Foreclosures are at an all time high across the country right now. Home loan modification is a great way for homeowners facing or in foreclosure to save their home. President Obamas mortgage stimulus plan is now giving cash incentives to mortgage lenders who approve at risk homeowners. So far, CitiBank and CitiMortgage, have been getting great reviews from homeowners using this plan:

CitiMortgage Home Loan Modification
The bank has started programs for homeowners who have a ARM (Adjustable rate mortgage) loan a chance to get a home loan modification. This program will lower your monthly payments. This will be done through reduced interest rates, extended home loan terms, or lowering the principal amount owed. Contact CitiMortgages loss mitigation department in order to apply for a home loan modification.

Here are a Few ways you can Apply for a Home Loan Modification from CitiMortgage:

-If you have fallen behind on payments by 60 days or more, the loss mitigation department of CitiBank will give you a few different options. Writing a letter of “Financial Hardship” detailing your financial problems, your outline to handle them, proof including bills, bank statements, tax returns, and convince them that a home loan modification is the best thing you can do to save you home.

-After finishing the paperwork, the mitigation department will send a representative to you. Make sure you are quick to respond to the representatives and all related banking officials. Sometimes, anxiety plays a rile in their judging of your seriousness in needing a home loan modification.

-M Petrone
www.RefinancingCondo.com

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