Homeowners with Citigroup have found ways of making their home loan payment more affordable through various refinancing options and home loan modification programs. While homeowners are typically in different situations when using these types of methods for lowering their monthly home loan payment, mortgage servicers like Citigroup have been able to assist homeowners over the past months gain a more affordable home loan payment.
Citigroup has been one of the top mortgage servicers in the Making Home Affordable Program and have not only been able to offer modifications but extension programs and in-house mortgage assistance options as well. While there have been difficulties between many homeowners and mortgage servicers, home loan modifications have been on the rise and due to many homeowners struggling through the modification process, alternative assistance plans have been made available.
Problems like unemployment and underwater mortgages have also made it difficult for homeowners to avoid foreclosure so Citigroup and other mortgage servicers who are working with homeowners in the Making Home Affordable Program have been able to use unemployment mortgage assistance plans, underwater mortgage programs and a variety of in-house home loan payment alternative plans for homeowners who simply cannot meet their monthly mortgage payment.
Also, mortgage interest rates have been low across the nation and many homeowners have been able to take advantage by refinancing to a lower interest rate and monthly mortgage payment. Homeowners are often advised to check with various lenders when refinancing as one may offer a better interest rate than another, so homeowners obviously will need to make sure they get the best rate when refinancing.
Yet, homeowners who are looking for a modification on their home loan are contacting their primary lenders to begin the process and consulting sources like the Making Home Affordable Program website and Hotline for more information and assistance if trouble arises. While not every homeowner will qualify for some form of mortgage assistance, there are now more options being made available to those who fear that they may lose their home and are asking for assistance so that they may avoid foreclosure.