal with the amount of homeowners that need modifications. While there have been constant increases from the majority of lenders, in terms of trial and permanent modifications, overall the numbers in the home loan modification program haven’t met early expectations.
However, homeowners with Citigroup can rest in the fact that there is progress being made. Citigroup CEO Vikram Pandit has stated they are not only working with the Making Home Affordable Program, but they also have programs within Citigroup to help homeowners in need of mortgage assistance.
While there are mixed reviews over the home loan modification program, lenders like Citigroup that have made either a trial or permanent modification for over half of their potentially qualifying homeowners does give some light to those homeowners still seeking a modification.