Home Loan Modification – Citigroup to Stop Foreclosures Over Christmas
Posted on | December 20, 2009 | 3 Comments
The home loan modification process is something that is a designed to help homeowners stay in their home and avoid foreclosure. With foreclosure rates so high at the present time Citigroup has decided to suspend foreclosures for the rest of December and the beginning of January. You will not be getting a foreclosure notice over this holiday season so you can enjoy your Christmas.
Citigroup has seen great struggles over the last few year and they realize just how hard it is on common Americans. After going through one of the most difficult years in the history of personal finance many Americans will be willing to do almost anything to stay in their homes through the holiday season. Citigroup realized this and they are willing to grant you an extra month of staying in your home and trying to figure out a way to avoid foreclosure.
The home loan modification plan that was created by Pres. Obama is one of the ways in which you can stop foreclosure. By accessing the Making Home Affordable website you are likely to find a great amount of information on how you can modify your current mortgage to a lower monthly payment. If you are struggling greatly to make your monthly mortgage payment then you may benefit from the home loan modification process.
Citigroup is currently working very hard with their customers who have a mortgage through CitiMortgage. If you currently have a mortgage with Citigroup then would be a very good idea to contact them and see what you can do to modify your current mortgage. If you are paying over 31% of your household income on your mortgage payment then you can benefit from the Making Home Affordable home loan modification plan.
Make sure to do your research before jumping into this process. Please understand that you will need to submit a great amount of documentation and paperwork for this process to be completed. The number one reason that most home loans are not modified at the present time is the proper paperwork and documentation has not been submitted to mortgage lenders.
Author: Alan Lake
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3 Responses to “Home Loan Modification – Citigroup to Stop Foreclosures Over Christmas”
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December 20th, 2009 @ 11:55 pm
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December 21st, 2009 @ 12:59 pm
[...] Home Loan Modification – Citigroup to Stop Foreclosures Over Christmas [...]
December 22nd, 2009 @ 10:34 am
[...] in time for Christmas. An article in the Subprime Blogger reported that Citigroup is currently working very hard with their customers who have a mortgage [...]