Citi Announces Plan For Homeowner Assistance to Avoid Foreclosure

For those of you who own a house with a Citi mortgage, you might be interested in this announcement made by Citi Group to help homeowners avoid foreclosure.

Citi Group will reach out to a group of 500,000 homeowners to help them stay current on their mortgages, and it could result in a $20 billion dollar workout on existing mortgage balances. They will also extend their foreclosure moratorium to those homeowners with sufficient income to pay a restructured payment plan and work in good faith with Citi to stay in their home.

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5 Tips To Help You Avoid Foreclosure

This subject has hit home for me lately. I don’t even have a mortgage yet, so it’s not a personal situation, but someone I know is going through some financial issues right now with their mortgage. This is the first time that I’ve been affected by it on a somewhat personal level. Here are five things you can do to help prevent foreclosure:

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Seven Ways to Save Your House From Foreclosure

If you haven’t already noticed, the housing market is correcting itself right now. That’s what capitalistic markets do, they correct themselves. The government has intervened a little bit, but for the most part, you are seeing the housing market fix itself. Unfortunately, thousands of hard-working citizens are losing their homes. They bought during the boom, might have stumbled into a mortgage they didn’t understand, or they wanted to upgrade their house, but really couldn’t afford the new payment. Foreclosure is all over the place in states like Florida, Nevada, California, an New York. I live in Florida, and I can literally open up the newspaper and find hundreds of foreclosures every weekend. So, here are ten ways that I think you can save your house and avoid foreclosure. Some of these might seem out of reach, but it’s still an option.

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