Citigroup is one of the top lenders who has been working in the Making Home Affordable Program in order to provide mortgage assistance for struggling homeowners. However, there have been many people who are displeased with the results of the Citigroup home loan modification program and other lenders who are working with homeowners.
A hearing was recently conducted to sort out any troubles from lenders in order to make sure that the Making Home Affordable Program was providing the assistance that homeowners needed and that every eligible homeowner was given a permanent home loan modification. While Citigroup has been seeing increases in the number of permanent modifications made from month to month, they have not escaped criticism from homeowners.
Yet, there has been resolve on the part of many lenders to restructure their home loan modification departments so that more homeowners can get the assistance they need in a timely manner and homeowners who may not qualify for a home loan modification through the Making Home Affordable Program would be able to use certain in-house programs from individual lenders.
While Citigroup and other lenders have not been perfect in their implementation of the mortgage assistance plans, there are more and more options being created to help homeowners who need some form of mortgage aid but may be unable to obtain a modification from the Obama plan. Citigroup has used a variety of means to help homeowners ranging from in-house assistance plans to foreclosure moratoriums to help homeowners that are struggling.
There have been many cases where getting a home loan modification has been quite difficult for individual homeowners, but it is still advised that homeowners who are struggling to make their mortgage payment should contact their lender to talk over mortgage assistance options or consult the Making Home Affordable Program’s website for more information.