CitiMortgage and Citibank Home Loan Refinancing and Modification Options

The Treasury Department has signed and agreement with Citibanks repairman, CitiMortgage allow Citibank to offer a more affordable house and an aggressive plan for its troubled borrowers. What this means is that the loan lenders are able to accept loan applications for homeowners and the lender also offer incentives for every loan they modify using your new plan. Once the new agreement was agreed between the lender and the Treasury Department, Citibank and CitiMortgage they have to offer this federal plan for any and all owners who apply for review of the plan. This means that if you applied for a loan and have been turned down, you can examine your case again to be reconsidered for the new subsidized federally.

Ask yourself these questions below to see if you are a candidate for the new aid plan:

1. Have you obtained your loan before January 1, 2009?

2. Y
ou live in your home as your principal residence Do?

3. Does your current monthly payment exceeds 31% of your gross monthly income? (Insurance, taxes and owners of debt, including)

If you answered yes to the questions above, you approach a lender about Home Affordable Plan. What is trying to achieve an affordable monthly payment. Given that the Treasury pays Citibank for each borrower they help they are much more motivated to help the borrower. On top of better rates and lower payments, each owner who stays current on your home loan modified to 5 years will be paid $ 5,000.

Owners are encouraged by President Obama to work with banks to keep their homes. Take the time to learn the loan modification process so that you can be as prepared as possible. Do not take chances you can learn all about the loan modification process.

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