Homeowners who are working with Citigroup may be able to take advantage of alternative home loan modification plans that are being offered by a variety of mortgage servicers. There have been homeowners who have attempted to gain a home loan modification through the Making Home Affordable Program but were met with difficulty and had their modification hopes denied.
Some homeowners who may have had a trial modification, permanent home loan modification, or who were simply applying for a trial modification have all seen cancellations in their foreclosure prevention assistance options for a variety of reasons. Yet, Citigroup has been offering alternative modification plans that may offer homeowners, who are unable to find home loan assistance through the Making Home Affordable plan, the opportunity to save their home from foreclosure.
While Citigroup has come under a great deal of criticism, as have many mortgage servicers in the Making Home Affordable Program, there are still options available for some homeowners who face the loss of their home. No mortgage servicer has been perfect in their implementation of mortgage assistance plans for every homeowner and there have been many individuals who are quite angry with modification initiatives and mortgage servicers as a whole.
Yet, it’s believed that these in-house alternative modification plans made directly from mortgage servicers have assisted more homeowners than the Home Affordable Modification Program, but there are arguments that homeowners will not get a home loan modification that is as affordable as they would have had an Obama HAMP modification been offered. However, homeowners who face foreclosure have been happy to find any type of mortgage aid they can get and for some, these alternative modification options have been the assistance they need to avoid the loss of their home.