Citigroup mortgage assistance through the Home Affordable Modification Program, extension plans, and even in-house mortgage assistance programs are still in place to assist struggling homeowners despite the fact that many mortgage servicers have been accused of heavily processing foreclosures on various homes. While Citigroup was one of the top financial institutions who did not issue a suspension on mortgage foreclosures, homeowners are still struggling across the board when it comes to meeting their monthly mortgage payments.
No mortgage servicer has homeowners who have been unaffected by the recession or who have not had difficulty making mortgage payments in certain conditions. Yet, Citigroup’s work within the Home Affordable Modification Program has provided numerous homeowners modification plan opportunities which has lowered their monthly payment obligation on their home and afforded them the foreclosure prevention assistance they needed.
However, some individuals have still had a troubling time when it comes to meeting their required monthly mortgage payment, despite having assistance plans in place. In these cases, homeowners are said to have benefited from in-house modification plans offered directly from servicers like Citigroup. These alternative modification plans can be helpful for homeowners who are denied assistance through the Obama modification program, but they too are no guarantee to foreclosure prevention.
Yet, extension programs like the Second of Lien Modification Program, forbearance programs for unemployed homeowners, and underwater mortgage assistance plans have been set in place to make home loan payments more affordable in extreme cases where traditional modifications are unhelpful.
Citigroup has not been without their share of criticism when it comes to homeowners being dissatisfied with their experience in the modification program. While there are still troubles that remain, homeowners are being advised to contact their servicer if they foresee mortgage payment troubles in the near future or are currently having difficulties when it comes to their mortgage payment.
While homeowners may still see foreclosure in some areas, it’s hoped that with these in-house and governmental modification plans in place, not to mention extension programs which can supplement these assistance plans, more homeowners will get the foreclosure prevention assistance that is greatly needed at the present time.