The home loan modification programs for Citigroup homeowners are still available in a variety of plans. Many homeowners are still struggling to meet their mortgage payment from the month and need some form of assistance that would either lower the amount they are paying each month or simply make their home more affordable in some other way.
For instance, homeowners who have seen a loss in the value of their home have been seeking principal reductions in order to make their home more affordable over the long run. Homeowners who view their house as an investment have been arguing that they were sold a home with an inflated price and they believe that the principle should be reduced to an amount that is more true to the home’s actual value.
However, homeowners that simply want to keep a roof over their head have been asking for traditional modifications or interest rate reductions in their home. Citigroup has been using a variety of plans, along with other lenders, that have been suggested by the Making Home Affordable Program and lenders like Citigroup also have used in-house programs to provide a mortgage assistance as well.
While there have been troubles between homeowners and lenders, and many homeowners are accusing lenders of not doing all they can to prevent foreclosures, it is still advisable that a homeowner should contact their lender if they are in need of mortgage assistance. Lenders can help homeowners weigh their options or find a mortgage assistance program that is going to be best for them. Also, resources like the Making Home Affordable website can provide information and tools that can help homeowners formulate a specific plan to help them avoid foreclosure.