Foreclosure Prevention Assistance Program with Citibank

By
Real Estate Broker/Owner with Action Investments and Hawaii Pacific Realty BRE Lic# 01481898

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, Real Estate Broker, CA Dept of Real Estate Lic. #01481898
(818) 357-9658 Cell
(866) 791-3290 Fax
jhector@socal.rr.com
www.jasonhector.com
Broker--Action Investments
11630 Seminole Circle
Northridge, CA 91326
(800)-626-6469 Phone
(866)-791-3290 Fax

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Rainmaker
349,046
Keisha Hosea- KASIHomes.com
KASI Homes - Chino Hills, CA
Real Estate Solutions For Real People

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

Nov 15, 2008 02:16 PM #1
Rainmaker
49,431
Michelle Roethle
Windermere Peninsula Properties - Belfair, WA
Your NorthWest "Real Estate Solution"

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

Nov 15, 2008 02:27 PM #2
Rainmaker
202,138
Thomas Santore Lic Associate Real Estate Broker
Coldwell Banker Realty/Coldwell Banker Commercial NRT - Yorktown Heights, NY
Realtor®-ABR-Land, Residential & Commercial Sa

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 15, 2008 02:28 PM #3
Rainer
20,742
Jason Ian Hector
Action Investments and Hawaii Pacific Realty - Porter Ranch, CA
Real Estate Broker in California and Hawaii

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 16, 2008 02:01 PM #4
Rainer
14,391
Wioleta Kapusta
Realty ONE Group - Goodyear, AZ
MBA, ePro

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.

Nov 17, 2008 07:31 AM #5
Rainer
20,742
Jason Ian Hector
Action Investments and Hawaii Pacific Realty - Porter Ranch, CA
Real Estate Broker in California and Hawaii

Wioleta,

I could not find your blog.  Where is it?

Nov 17, 2008 09:46 AM #6
Rainer
20,742
Jason Ian Hector
Action Investments and Hawaii Pacific Realty - Porter Ranch, CA
Real Estate Broker in California and Hawaii

Wioleta,

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

Nov 17, 2008 09:48 AM #7
Rainer
14,391
Wioleta Kapusta
Realty ONE Group - Goodyear, AZ
MBA, ePro

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

Nov 17, 2008 11:56 AM #8
Anonymous
Foreclosure Prevention and Assistance

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

Foreclosure Prevention and Assistance

Dec 08, 2010 04:14 PM #9
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Rainer
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Jason Ian Hector

Real Estate Broker in California and Hawaii
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