What if I’m having trouble making mortgage payments and facing foreclosure?

We understand that many homeowners across the country are having trouble making their mortgage payments. We also understand that your situation is personal. That is why CitiMortgage is here to help you find a solution that works for you.

We offer a variety of options to allow you to stay in your home.

Repayment Plan. This agreement is typically used if you have had a short-term reduction of income that severely impacted your ability to pay but is now resolved. Through a written agreement with CitiMortgage you pay your regular monthly mortgage payment and an additional amount each month to catch up on the delinquent payments over time. The repayment plan brings your account current over time as the payment obligations are met.

Deferment. In this situation, you agree to make portions of your mortgage payments at a later time. While the total amount paid will be the same or more, a deferment can be a way for you to buy more time and remain in your home if you are experiencing a temporary hardship.

Modification. Sometimes, if your income or financial circumstances change long-term, you may be unable to pay your existing monthly mortgage payments on an on-going basis. While you may not be able to refinance your mortgage, you may qualify for a mortgage modification. An example of a modification program is the recently introduced government program - the Home Affordable Modification Program, or HAMP. In addition to this program, there are similar lender-specific programs which CitiMortgage may be able to offer you if you do not qualify for HAMP.

If I find myself in a situation of foreclosure, what are my options?

We also have options if you are unable to remain in your home.

Short Sale. A short sale is when you sell your house for less than the principal balance of the existing mortgage. Typically in a short sale, the homeowner is experiencing a financial hardship, and the property may be listed for sale at less than what is owed on the existing mortgage. The lender may agree to accept less than the full amount owed in order to consider the mortgage obligation complete.

Deed-In-Lieu. A deed is a legal document that provides a record of ownership for a particular property. By signing over the deed, you are transferring ownership to the lender. Once the Deed-In-Lieu is completed, you are released from your mortgage obligation to the lender.

In both short sale and deed-in-lieu situations, you must be willing to leave your home and must work with your lender to ensure the process is fully documented.

We know it can be difficult to understand all of these options and figure out the best solution. However, the more you know, the better informed you will be when making a decision regarding your home.

How can I reach out for help?

The most important thing you can do is to contact us so we can help you find the solution that is most appropriate for your situation. We have a dedicated team waiting to help you. Contact us at (866) 272-4749†.

We are here for you.

What’s the process that you follow?

The specific processes that we follow can sometimes seem complex and even confusing when you are a homeowner facing financial challenges. We understand that homeowners want to remain informed about the status of their loans. In many cases, our specific process reflects procedures necessary to meet federal and state requirements. For example, there are specific requirements necessary for a borrower to qualify for government programs such as HAMP. We care for our customers, and we recognize that these are difficult times for many. Our customer service teams look forward to working with you to help resolve your questions. If you need assistance with the process, we encourage you to contact us at (866) 272-4749†.

I've read a lot about inappropriate actions by banks. Is there a problem? Do I need to worry about it?

As the global economy suffered and many homeowners struggled, financial services companies faced new demands on back-office processes. Those back-office processes are now coming under review by customers, regulators and government authorities.

At the same time, everyday economic concerns exist for many homeowners – people who work hard and want to stay in their homes. We want to make sure our process is clear and our communications are open. We want to answer questions or concerns you may have about your mortgage.

Specifically, here’s how you can reach us with questions:

Contact us regarding your specific financial situation by calling (866) 272-4749†.
Or visit to explore comments and questions or to ask your own questions.

There has been a lot of negative press regarding banks. Why should I trust you?

We understand you have questions about how banks have operated.

We’re in business for our customers. We’re proud of the efforts we take to make sure questions are answered and concerns are addressed.

That’s why we want to make sure our process is clear and our communications are open. We want to answer any questions or concerns you have about your mortgage, your home or our business practices. Call (866) 272-4749†.


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