Homeowners who have a mortgage with Citigroup have been among many in our nation, with a variety of lenders, who have been looking for some form of mortgage assistance plan through a home loan modification. Recently, a hearing took place concerning the Making Home Affordable Program and the participation of some of the nation’s top lenders in this program.
There has been concern that lenders are not doing all they can to help homeowners get the modification they need in order to avoid foreclosure and simply stay at home. However, lenders like Citigroup have stated that while there are problems in the modification program, there are more and more permanent home loan modifications being made each month to homeowners in need.
Also, there have been alternate assistance programs like principal reductions, short sale options, and deed in lieu of foreclosure plans which have helped homeowners who are either struggling to make their mortgage payment or have seen the value of their home decrease over the past months. Trouble from underwater mortgages to unemployment have been plaguing homeowners and lenders, but there seems to be more hope for assistance as the problems within the modification program are worked out.
While lenders like Citigroup have not been perfect in their implementation of mortgage assistance plans, there have been various programs available for homeowners of which they may not be aware. Citigroup has enacted certain assistance programs, like a moratorium on foreclosures for homeowners who are affected by the Gulf oil spill, there are also mortgage assistance programs that are apart from the Obama home loan modification program and offered directly from Citigroup.
Despite the fact that many homeowners have had a troubling road when it comes to getting some form of mortgage assistance and making their home loan payments more affordable, many are still advising homeowners to talk over options with their lender or consult the Making Home Affordable Website for more information about getting assistance for their mortgage troubles.