Homeowners with a Citigroup home loan have been seeking mortgage assistance through foreclosure prevention plans and other mortgage programs from the Making Home Affordable Program. Citigroup, among other lenders in the nation, have been seeking ways which they can keep homeowners in their home by implementing plans where a home loan can be more affordable or in cases where homeowners simply cannot afford their home even with mortgage assistance, many mortgage lenders have been offering alternatives to foreclosure.
A report on Citigroup’s foreclosure prevention efforts states that Citigroup has been using a variety of methods from their loss mitigation department to help homeowners who are struggling in their mortgage. Citigroup states that they are offering alternate payment arrangements for homeowners who are struggling so that they can stay in their home, they also say that they reached out to borrowers and offer assistance from their loss mitigation staff.
Citigroup has also said that they are willing to work with homeowners through the second lien modification program in the coming months, and also, through deed in lieu of foreclosure programs which may help homeowners who are facing the loss of their home but wish to avoid foreclosure since they have done all they can to meet their mortgage payments.
While modifications and other mortgage assistance plans are available from Citigroup, working in tandem with the Making Home Affordable Program, there are various ways in which a homeowner may be able to obtain help to make their home more affordable or at least make the transition from their home to a new living arrangement a little easier if they have found that mortgage assistance is of no help for their situation.
Homeowners are often advised to talk with their lenders early if they see that mortgage troubles are near or if a financial loss has occurred in their lives, it’s better to make their mortgage lender aware of this and ask about preventive measures that may help homeowners afford the cost of their mortgage payment before their troubles get out of hand.
There is no perfect lender in the Making Home Affordable Program but Citigroup and other lenders has been seeing an increase in the number of permanent modifications made each month and various programs that are set in place currently and will be available in the near future should be able to help the majority of homeowners who are struggling with their mortgage payment.