Citigroup’s mortgage modification and foreclosure prevention efforts have been helping homeowners get more affordable home loan payments. Many homeowners have been struggling to make their monthly payments on their mortgage and as a result lenders have been asked to do more to help homeowners avoid foreclosure.
Citigroup has been working with homeowners and the Making Home Affordable Program in order so that they might provide mortgage modifications, and there have also been programs like principal reductions and refinancing options that are benefiting homeowners as well.
However, there have been problems between lenders and homeowners and accusations that homeowners are unhappy with lenders because they feel that mortgage lenders are not doing all they can to provide assistance for homeowners. There have even been statements from Treasury Department officials who feel some lenders need to turn in a better performance when helping homeowners.
Despite troubles, homeowners are still being advised to contact their lender and talk about available options that may help them during a time of financial trouble. Many people are still suffering because of unemployment, among other things, and there is still help that is needed.
While Citigroup has not been a perfect lender in the homeowner modification program, they offer a variety of foreclosure prevention plans that should be a good fit for any struggling homeowner. Again, talking with your mortgage lender is going to be the best option to begin your road to a more affordable home loan payment.