Homeowners with Citigroup are still struggling to pay their mortgage, in many cases, but there is still home loan modification assistance available for troubled homeowners. There have been many problems for homeowners over the past few months ranging from a devaluation in their home’s value to unemployment. There have been programs set in place by lenders and by the Obama administration that are hoped to combat these problems, so homeowners should be aware of what assistance is available.
There are home loan modifications, principal reductions, refinancing options, and unemployment forbearance options available for some homeowners who may be in need of particular mortgage assistance. While not all lenders are using these programs, or the programs from the Making Home Affordable Program, there should be assistance available through either the Obama administration or in-house programs from lenders that will help a homeowner in almost any situation.
Citigroup has stated that they will help homeowners who may not qualify for Making Home Affordable Programs by offering them Citigroup specific programs that are tailored to help struggling homeowners.
While there have been problems with the Home Loan Modification Program and lenders are being said to not be helping homeowners as much as they should, it’s still in a homeowner’s best interest to talk to their lender about the mortgage assistance options that may be available. No lender or program is providing perfect results, but homeowners should still take action when it comes to trying to prevent foreclosure.