Buying A Car Online
Business & Finance Loans

Citimortgage Mortgage Loan Modification - How To Get Approved

Citimortgage Loan Modification

Citibank or Citigroup has a Citimortgage Loan Modification program for those homeowners who have a mortgage with Citi. If you are residing within the United States and you are 1 of those worried homeowners, whose home is at the stake of foreclosure, you need to apply for Citimortgage mortgage modification, before it is too late. After the collapse of the global economy, many people around the world are facing financial setback. As a result of this, 1 primary issue that has come to surface is that of homeowners being unable to pay off their monthly mortgage payments. This has further resulted in many cases of foreclosures. Loan modification programs offer a great alternative to foreclosure and refinancing.

Involved in President Barrack Obama's stimulus package, Citibank has helped the homeowners around the nation to prevent foreclosure and to save their homes.

What Does The Citimortgage Mortgage Modification Program Do?

The Citimortgage Mortgage loan Modification Program helps the homeowners to save their home by preventing the foreclosure. This happens when the homeowners apply for the mortgage loan modification. Mortgage loan Modification means that the mortgage loan terms are modified to be suitable and affordable for the homeowners. According to this program, the income of the homeowner is taken into consideration to figure out a monthly mortgage payment that might be inexpensive for them.

Citi Mortgage loan Modification specialists then perform one or much more than one of the following tasks to make the modified terms workable:

They decrease the interest rates; permanently or temporarily.

They extend the terms of the mortgage

They might even forgive mortgage principal

Who Qualifies for Citimortgage Mortgage Modification

Following are a few of the eligibility guidelines that you have to fulfill, if you wish to qualify for the mortgage modification:

The home that you are applying mortgage loan modification for ought to be your primary residence.

Your outstanding home mortgage ought to reach up to $729, 750

Your present monthly mortgage payments ought to be more than 31% of your monthly gross income.

You must meet certain requirements and have the ability to demonstrate your hardship status.

To see in the event you qualify for a Citbank or Citimortgage loan modification, just visit the links below and see if you qualify online.

Leave a reply