Citigroup homeowners may be able to benefit from a home loan modification from both lenders and the Obama Administration. Mortgage lenders have been working with the Obama Administration’s Making Home Affordable Program over the past few months in order to make home loan payments more affordable for homeowners.
Many homeowners are still struggling and need some form of mortgage assistance to combat the various problems that homeowners are having when it comes to repaying their home loan. Unemployment is one of the big factors that has kept many homeowners from being able to make their monthly mortgage payment and it’s for this reason that mortgage modifications are being offered.
Citigroup, along with other mortgage lenders have been criticized for not producing as many modifications as the Obama Administration and homeowners would like to see. Despite increases in the monthly numbers for permanent modifications made, lenders are still being asked to do more to help homeowners avoid foreclosure.
There are both in-house programs and plans from the Obama Administration’s home loan modification program that lenders are using in order to help homeowners who may be struggling. Homeowners are still being advised to talk with their lender or consult the Making Home Affordable Program’s website in order to get information about mortgage assistance plans and see if they qualify.
Citigroup has seen an increase in the number of permanent home loan modifications they have made over the past few months so homeowners should not be dissuaded from talking with their lender or seeking mortgage help because other homeowners may have struggled. It may not be an easy road to mortgage assistance but any trouble a homeowner experiences will be well worth it if they can avoid foreclosure and save their home.