Citi Mortgage Loan Modification

CitiMortgage is a member of Citigroup, one of the largest financial service providers in the world. The company specializes in mortgage products such as home loans and refinancing, both in the regular and sub-prime markets. In recent years, it has also entered the mortgage assistance business, helping borrowers keep their homes despite financial difficulties.

CitiMortgage loan modification has saved over $35 billion worth of homes and over 370,000 families from foreclosure. The Citi Homeowner Assistance program allows them to hold off foreclosure while their loans are worked out to more comfortable terms. Mortgage modification options include extension of term (usually 30-year fixed), interest rate reduction, or forgiveness of principal owed.

Loan modification with CitiMortgage applies both to direct borrowers and borrowers from other Citi-owned companies. To qualify, one must have a valid hardship such as job loss, medical emergency, or a death in the family. A loan modification attorney may also be needed to get better response anpd use legal violations as leverage for negotiations.

The program also helps protect the borrowers’ credit if they don’t qualify for a CitiMortgage loan modification. Alternative options include short sales, deed-in-lieu, and legal foreclosure assistance. Borrowers are kept updated through the entire Citibank loan modification process, so they know where they stand and can take any steps needed to speed up the application.