Homeowners are being foreclosed on all across the country. Home loan modification is a great way to avoid this. There are a few mortgage lenders which are being given cash incentives from the Government to provide home loan modification through the mortgage stimulus plan of 2009. CitiMortgage has been getting good reviews for their loan modification program.

Home Loan Modification with CitiMortgage

This program has been enhanced by the Governments cash to allow homeowners a chance to save their home. Homeowners with a Citibank ARM (Adjusted Rate Mortgage) loan stand a good chance for getting approved for a home loan modification. This program from CitiMortgage will reduce your monthly home loan payments. It may also give your some temporary, or even permanent, reduced mortgage interest rates. This program can also lengthen your home loan, or may assist you with your principal amount remaining on the mortgage. You must call the Loss Mitigation Department of CitiMortgage to apply for this home loan modification program.

How to Apply for the a CitiMortgage Home Loan Modification:

-If you happen to fall 60 days late on your mortgage, typically, the CitiMortgage loss mitigation department will contact you, and most likely have some options which could help your financial position. You will be required to write a letter of financial hardship. This is why your finances turned for the worse, and what you are going to do to solve it. Include all documents which support this such as bills, bank statements, lay off notices, and other relevant information. This may be what gets you approved, so take your time and include all details when writing this letter.

-Generally, the CitiMortgage loss mitigation department will send their representative to your home after you are all done with the paperwork. Make sure you are quick to answer and respond to these representatives and any bank officials. This will help convince them you are serious about this, and dedicated to getting your finances in order.

-M Petrone

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