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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
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