Homeowners really need to know and understand the Citimortgage loan modification guidelines so that they will have a better chance of qualifying.  The loan workout approval is designed to help borrowers avoid foreclosure, but not everyone will be approved.  It is up to the homeowner to submit accurate and acceptable financial information so that the bank will determine that they qualify for a loan mod.

Citimortgage Loan Modification Guidelines

1. Using the government program called HAMP,  Citi offers this beneficial loan workout to homeowners who can pass the basic eligibility criteria, and this means that you live in the home as your primary residence and
2. Your loan was taken out before January 2009, and the current balance is less than $729,750.00 and
3. You are facing a financial hardship situation such as loss or reduction in income, increased expenses, divorce, military deployment, etc.
4. Your loan can be modified using the Waterfall Method of modification to reach a new target payment that equals 31% of your gross household monthly income

The tricky part of being sure you fit into the Citimortgage loan modification guidelines is understanding how the standard formula works so that you will be able to complete your financial statement correctly.  Your monthly income, monthly expenses and bank balances must be disclosed so that the information can be run through the Waterfall Method.  How do you know if you have enough monthly income, or if your expenses are too high?  This is critical to know ahead of time or you could be taking a big chance with the loan modification approval.

The Citimortgage loan modification guidelines are the same for everyone who applies for HAMP, and so it makes sense to learn the standard formula and use it when you prepare your own application.  This will give you the chance to make any necessary adjustments to your income or expenses before the bank has a chance to review it.  This can be a bit confusing for borrowers, but you can use a loan mod software program designed to mimic the standard formula, and all of the important calculations will be done automatically for you.  Then you can fine tune your figures until you know that you fit right in.

Avoid mistakes and increase your chances for a Citimortgage loan modification approval with the best selling resource for homeowners, The Complete Loan Modification Guide kit and Loan Modification Software.  This easy to use kit gives you step by step directions and the software will show you just where you may need to fine tune your budget in order to meet the standard approval guidelines.  Visit MyLoanModificationCenter.com for more information.

HELP!

Confused about how to apply and qualify for a Citibank loan modification? Don’t feel bad – you’re not alone.  Most borrowers are completely unaware that there are standard approval guidelines that are used and that your eligibility will be determined by whether the information you provide on your financial statement fits into those guidelines for not.  It is therefore critical to have at least a general understanding of just what the bank needs to see from you in order for your loan mod to get approved.

Citibank Loan Modification Approval Guidelines:

1. You must live in the home as your primary residence and be facing a legitimate financial hardship situation.
2. Your loan must be able to be modified using the standard Waterfall Method of modification – this means either lowering the interest rate to as low as 2%, extending the loan term to 40 years or sometimes deferring or forgiving principal balance (maximum allowed will equal a new loan balance of 100% of current market value)
3. Prove enough monthly income, acceptable monthly expenses and allowable bank balances to pass the standard approval guidelines.

Know the Guidelines

Citimortgage uses the federal loan modification criteria to determine which of it’s borrowers will get a loan mod.  This is a standard mathematical formula which takes into consideration your gross monthly income, your monthly household expenses and your current bank balances in liquid accounts (retirement accounts are not counted).  If your financial statement shows that all of these items fit into this standard formula, then you have a very good chance at getting approved for a loan workout and a new lower mortgage payment.

Most homeowners find that trying to figure out just how much monthly income they need to qualify and what amount of monthly expenses to show is just too difficult.  However, this is critical information to know, because then you can make any necessary adjustments to your budget before you send it in to Citimortgage for loan modification review.  If you just guess at it, chances are you will find yourself denied.  You may want to use a loan

Automatic Calculations

modification software program that was designed specifically for homeowners.  It will do all these calculations for you automatically, and you will see immediately just where to make adjustments to your figures in order to pass the standard approval formula.  Visit MyLoanModificationCenter.com for more information about how to improve your chances of success.

HELP!

How much monthly income do you need to qualify for a Citimortgage loan modification?  It can be difficult to know if your own income is enough or even too much to be eligible for a loan workout, but the good news is that there is actually a standard mathematical formula that is used to determine just how much income a homeowner needs each month in order to fit into the standard approval guidelines.

When Citimortgage reviews your loan modification application, they will be looking at your financial statement very closely.  This is the page on your application that details your monthly income, monthly expenses and bank balances.  They will then use this information provided to them in a formula, and if your loan can be modified using the standard methods you will have a very good chance of getting a loan workout approval.

The details of this formula can be confusing for homeowners, but you can use

Know the Formula

a loan modification software program that mimics this very same calculation, and does it all for you – quickly and automatically.  Think how helpful it would be to know in advance just what you need to show on your loan mod application in order to pass all the approval guidelines.  You could then use that information to make any adjustments to your figures before Citimortgage has the chance to review it.  Obviously, this would greatly increase your chances of success.

If your income is too low, then you need to know that ahead of time so that you can get a second job, rent out a room or try some other way of increasing your income.  If your income is too high, then you

Uses Approval Formula!

will also know that, because when the loan mod software program gives you the results, you will see that your modified loan terms would not be a benefit to you.  It’s easy to make mistakes when trying to figure this out by yourself, but you can save time, frustration and avoid errors by using the loan mod software program designed specifically to help homeowners qualify for a loan modification.

If you need help to apply for a Citimortgage loan mod, you may want to use the #1 resource for homeowners, The Complete Loan Modification Guide kit and Loan Modification Software program.  This step-by-step, easy to use program will show you just what you need to qualify for a loan workout and give you the inside information

Download immediately!

you need to fine tune your figures before submitting your application.  Visit MyLoanModificationCenter.com for more information.

Know the Guidelines

Trying to get relief from high mortgage payments and need to understand how to qualify for a Citimortgage loan modification?  You should definitely try to take advantage of this loan workout option, it may help you avoid foreclosure and get you back on track.  But how do you know if you qualify or not?

Only those borrowers who can prove that they are facing a financial hardship situation will be eligible for a Citimortgage loan modification program, and you must be able to meet the standard guidelines as well.  This means that the financial information you provide on your application show in black and white that you deserve help and that you fit right into the approval criteria.  This may be easier said than done, especially if you do not know or understand what the guidelines are or how to prepare your application correctly.

Don’t feel bad, if you have never done anything like this before how are you supposed to know how it works?  The sad fact is the most homeowners deserve a loan modification, but they are turned down because they did not know how to present their situation correctly.  Unfortunately, don’t look to Citimortgage to help you with this- it is entirely up to each homeowner to make sure that their application proves that they are a good candidate.

Thankfully, you can use a loan modification software program that was designed specifically to help homeowner complete their loan mod application correctly.  The Loan Mod Quick App software mimics the standard approval triggers and is very easy to use.  All you need to do is input your own specific financial information like your monthly income, monthly bills and cash in the bank.  Immediately the results are displayed showing if you are passing or failing and just where you may need to adjust your budget in order to meet the Citimortgage loan modification program guidelines.

Once you know just how to structure your monthly budget in order to fit right in, you can then use this fine tuned information on your final application.  When Citimortgage reviews your information, you will have a much better chance of approval because your figures meet the standard guidelines.  Why take chances and guess at how to prepare your loan modification application?  Don’t waste your chance to get the help you need, the government is offering this help to homeowners so don’t miss your chance.

Not sure how to qualify for a Citimortgage loan modification?  Loan Mod Quick App software takes the confusion out of preparing your application.  This helpful tool takes the guesswork out of qualifying by figuring your debt ratio, target payment and other important calculations for you.  Why take chances with your application?

Easy to Use-Avoid Mistakes!

Simply input your unique financial information into the Loan Mod Quick App and it calculates it all for you!  You can save hours of time and avoid costly mistakes.  The Complete Loan Modification Guide kit is the best selling do-it-yourself system that includes the software, handbook, forms and much more.

Susan Gregory is the author of two resource books for homeowners and real estate professionals, the best selling The Complete Loan Modification Guide Kit & Software and The Stimulus Book-HAMP & HAFA Edition.  She also teaches workshop training classes for the federal programs to help real estate professionals assist homeowners with home retention and exit strategies.  The Complete Loan Modification Guide kit provides a valuable resource for borrowers that includes a step by step handbook, required forms, and a loan modification software program that mimics the federal approval triggers for loan

Download immediately!

modification.  An advocate for homeowners, Susan also offers free 30 day email support for all of her clients who purchase her publications.  Thousands of homeowners have been helped using these materials.  Visit http://www.myloanmodficationcenter.com for more information.

Before you send in your Citimortgage loan modification application double check it to make sure you did not make any of these common mistakes!  Since only about 25% of homeowners are approved for a loan modification, it is very important to give yourself the best chance of success by learning exactly what the bank will need to see on your paperwork in order to qualify you.

While there are many reasons that a homeowner may not be approved for a Citimortgage loan modification, below is list of some of the most common mistakes that applicants make on their application:

Loan Modification Mistakes:

1. Incomplete paperwork-this means that you did not supply all of the requested documents or left blank spaces on your application
2. Not providing proof of your income-you must send in your two most recent paycheck stubs or a year to date P & L if you are self employed
3. Financial statement not prepared correctly-the second page of the application is a breakdown of your monthly income,  monthly expenses, and assets.  This information will be reviewed carefully and a determination will be made if the borrowers financial situation qualifies for a loan modification.
4. Not following up every few days-most homeowners send in their paperwork and then wait.  But your application may be stuck unless you continue calling in to keep it moving ahead.

A Citimortgage loan modification could be the solution for many homeowners so that they can afford to keep their home-so why don’t more people get approved?  The main reason is that borrowers simply do not know how to apply correctly and send in their application without making certain that it fits into the approval guidelines.  It is pretty clear-cut, either you fit into the approval formula or you don’t.  And the only way Citimortgage knows this is by reviewing the information you send in.

Know the Guidelines

So, you are really in control of your loan modification application and the results to a large degree.  While there are certain things you cannot change, you can prepare and submit your application so that it has the best chance of approval.  This means that you have fine tuned your numbers and made any necessary adjustments before Citimortgage ever reviews it.  If you knew ahead of time that a $200 adjustment could be the difference in getting your loan mod, you would certainly do that, right?

You can avoid mistakes on your application by learning and preparing ahead of time.  The formula for qualifying is standard-you can use this very same formula when you prepare your financial statement so that you know ahead of time you fit into the guidelines.  Fortunately, there is even a software program that automatically calculates and demonstrates if your financial information meets the approval criteria.  When you input your own monthly income, expenses and assets it will show you immediately where you may need to make adjustments-then you can use this information to prepare your accurate and acceptable loan modification application.

Susan Gregory is the author of two resource books for homeowners and real estate professionals, the best selling The Complete Loan Modification Guide Kit and The Stimulus Book-HAMP & HAFA Edition.  She also teaches workshop training classes for the federal programs to help real estate professionals assist homeowners with home retention and exit strategies.

Prepare your application correctly!

The Complete Loan Modification Guide kit provides a valuable resource for borrowers that includes a step by step handbook, required forms, and a loan modification software program that mimics the federal approval triggers for loan modification.  An advocate for homeowners, Susan also offers free 30 day email support for all of her clients who purchase her publications.  Thousands of homeowners have been helped using these materials.  Visit http://www.myloanmodficationcenter.com for more information.

Do you have a Citimortgage home loan that you are having trouble paying?  Homeowners who are falling behind on their mortgage and cannot refinance due to a loss of equity may be able to take advantage a new expansion to the government loan modification plan called HAMP.  This loan workout program has been expanded to include a new option that participating lenders can utilize for those borrowers who owe more than their home is worth.

Citimortgage offers the HAMP federal loan modification plan and will also be offering the new principal reduction option called PRA.  This stands for Principal Reduction Alternative and is a method of lowering the principal balance on qualifying loans so that it more closely matches the home’s current market value.

This is good news for those homeowners who have lost equity in their homes due to the housing meltdown.  Across the nation, over $2 trillion dollars in equity has been lost since the housing crisis began.  Many homeowners are just walking away from their  underwater mortgages because they can no longer afford to make the payments on a home that has no value.  The government realized this problem and that is why they have expanded HAMP with the PRA option.

A Citimortgage loan modification that includes principle reduction will be considered for those borrowers who can pass the eligibility requirements.  The lender will have to review the borrowers application and will consider the cost of modifying the loan as opposed to foreclosure.  If it is more cost effective to modify the loan and lower the loan balance, then the PRA option may be offered.  The most important criteria will be the current loan balance in relation to the home’s current market value.

Citimortgage has agreed to review every borrower who requests consideration for HAMP-in fact they are under contract with the Treasury Department to do so.  Borrowers who want to pursue a loan modification need to prepare and submit their application to the bank for review.  Of course it is critical that the forms be completed properly so that they will pass the approval guidelines.  Homeowners can get help with this by using a software program designed specifically to do all of the important calculations and will give applicants the inside edge to approval.

A Citimortgage loan modification that offers a low affordable payment along with a lower loan balance could be the answer to making home ownership affordable again.  Make sure that the application is completed properly so that you have the best chance of success.

Prepare your application correctly!

Susan Gregory is the author of two resource books for homeowners and real estate professionals, the best selling The Complete Loan Modification Guide Kit and The Stimulus Book-HAMP & HAFA Edition.  She also teaches workshop training classes for the federal programs to help real estate professionals assist homeowners with home retention and exit strategies.  The Complete Loan Modification Guide kit provides a valuable resource for borrowers that includes a step by step handbook, required forms, and a software program that mimics the federal approval triggers for loan modification.  An advocate for homeowners, Susan also offers free 30 day email support for all of her clients who purchase her publications.  Thousands of homeowners have been helped using these materials.  Visit http://www.myloanmodficationcenter.com for more information.

Save Your Home

Citimortgage has halted foreclosures in the majority of states across the country as allegations of improper internal procedures have been made by Attorneys General and investigations are pending.  For almost a year, homeowners have been complaining about abusive practices that resulted in losing their home, but up until now those complaints have been falling on deaf ears.

Citimortgage is an authorized lender under the federal HAMP option, whereby a loan modification should be considered prior to moving any homeowner to foreclosure.  However, the banks internal processing seems to be extremely unorganized, and could even be found to be negligent.  Many borrowers who were told they were approved for a loan mod, were then notified that there home had been moved to foreclosure.

Since Citimortgage is stalling their foreclosures, does this mean that borrowers will be able to stay in their home indefinitely?  Probably not, but it does present a unique window of opportunity for homeowners to begin pursuing a permanent loan modification again.  Since the bank would rather have some payments coming in on each mortgage than absolutely nothing, they will likely be a whole lot more cooperative this time around when a borrower asks for a loan modification.

How can a Citimortgage homeowner take advantage of this new turn of events?  Well, now is the optimum time to contact the bank and tell them that you want to re-apply for a loan modification.  This time, however, make certain that your application is completely correctly so that you have the best chance of approval.  Your financial statement, detailing your income and expenses, must be prepared so that it proves you meet the approval guidelines.

The combination of the Citimortgage suspension of foreclosures and your perfectly prepared loan modification application could be the magic formula to ensure that you get help to keep your home with a permanent loan workout.  You may want to use a software program designed specifically to help borrowers complete their application correctly-just to be sure that you have the best chance of success.

Prepare your application correctly!

Susan Gregory is the author of two resource books for homeowners and real estate professionals, the best selling The Complete Loan Modification Guide Kit and The Stimulus Book-HAMP & HAFA Edition.  She also teaches workshop training classes for the federal programs to help real estate professionals assist homeowners with home retention and exit strategies.  The Complete Loan Modification Guide kit provides a valuable resource for borrowers that includes a step by step handbook, required forms, and a software program that mimics the federal approval triggers for loan modification.  An advocate for homeowners, Susan also offers free 30 day email support for all of her clients who purchase her publications.  Thousands of homeowners have been helped using these materials.  Visit http://www.myloanmodficationcenter.com for more information.

Download immediately!

Not sure how to qualify for a loan modification? Loan Mod Quick App software takes the guess work out of preparing your application. This helpful tool takes the guesswork out of qualifying by figuring your debt ratio, target payment and other important calculations for you. Why take chances with your application? Simply input your unique financial information into the Loan Mod Quick App and it calculates it all for you! You can save hours of time and avoid costly mistakes. The Complete Loan Modification Guide kit is the best selling do-it-yourself system that includes the software, handbook, forms and much more. Visit myloanmodificationcenter.com and order today-Immediate download!

Financially strapped Citimortgage borrowers may be able to get loan modification help under President Obama’s Home Affordable Plan.  Depending on your circumstances, you could be eligible for one of the three options offered and funded by the Treasury Department.  $75 billion dollars has been allocated to help stop the foreclosure crisis, and you may qualify for help under this program.  Learn the options and find out which one could benefit you.

Citimortgage loan modification option#1:  Home Affordable plan is a refinance plan that gives borrowers the opportunity to take advantage of the current low interest rates by refinancing their current loan.  In order to qualify for this plan, you cannot be late on your mortgage payments and you cannot owe more than 125% of the homes current market value.  This part of the program only applies to your first trust deed, and if you have a second loan that lender must agree to the transaction.  This plan is called

Federal Plan

HARP for Home Affordable Refinance Plan.

Citimortgage loan modification option # 2:  HAMP is a loan modification program that will offer qualified homeowners interest rate reductions down to 2%, loan terms extended to 40 years and finally some principal deferral on their first trust deeds.  The goal is to reach a target payment that equals just 31% of your gross monthly income.  If you have a second loan on your home, the plan now mandates a modification to that loan as well with interest rates down to 1% or 2%, and in some cases the debt may be retired entirely.   This plan is called HAMP for Home Affordable Modification Plan.

The Treasury Department is paying the lender for each successful modification, and borrowers who are able to maintain the new modified payments will also be paid up to $5000 over the next 5 years.  If you do not qualify for the refinance plan because you are delinquent or you owe too much on your home, the Home Affordable Modification may be a good option for you.  Make sure you understand the approval criteria and prepare your application before calling your lender to apply.  This is a one-time chance and you want to make sure you know how to qualify so you don’t make a mistake.

Citimortgage Home Affordable option #3 is a short sale or deed in lieu of foreclosure.  The federal government will now pay lenders $1000 for allowing a sale where the proceeds are less than the amount owed on the property.  The government will also share the cost of eliminating second liens on the property.  If the short sale does not work, the the homeowner can turn over the keys and transfer the home without a foreclosure process.  The borrower could then be eligible for  $1500 in relocation expenses.  This program is called HAFA for Home Affordable Foreclosure Alternative.

All of these options have monetary incentives that encourage lenders to work with borrowers and find a solution quickly.  Even so, not all borrowers will qualify for these options.  If you are facing financial difficulty, find out more about the programs and how you could qualify for help.  You must invest some of your time and effort to learn and prepare before contacting Citimortgage if you hope to be successful.  There is a four step formula that all banks use to determine if a homeowners qualifies for a federal loan modification.  You can use this very same formula to prepare your financial statement so that you know you fit into the approval guidelines.

If you are confused about how to calculate your debt ratio, new target payment or exactly how to complete your financial statement correctly for your bank, then be sure that you take the time to learn the formula or use a software program that will do the necessary calculations for you automatically.  Now is not the time to take chances-prepare your application correctly and you will have a good chance of success.

The government is encouraging homeowners to work directly with their lenders and discouraging loan modification companies who charge large fees to assist borrowers.  You can get help-if you know how to get it.  Start now to learn and prepare so you can get back on track.  It’s not hard with the help of good resource material and a couple of hours of your time-it will be worth it!

Download immediately!

Get the help you need to prepare your own accurate and acceptable loan modification application. The Complete Loan Modification Guide kit is the best selling do-it-yourself system that takes the guess work out of preparing your financial statement, hardship letter and all of the required forms your lender needs. You get an easy to use software program-Loan Mod Quick App-as well as an easy to understand handbook with step by step directions. Why take chances with your application? Simply input your unique financial information into the Loan Mod Quick App and it calculates it all for you! It couldn’t be easier-end the frustration-Visit myloanmodificationcenter.com and order today.

A Citimortgage loan modification program has certain terms and requirements that all homeowners need to understand.  This is important if you hope to get the very best loan workout and get the lowest loan terms so that you can afford your mortgage payment now and in the future.  There are some standard terms and approval requirements you can learn that will help you when you deal with the bank.

The Citimortgage loan modification program terms can vary depending on the actual loan workout program you apply for.  If you ask to be considered for the government program, called Home Affordable Modification or HAMP, then you need to learn the basic 4 step approval formula that will be used to determine if you qualify.  This is critical because if you do not prepare your financial statement using this formula you are taking a big risk of not fitting into the approval requirements.

The Citimortgage loan modification approval requirements under HAMP are determined by your debt ratio, new target payment, asset ratio and other calculations.  If you are confused about how to compute your own figures, then use a software program designed just for homeowners that does all these important calculations automatically for you.  All you have to do is put in your own monthly income and expenses and you get all the figures done for you.  The other benefit of using the software is that you will see ahead of time if you need to make any adjustments to your financial statement to fit into the approval guidelines.

The Citimortgage loan modification approval requirements are standard for everyone.  Learn these and

Federal Plan

you will be on your way to preparing a accurate and acceptable application for the bank.  The government has set up standard approval criteria and a standard method of modifying loans under HAMP.  You can use this information to make certain that you fit into those approval guidelines.

1. Do you live in the home as your primary residence?
2. Is your current loan amount less than $729,750?
3. Was your loan taken out before 1/1/09?
4. Is your current mortgage payment more than 31% of your gross monthly income?
5. Are you facing a financial hardship and your payment is unaffordable?

If you can say yes to those questions, then you have met the basic Citimortgage loan modification approval requirements.  But, now there is a second set of guidelines that determine if you get the 2% interest rate, a 40 year term or some principal reduction.  This is where your debt ratio, target payment and other figures must be checked to be sure you meet the approval formula.

If you are confused about how to complete your financial statement correctly, or need help with your debt ratio, new target payment or asset calculation, you can take advantage of a software program designed just for homeowners trying to get a loan modification.  All you have to do is input your own monthly income, monthly debts and some other basic information and all the calculations are done immediately for you.  It’s simple and accurate-you can save hours and avoid mistakes that could cost you.

Download immediately!

Get the help you need to prepare your own accurate and acceptable Citimortgage loan modification application. The Complete Loan Modification Guide kit is the best selling do-it-yourself system that takes the guess work out of preparing your financial statement, hardship letter and all of the required forms your lender needs. You get an easy to use software program-Loan Mod Quick App-as well as an easy to understand handbook with step by step directions. Why take chances with your application? Simply input your unique financial information into the Loan Mod Quick App and it calculates it all for you! It couldn’t be easier-end the frustration-Visit myloanmodificationcenter.com and order today.