Citi, also known as Citimortgage, Citibank or Citigroup, has a loan modification program for home owners who have a mortgage with Citi. The Citibank loan modification program is part of a group of homeowner assistance programs that Citi has initiated to help delinquent and potentially delinquent homeowners retain ownership of their homes. Also, homeowners who have a Citi Mortgage Adjustable Rate Mortgages (ARM’s) are also great candidates for a loan modification. Option Arm mortgage holders are also in a good position to get a loan modification with Citi Mortgage.
Before you call Citi Mortgage about a loan modification, you will want to know all that you can so you can get the payment you want and can afford. Get help with your Citi home mortgage.
Reasons To Call CitiMortgage About A Mortgage Loan Modification
If you are a Citi mortgage ARM customer or are struggling to make your mortgage payment or have fallen behind already then you may qualify for one of Citi’s many home ownership assistance programs. Citi does not want to foreclose on your home if you are able to show them some sort of financial hardship or your financial situation falls into several categories. Be prepared to write a letter explaining your financial hardship and reasons for why you should get your mortgage modified.
Citibank Homeowner Assistance Initiatives
Three major homeowner assistance plans put into place by Citi include a preemptive home loan program that helps Citi mortgage holders that are still current in their mortgage but have higher risk loans like adjustable rate mortgages. This program helps homeowners who are still in good standing with their mortgage get their mortgage payments lowered ahead of time.
The second program Citibank has to help homeowners stay in their homes is a foreclosure moratorium. This program is dedicated to those Citi mortgage customers who demonstrate to Citi that they are interested in keeping their home and are willing to work with Citi to find a workable solution to their mortgage problems.
Citi’s third homeowner assistance program is the Citibank Loan Modification program. See below for more details on this program.
Citibank Mortgage Loan Modification Program
Homeowners who are delinquent on their Citi mortgage can reach out to Citibank to initiate the possibility of getting their mortgage terms modified. The program looks at a homeowner’s income to determine a mortgage payment that is affordable for the homeowner. Citi loan modification specialists then reduce the payment using one or a combination of the following methods: a temporary or permanent interest rate reduction, an extension of the term of the mortgage, or a forgiveness of mortgage principal.
Get help with your Citi Mortgage.