Homeowners with Citigroup have been seeking a home loan modification assistance due to many being unable to meet their mortgage payments requirement. A variety of factors have caused many homeowners to struggle with their mortgage and as a result the Obama Administration has performed various plans that are set to help homeowners.
While not all lenders are using every plan within the Making Home Affordable Program, lenders are being urged to do more to help homeowners. Citigroup has seen an increase in the number of permanent home loan modifications they have made through the Making Home Affordable Program, from month to month.
However, some homeowners have been struggling with the modification program and have been unable to obtain some form of assistance from HAMP. This obviously has caused great distress among homeowners, but lenders are offering in-house programs that are able to help homeowners that may be in need of mortgage aid. Similar programs to the Making Home Affordable plans, like principal reductions, loan modifications, and even forms of mortgage forbearance for unemployed homeowners, have been available.
Some homeowners have been refinancing their home loan in order to get a lower mortgage rate and a lower monthly mortgage payment as well. Most homeowners simply need a way that they can make their mortgage payments more affordable and for this many lenders have plans which can be implemented.
While there have been problems among lenders and homeowners, it is still being advised that any homeowner who is having trouble making their mortgage payment should contact their lender about the variety of programs from not only the Making Home Affordable program, but also, from the lenders themselves.
No lender has been perfect in helping homeowners get the assistance they need but there are options available for homeowners that may be worried they are on the verge of foreclosure, so talking over assistance plans with your lender is the first place to start.