CitiMortgage Boosts Foreclosed Prevention Efforts (Reo properties)
CitiMortgage, the mortgage unit of Citigroup Inc., has significantly increased its loan modification offers responding to Obama Administration’s call to intensify and speed up the process to help more troubled homeowners avoid foreclosures. According to the mortgage servicer, it was able to help 108,000 troubled borrowers avoid the foreclosure process in …
Source: www.foreclosurelistingsnationwide.com
Foreclosed Home Prevention Program Assessed by FDIC Chair
Approximately 40 percent of homeowners who obtained loan modifications under the Obama administration’s foreclosed home prevention program have been redefaulting, according to Sheila C. Bair, chairman of the Federal Deposit Insurance Corporation. She further explained that this is one of the reasons why lenders have not been stepping up their …
Source: www.foreclosurelistingsnationwide.com
Tags: Bair, Borrowers, Citigroup, Citigroup Inc, Deposit Insurance Corporation, Fdic, Federal Deposit Insurance, Federal Deposit Insurance Corporation, Foreclosed Properties, Foreclosure, Foreclosures, Insurance, Lenders, Loan Modification, Mortgage Servicer, Obama, Prevention Efforts, Prevention Program, Reo Properties, Sheila