CitiMortgage loan modification success. Regarding the success CitiMortgage loan modification, there is not much information floating around and not all that useful. Citibank is one of the main banks involved as a lender under the Obama loan modification program. The three main things to consider before trying to get a loan modification through them ...
1 - Debt / income
1 - Debt / income
Under federal guidelines for the loan modification program, a key component of the qualification is that your monthly mortgage commitment must be more than 31% of your gross monthly income. 31% is the online federal guideline, but some lenders have their own orientation, using the federal limit as a minimum.
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2 - Hardship letter
The other key element of the qualification according to the modification scheme. The hardship letter should detail your current situation, how you got there, and the steps you have taken to remedy the situation. There is a letter for help, but a letter making a strong case for you to be considered for the loan. This is a key element in the success CitiMortgage loan modification. If CitiMortgage catches you in a blatant lie, rest assured that your chances of approval are slim to none.
3 - Errors in the application is a big no-no
CitiMortgage loan modification success will depend heavily on this third point. You can just not afford to complete the application form correctly. All errors or deviations will cause your application to read from the file cabinet (Yes, they must have each application). One of the main reasons for the denial is incorrectly completed applications.
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By far the best way to get the 3 main components above that work for you is by using a loan modification online now to resolve the application letter and difficulties, etc. A loan modification company will have a deep look at your situation and help the best possible application.
Where CitiMortgage loan modification help?
The loan modification process can be frustrating and overwhelming. Visit Best Loan Modification Companies [http://bestloanmodificationcompanies.org/] why have a loan modification business is crucial to save your home and how you can get a free assessment to determine whether a change is good for you.