Homeowners everywhere are losing their home to foreclosure and mortgage default. Mortgage refinancing and modification though may prevent many people from losing their home. New Government programs designed to help struggling homeowners are now in effect. These programs make getting a mortgage refinance or modification easy, no matter the situation a homeowner is in. CitiMortgage has been approved to offer these new plan options to homeowners. Their Loss Mitigation Department knows exactly how to help homeowners, and this plan offers them more ways they can help a homeowner.

Home Loan Modification or Refinancing with CitiMortgage
Programs which were previously offered by the Citimortgage loss mitigation department have been enhanced through the Governments money. Now, CitiMortgage even receives a cash incentive to help homeowners, all provided by the Government. This money will allow them to help more homeowners, even struggling ones, with less financial risk to them.

Now homeowners will be able to get a mortgage payment which is lower than 31% of their monthly income, all through refinancing with CitiMortgage and Obamas stimulus plan. The thought is that no matter the housing market, if a homeowner can afford their home, they will keep it. Many homeowners are refinancing into fixed rate mortgages, and leaving their ARM loans behind. This offers stable monthly payments, and low interest rates.

To meet the requirements from the Governments plan, CitiMortgage can lower interest rates, or change the length of the home loan. Whatever it takes to lower payments to an affordable level is open for change.

How to Apply for Mortgage Refinance or Modification with CitiMortgages Loss Mitigation Department

Homeowners who are late on their payments ill most likely be contacted first with options that can help them. CitiMortgage is very good about being proactive and helping homeowners before their situation gets worse. However, if anything you can always contact the loss mitigation department. They will be the people you work with, and the only ones who can offer you the stimulus plan options.

Homeowners will need to have a letter of financial hardships which states their problems, and possible solutions. Include a new budget with your expenses and income, and have your expected mortgage payments in it. This will show CitiMortgage what your finances are, and what you can afford. Sometimes a CitiMortgage representative will actually come to your home. In this case be sure to have all information they may need, and try to be helpful.

Mortgage refinance and modification is truly much easier with these new programs from CitiMortgage and the Government. Use them to your advantage today.

-M Petrone
http://www.RefinancingCondo.com

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