Homeowners with Citigroup may have various options for lower monthly payments through assistance plans and refinancing opportunities. Obviously, Citigroup has been one of the top servicers in the Making Home Affordable modification program, but some homeowners have been unaided by these modification initiatives and have sought out alternative assistance plans.
Yet, there are also homeowners who have been in a financial position which has allowed them to refinance their mortgage with Citigroup or another lender, lock in a lower home loan interest rate, and receive a lower monthly mortgage payment as a result. However, this option may not be available for numerous homeowners as financial difficulties have caused many to see trouble in various areas of their life.
Citigroup homeowners who have sought out modifications do have options from the governmental modification initiative or in-house alternative plans made directly from their servicer. While there have been complaints from numerous homeowners and servicers have been imperfect in their implementation of these mortgage assistance plans through modifications, homeowners are still being made aware that these opportunities could be of help.
A home loan modification directly from a servicer or the governmental modification program is no guarantee when it comes to saving a homeowner from foreclosure, but homeowners are being advised to consult their servicer if mortgage payments become a problem due to financial strains in their life.
Again, homeowners who have been able to lock in a lower interest rate on their home have seen reductions in their monthly mortgage obligation, but this has not been something that every homeowner has been able to use to their benefit. While homeowners who may have a good credit score, equity in their home, and the funding they need to pay for the costs associated with refinancing may be able to lower their mortgage payment, Citigroup homeowners who are suffering from cutbacks in their wages or unemployment may have to turn to modifications or alternative assistance plans to help them avoid foreclosure.