HELP!

Homeowners usually get stumped when it comes to completing the Citimortgage loan modification forms – especially the financial statement on page two.  This is a detailed accounting of the income, expenses and assets for the borrower, and is actually the most important part of the entire application.  The number one reason borrowers are denied a loan workout is because they did not know how to prepare this form correctly.  However, following a sample monthly budget can help avoid mistakes and increase the chances of approval.

What do you need to show on the Citimortgage loan modification financial statement?  First item of importance is the gross monthly income – this is the figure that is used in the federal program to determine if the borrower is actually eligible for a HAMP loan workout, and this figure also determines what the new target payment would be if modified.  So, it is critical to know just what amount of income is needed in order to fit into the formula.  The other important part of the homeowner’s budget is their bank balances.  The feds have a standard amount of liquid reserves that are allowed, so if there is too much money in the bank it could be a cause for denial.

Apply Correctly

A Citimortgage sample monthly budget can help the borrower figure out exactly how much monthly income, monthly expenses and bank balances they need to prove in order to qualify.  Instead of just guessing at what will work, the information on the sample budget can be used to fine tune the figures and then use that as the final figures on the loan modification application.  Sometimes it only takes a minor adjustment to the budget in order to fit right in, but if you don’t know this ahead of time then how can you make the needed adjustments?

Sample Budget-Automatically!

How can you get a Citimortgage sample monthly budget to help you with your application?  The #1 resource for homeowners includes a software program that automatically calculates everything for you – The Complete

Download immediately!

Loan Modification Guide kit and Loan Modification Software program has helped thousands of homeowners.  You receive step by step directions, forms and your monthly sample budget will be automatically calculated for you.  Visit MyLoanModificationCenter.com for more information and get started today!

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

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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.

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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.

Homeowners trying to apply and qualify for a Citimortgage loan modification should learn the basic terms that could be offered so that the most beneficial loan workout will be given.  It just makes sense to know a bit about the possible options before you decide on what to accept from the bank.  Some homeowners receive very aggressive loan reductions while others don’t get much help at all-find out how to optimize your loan mod.

The Citimortgage loan modification terms being offered can vary quite a bit depending on which program you are put into.  There are a many options available, but the main difference is between the federal plan called HAMP and the bank’s own proprietary or in-house programs.  The HAMP guidelines and terms are standard and actually regulated by the Treasury Department, while the in-house programs can vary greatly because the lender custom tailors the program options depending on each situation.

If you apply for a Citimortgage loan modification and are offered the HAMP terms, you can be sure that you have gotten one of the most aggressive loan workouts available.  This program offers a low 2% interest rate, 40 year terms and often some type of principal deferment or even reduction in your loan balance.  The bank gets paid by the Treasury Department to offer this plan, so you must prove that you meet the strict eligibility guidelines.

If you do not meet the HAMP approval criteria, you may still be offered some type of Citimortgage loan modification with an in-house plan.  Again, these terms can vary a great deal and may benefit you or may not be much help.  You may be offered an interest only option, or a lower payment for only a short term.  It is important to know ahead of time what your goal is and be working towards a long term solution-a fixed payment that you know you can afford now and in the future.

Either way, you will be asked to prepare and submit a financial statement that details your monthly income and monthly expenses.  This information will be used to determine what if any loan modification program you qualify for.  A calculation will be done that includes your debt ratio, so it is important to know that your figures are accurate and acceptable before the bank reviews the financial statement.  If you are not sure how to do this calculation, then use a software program designed just for homeowners that does all of the figuring for you automatically.  It easy-simply input your own monthly income and monthly expenses and your debt ratio, new target payment and all the other approval triggers are shown immediately!  Avoid mistakes and save time-and get it right the first time.

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.

Obama is fed up with Citimortgage taking months and months to review HAMP loan modification applications while homeowners struggle to hold onto their homes. The dismal success rate for loan workouts using the federal program has meant that the vast majority of borrowers have not been helped using the government backed home rescue plan. This is going to change as Obama has now mandated timelines and revised approval processes that lenders will be following.

Loan modification help under HAMP will now be determined within 30 days of Citimortgage receiving a homeowners complete application. Here is the basic timeline that the Fed announced needs to be implemented immediately:

• Written confirmation of receipt of loan modification request within 10 days
• Approval or denial for loan modification within 30 days of receipt of homeowners complete application
• 3 month Trial Modification given to qualified borrowers and at the end of the trial the modification will become permanent automatically.
• If denied a loan workout, homeowners will be offered another option such as short sale, deed in lieu or other exit strategy.

This is good news for thousands of homeowners who have been getting the run around from Citimortgage-sending and resending the same information over and over again, or being told they are approved one day and then the next week being told they do not qualify. This also means that homeowners will only have one chance to apply-so it is very important to prepare and accurate and acceptable loan modification application the first time.

Federal Plan

This also means that it is critical to make certain your Citimortgage loan modification application is prepared correctly the first time.  Remember, there are standard approval guidelines that must be met and your application will be reviewed carefully to determine if you qualify.  If you send in the wrong information or do make necessary adjustments to your monthly budget before Citimortgage reviews it, you could risk denial.  Thankfully, there is a formula that you can use to fine tune your budget and make certain that you fit into the approval guidelines.

If you are confused about how to figure your debt ratio, target payment, disposable income or the other qualifying triggers, take advantage of a great tool designed to help homeowners with their loan modification application.  The Loan Mod Quick App software mimics the approval guidelines and is so easy to use that all the calculations will be done for you automatically.  Simply input your own monthly income and monthly expenses and you will see immediately if you need to make any adjustments to your budget in order to qualify.  You can avoid mistakes and save hours of frustration.

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.