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Foreclosure Prevention Assistance Program with Citibank

CAR’s mortgage update shows that “Citigroup is expanding its foreclosure prevention efforts by establishing a new program, Citibank Homeowner Assistance Program, which only is available to homeowners who are current on their mortgage payments, but at risk of defaulting. Citibank Homeownership Assistance Program will reduce monthly payments, including property taxes and insurance, to 40 percent or less of the borrower’s income. The mortgage modification program will freeze or reduce interest rates, extend the terms of the loan, and possibly reduce the loan principal.”

s new program is a great way for people to stay in their homes and get a mortgage they can actually afford. Good luck with this program and anyone with experience, please leave your story or feedback. Thanks, Jason

Posted by Jason Hector on 11/15/2008 10:11 PM

Comments (8)

citi citibank foreclosure prevention homeowner homeownership assistance program avoid foreclosure

Post is included in group: California Loan Modifications, Short Sales, & REOs
Post is included in group: California Realtors
Post is included in group: California Short Sales, REO's, and Foreclosures
Post is included in group: Coldwell Banker Platform for Sharing Information
Post is included in group: Foreclosure Help and Prevention

8 Comments on Foreclosure Prevention Assistance Program with Citibank

NOV

2008

Great info, Jason. Home owners and the econom need as much help as possible right now.

Thanks for sharing. It is nice to hear that all banks are starting to get on board.

It may be to little to late!! It has been almost if not already a month since the bailout what is taking so long.

NOV

2008

Thomas, Try to be patient. Real estate cycles run for a long time. It will be several years before you will see any pickup in the markets. Our path might be flat to down for quite a while. The bailout is just an encouragement. Markets will have to do their job to turn over the bad loans. It took Japan over 10 years to come out of their financial crisis. Jason

NOV

2008

Jason, thank you for sharing this information. Where can I find more info on the Citibank Homeowner Program? Thank You. I recently posted a blog with websites to some useful information on Foreclosure Prevention in Arizona and a couple national websites. Please feel free to check it out.

Wioleta,

I could not find your blog. Where is it?

Wioleta,

You will find the info at www.mortgagehelp.citi.com or just google Citibank Homeowner Assistance Program. Thanks, Jason

Jason, thank you for the info about Citibank Program. My post is in Home Selling Channel under Help in Need to Avoid Foreclosure. The alternative way to get to my blog is by clicking on my name in my comment to you and go to my profile where you can find all my postings. I hope it helps. Regards, Wioleta

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