Citigroup Home Loan Modifications–Problems Homeowners Face And Help For Those Seeking Foreclosure Prevention

Problems that Citigroup homeowners may have had within the home loan modification program may vary in the issues which homeowners have faced when attempting to either receive a trial modification or a permanent home loan modification, but these difficulties that have been seen, preventing some from receiving foreclosure prevention, are problems which many homeowners with various servicers have dealt with across the nation. However, those homeowners with Citigroup do also have solutions which may help them avoid difficulties when seeking foreclosure prevention and affordability on their mortgage payment.

While servicers like Citigroup do offer alternative homeowner assistance plans for those who may not qualify for a federal Making Home Affordable Program, there are still issues being faced by homeowners concerning foreclosure. There are those who have been unable to acquire a home loan modification from the federal assistance program, and as a result have fallen into foreclosure. Yet, these alternative modification plans directly from servicers like Citigroup may provide an alternate route and solution to troubles which homeowners are facing when they are unsuccessful at a federal modification program.

Yet, homeowners who want to take preventive measures against these difficulties may have options through housing counselors, which have been reported to increase a homeowner’s likelihood of finding a solution to their monthly mortgage payment difficulties. Obviously, there are warnings about housing counselor scams which homeowners may fall into, but with proper research or seeking out a counselor from the Making Home Affordable Program or one approved by the Department of Housing and Urban Development, homeowners may be able to find not only a reputable counselor but one who can guide them through the modification program.

Once finding a reputable housing counselor, homeowners with Citigroup and other servicers have been said to have not only found a more affordable mortgage payment but they have also lowered the rate at which they have redefaulted within the modification program. Some say that this may be due to the fact that housing counselors can not only guide homeowners through the modification process but can also help them budget and meet financial goals in such a way that allows them to better afford their home loan payment even when financial hardships are present.

Homeowners with Citigroup can talk directly with their servicer about concerns related to their ability to make a home loan payment, but again, approved housing counselors may also help homeowners in ways beyond simply going through the modification program, but they are beneficial in this area as well. Again, homeowners who may feel housing counseling is in their best interest are still advised to research counselors and make sure they find an organization that is reputable, certified, and can help them not only with a home loan modification but they also allow them to get a better hold on their financial situation.