Home loan modification programs implemented to assist homeowners who are having difficulty making their mortgage payments are available through servicers like Citigroup to assist homeowners who may be delinquent on their home loan. Obviously, various factors in the lives of homeowners have necessitated that assistance plans be offered so that these individuals can avoid foreclosure, and servicers like Citigroup, among others, are still offering modifications and extension programs as a way to help those in need.
While there have been difficulties between servicers and homeowners, assistance plans have been beneficial for certain individuals. Homeowners, who have had a difficult time in the home loan modification process, have often pointed out that servicers seem either disorganized or simply unwilling to help homeowners find the affordable payment options they seek.
There are some troubling stories from homeowners who have been denied mortgage assistance through the Making Home Affordable modification program, but alternative modifications and extension programs are available from services like Citigroup to help homeowners in need. Yet, despite these ongoing programs, homeowner delinquency still remains a problem for many across the nation.
The Making Home Affordable servicer report for September indicated that Citigroup, as an example, had 110,480 homeowners who were delinquent on their home loan payments for 60 days or more. Obviously, this points to a problem that homeowners are facing, and that factors like unemployment are still preventing many from the financial income they need to meet their mortgage payments, but assistance plans are still being offered to help homeowners avoid foreclosure.
Understandably, servicers have not been perfect in their implementation of these programs, but financial advisers and housing counselors are still prompting homeowners to contact their servicer if they foresee trouble on the horizon. Not all homeowners may qualify for a modification assistance program from Citigroup or another mortgage servicer, but those who are having trouble meeting their monthly mortgage payment obligation may have more opportunities if they deal with their mortgage difficulties sooner instead of waiting for their delinquency to become too severe.