cuatro Things to Know about Mortgage Changes That have Citi
Are you presently with trouble investing your mortgage? Maybe you’ve currently defaulted? When you need to maintain your household you will want to explore getting financing modification to quit foreclosure and possess the home loan to normal. A loan amendment might even lead to a diminished payment and you can principal forgiveness or forbearance.
Discover that loan modification you’ll want to work with your own financing servicer, which is the organization which will take your repayments, credits your account, and you can forecloses for you when you avoid paying.
However your servicer isn’t necessarily the owner of your loan. This is the trader, and they’re one which has the power to approve or deny the loan modification software.
Some companies, particularly Ocwen https://availableloan.net/personal-loans-ga/, simply service loans, and don’t put money into one money. However banks, such as for example Citi (aka Citigroup or Citibank), could well be the servicer out of and you can investor in the a mortgage, or just you to definitely and never one other.
Citigroup is among the large five banking institutions from the You.S. (más…)