Those homeowners who are having trouble making their mortgage payment or you are at risk of losing their homes may be eligible for a Citimortgage loan modification and qualify for the streamlined approval process. The bank is now approved to offer the federal loan workout program that is funded by $75 billion dollars of stimulus money. Learn how you may be eligible for relief using the very aggressive program initiated by President Obama to help borrowers keep their homes.
Citimortgage has agreed to abide by the loan modification terms set forth by the Treasury Department, and in return the lender will be paid for each loan workout that meets the federal guidelines. The approval process basically involves 3 steps for homeowners-if you know how to navigate your way through and can prove you meet the guidelines, then you will be on your way to a low mortgage payment.
- Step one is to make sure you can pass the basic eligiblity questionnaire. If you can meet these guidelines, then you can go on to the second step. Do you live in the home as your principal residence? Was your loan taken out before January 2009 and is the balance less tan $729,750? Is your current payment more than 31% of your gross income? Are you facing a financial hardship situation?
- If you passed those questions, then step 2 is to actually complete the loan modification forms and provide proof of your income and assets. Be careful! Remember, the information you provide will determine if you get approved or not-this is not the time to slap something together! Take the time to learn about the approval guidelines, and know how to make adjustments to your budget so that you will qualify. You can get help to complete your own loan modification forms and learn the insider tips to success in Chapter 2 of the best selling resource guide for homeowners, The Complete Loan Modification Guide.
- You will be given a short telephone interview and you will be asked a few questions to verify the information you provided. Make sure you have copies of all of the forms you submitted as will as all the other documents in front of you so you don’t stumble or say the wrong thing. Learn what to say and what NOT to say in Chapter 3 of The Complete Loan Modification Guide.
Once you are approved for a Citimortgage loan modification you will be on a 3 month trial-make sure you make all of the payments on time. Then the workout will be finalized and you can begin getting your finances back on track. Learn the secrets to fixing your credit score in the bonus Chapter 9 of The Complete Loan Modification Guide. These are hard times for millions of homeowners-but only those who take the time and make the effort to learn, prepare and then get going will be successful.
You can get the help you need to apply and qualify for a loan modification by ordering the best selling handbook for homeowners, The Complete Loan Modification Guide. This is a low cost, easy to read, home edition loan mod kit that will provide you with everything you need to prepare a professional and acceptable loan modification application. You are provided with all of the necessary forms and given detailed directions on how to complete them properly. The Complete Loan Modification Guide will take you step by step through calculating your debt ratio, completing the financial statements, writing your hardship letter and then putting it all together to submit to your lender.
Learn how to qualify for the Obama Federal loan modification plan. Need help completing your loan modification forms? Find out about our Customer Assist program-you work one-on-one with your very own expert to make sure your application is completed correctly. Get started today on the path to secure home ownership, order The Complete Loan Modification Guide, your loan mod in a box. For more information about mortgage loan modification, please visit us at: http://www.myloanmodificationcenter.com
6 Responses
[...] homeowners trying to get a Citimortgage loan modification can now see a light at the end of the tunnel. The bank has finalized their agreement with the [...]
Posted on December 26th, 2009 at 4:01 pm
The response time for a Citmortgage Loan Modification will be greatly improved due to the FED mandating a 30 day response to a request for a loan workout. Tired of the low percentage of permanent modifications and complaints from homeowners about lenders losing paperwork, unreasonable requests and long turn around times, Obama’s HAMP guidelines now give banks a set timeline for reviewing loan modification applications, and if the homeowner is approved and they pay all the trial modification payments on time, the loan modification becomes permanent automatically. No more updating paperwork or resubmitting your application.
This also means that you get one chance to apply for a Citimortgage loan modification-so you must do it right the first time. Remember, the information you provide on your financia statement will be reviewed to determine if you meet the approval guidelines or not. Your debt ratio, disposable income and other items will need to fit into the HAMP guidelines. Sometimes, a small adjustment to your budget can make the difference between approval and denial.
If you are not sure how to properly prepare your loan modification application, you can use the #1 resource for homeowners, The Complete Loan Modification Guide kit and Loan Mod Quick App software. Simply input your own income and debts into the program and all the calculations are done automatically for you. You will see immediately if you need to fine tune your figures-your debt ratio, new target payment, new interest rate, disposable income, asset ratio and more are all calculated.
You can visit http://www.myloanmodificationcenter.com to read more tips and there are hundreds of pages of FREE information on how to apply and qualify.
If you think you want an extra edge and need help doing your calculations, then you can order The Complete Loan Modification Guide Kit and Loan Mod Quick App software to help you prepare an accurate and acceptable application.
Posted on February 12th, 2010 at 1:01 pm
Just got my mod paperwork from Citi after 19 months of trying, but all they could do is putting me in a 40-year mortgage at 5%. What a waste of time…
Posted on August 26th, 2011 at 6:39 am
Unfortunately the new terms of the bank’s loan mod may not be beneficial. It is so important to know ahead of time what to expect and most importantly-what to ask for! Keep in mind that your financial statement showing your monthly income, expenses and assets is what largely determines the loan mod you are offered. You can use the loan modification calculator to help you determine just how you should complete this important form-when you know ahead of time what the bank needs to see in order to give you the very best loan mod, you will have the chance to fine tune your application and have the very best shot at success.!
Posted on August 27th, 2011 at 9:21 am
I have been trying to get a loan mod from CitiMortgage for 23 months. My house goes to foreclosure 12/13/11. They approved me in August, sent me 3-month payment coupons, told me to make my first trial payment on October 1, which I did, and then they sent me a denial letter. They have been telling me all along that I didn’t have enough income; I added my daughter’s income to mine so we would qualify, and NOW they tell me I am denied because my house has equity in it. It took them 23 months to come up with THAT reason for denial? Said my house was worth $400,000, I have a first with City for $319,000 plus a HELOC with Chase for $200,00. They said they don’t count the second and so I actually have equity and I could just sell the house. My foreclosure date is 2 weeks away! How am I supposed to sell my house in these turbulent ecconomic times! HELP. CITIMORTGAGE EMPLOYEES ARE LIARS, DECIEVERS AND IGNORANT.
Posted on November 30th, 2011 at 1:50 pm
These people are scammers! They made me go in foreclosure by making me pay modification payments… you can’t make payments while in foreclosure.. so what they did is make me build up debt 50, 000 then they qualified me my modification! Awesome! I owed 23 years at 3000 a month at 6.75%…. now with their new deal I owe 33 years at 6.75 that’s 3200 a month..so instead of owing 300,000 now I owe 350,000.. what a deal I have to pay back the 50, 000 at the end of the 23 years at full 3200 dollar payments for 10 years…these people are scammers don’t make trial payments you will be deceived. You can email me if you like for more info… Markojr580@gmail.com
Posted on February 10th, 2012 at 4:31 am
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