CitiMortgage Inc. has announced plans for an upcoming Mortgage Assistance Call-a-thon to take place from 7:00 a.m. on Dec. 15, 2010 until 1:00a.m. on the morning of Dec. 16, Eastern Standard Time. For the event, CitiMortgage (CMI) customers who have concerns about their ability to pay their mortgage can call into the company’s foreclosure prevention centers for information and advice. The Call-a-thon, featuring expanded customer service hours, will be staffed by the company’s foreclosure prevention experts, while senior managers and increased numbers of supervisors will be on hand to provide additional support.
Beyond helping customers directly with their concerns, the Call-a-thon is intended to be an educational event to help distressed homeowners understand more about the various assistance programs that may be available to them. CitiMortgage customers experiencing financial difficulty who have other questions related to their mortgages are also encouraged to call in.
“As we head into the New Year, many people continue to be concerned about their financial matters. Because these issues are often top of mind now, we wanted to reach out to our CitiMortgage customers who may be experiencing hardship to explore ways in which we can help them,” said Sanjiv Das, president and chief executive officer of CitiMortgage. “We have a number of programs and solutions available for borrowers who may need help, but our ability to assist customers begins with the start of an active dialogue.”
Suzanne Boas, president of CredAbility, a national non-profit credit counseling organization said, "When our clients are having difficulty making mortgage payments, we always encourage them to speak with their mortgage servicer to explain their situation, and explore options. We applaud CitiMortgage for its efforts to inform and help its customers during these difficult times."
In order to reach customers who might benefit from the event, CitiMortgage mailed invitations with a dedicated toll-free number across the country to customers who may be experiencing serious financial hardship. In addition to these invitations, emails and text messages will also be sent to borrowers. An eight-minute DVD containing information about different homeowner assistance programs and their eligibility requirements will be offered to all who call in during the Call-a-thon.
To reach CitiMortgage’s Call-a-thon representatives, customers may call the dedicated toll-free telephone number for this event: (877) 617-9465 or they may log onto: CitiMortgage.com, New.Citi.com, Blog.CitiMortgage.com or (insert CitiTwitter and CitiFacebook addresses).
In February 2010, CitiMortgage announced the launch of the Citi Foreclosure Alternatives Program, a six-state pilot initiative that allows distressed CMI borrowers to avoid foreclosure and remain in their homes for up to six months by agreeing to sign over their property deeds to CMI at the end of that period. During the program, Citi will also provide relocation counseling by trained professionals and financial relocation assistance to the borrowers. Citi also participates in the Administration’s Home Affordable Foreclosure Alternatives (HAFA) program.
Upon Treasury’s release of the final service agreement forms, Citi was among the first servicers to sign up as a HAM servicer in 2009. Citi believes this approach to loan modification is helping keep borrowers in their homes, forestalling foreclosures and stabilizing communities around the country.
In early March 2009, Citi launched Homeowner Unemployment Assist specifically to help recently unemployed, delinquent CMI customers stay in their homes by making a reduced monthly mortgage payment for three months while they seek work. The program is intended to serve as a bridge toward a longer-term solution, helping homeowners stay in their homes and in their communities while they get their feet back on the ground.
In November 2008, Citi announced the Citi Homeowner Assistance Program for families, particularly in areas of economic distress and sharply declining home values, whose mortgages it holds.
For more information, visit www.citigroup.com or www.citi.com.