Homeowners that have their home loan with Citigroup may want to talk over various mortgage modification options with their lender if they happen to be struggling to make the mortgage payment. Many people are having trouble when it comes to paying their mortgage as factors like unemployment and the decreasing value of homes have been causing many people financial trouble.
It’s for this reason that Citigroup has been working with the Obama Making Home Affordable Program in order to provide various forms of assistance to struggling homeowners. Many programs have been made available for homeowners that are in various financial troubles, when it comes to their mortgage, so homeowners are being advised to contact their lender for assistance options.
Keep in mind that there have been trouble with homeowners seeking out mortgage assistance and even a lender like Citigroup, who has either made a temporary or permanent home loan modification for over half of their homeowners in the Making Home Affordable Program, hasn’t been able to escape criticism.
However, despite some mortgage lenders not using all of the Making Home Affordable programs or all available mortgage assistance options, as principal reductions have been something lenders don’t agree on, there are still programs, both governmental and in-house that lenders can provide.
Any struggling homeowner is being advised to contact their lender for available mortgage assistance options. Again, there have been troubles when it comes to some forms of mortgage assistance but traveling a tough road is a much better option than losing your home.