The April report for the home loan modification program has been released and Citigroup’s CitiMortgage has made some gains in their home loan modifications. The data in the report is through the month of April and reflects the work of lenders in the Making Home Affordable Program through that month.
Citigroup has, as of April, made 28,556 permanent home loan modifications for struggling homeowners. This number is up from 22,455, which was reported in the March HAMP data. This is a big jump for Citigroup as they have continued to see increases from month to month in the number of permanent home loan modifications they have made with the Making Home Affordable Program.
Also, Citigroup’s CitiMortgage has 54,947 active trial modifications out of a possible 152,357 homeowners that were potentially eligible for a modification. Many homeowners have had to fight hard just to get a trial modification, but many lenders are now dwindling down the number of homeowners that may qualify for a modification by providing assistance to meet their mortgage needs.
Homeowners have been critical of lenders and have accused them of not doing all they can to help those who are in trouble with their mortgage. This sentiment has been echoed by the Treasury Department as there are reportedly review processes that are supposed to begin to make sure lenders are in fact doing all they can to prevent foreclosures.
Despite troubles, lenders like Citigroup have been seeing increases in their numbers and have been using in-house programs to help homeowners as well. It’s for this reason that many homeowners are being advised to contact their mortgage lender in order to seek out mortgage assistance options that may be available.