Will Expanded Home Loan Modification Programs Help Citigroup Homeowners?

The Obama Administration has added new programs, or expansions, to the home loan modification program which are set to provide more assistance and options to homeowners with an underwater mortgage or who are struggling in their mortgage payment due to unemployment and underemployment.

Citigroup is one of the lenders that may be taking part in this new initiative from the Obama Administration, which is hoped to not only help homeowners but also the struggling housing market as well.

Also, Citigroup has had success in the home loan modification program as they have seen increases in their modification numbers each month with the Making Home Affordable program, so it is hoped they will continue that success with underwater mortgages and unemployed homeowners.

While Citigroup hasn’t been perfect in the modification program, no lender has, they have been looking to help homeowners and it is hoped that these new programs suggested by the Obama Administration will provide lenders with new ways to assist homeowners and homeowners with the aid they need.