Citigroup is one of the top lenders in the Obama Making Home Affordable Program, as this lender has seen increases in the number of mortgage modifications made over the past few months. Citigroup has also launched other programs that are set to help homeowners either avoid foreclosure or make their home more affordable.
Some homeowners simply will not be able to meet the costs of paying their home loan even with mortgage aid or a modification, so Citigroup has implemented programs that allow homeowners to stay in their home for a set amount of time provided they turn over the deed to the property once that time has expired. In the past Citigroup has also launched programs where they allow homeowners to stay in their home for an extended period of time before foreclosure proceedings began.
However, currently, lenders are being asked to do more to help homeowners avoid foreclosure. Citigroup has not been perfect and many homeowners have complained of their experience and dealings with this lender, but this is something that is common among every lender in the modification program.
Homeowners with Citigroup are still being advised to contact their lender if they’re having trouble making their mortgage payment or foresee it becoming a problem in the future. No mortgage lender is perfect, but this is no reason for homeowners to avoid seeking assistance either from the Obama home loan modification program or from in-house assistance plans from their mortgage lender.