The financial world shrinks on a regular basis, because banks buy other banks, and then they buy even more banks. Citigroup for example is a conglomerate of what used to be a number of smaller, mostly regional banks and financial institutions. These mega-banks were hit particularly hard by the housing crisis, because the money from those mortgages was spread all over the world, and so were the banks. So, Citigroup, Bank of America, Wells Fargo, Wachovia, JPMorgan Chase and others have a very vested interest in what solutions are offered for the real estate crunch.
One of the biggest areas of interest (or concern) is Obama’s loan modification plan, which helps homeowners in financial distress get loan modifications more easily. One of the banks, Citi, believes the approach to loan modifications under Obama’s Homeowner Affordability and Stability Plan will keep borrowers in their homes, forestall foreclosures and stabilize neighborhoods around the world.
Citi was hit so hard by the financial crisis that the federal government will eventually wind up owning around 34% of the troubled bank according to some estimates. They are tied so tightly to the bad mortgages floating around that they are in desperate need of a solution for homeowners. Loan modifications have already been a blessing to countless families, in California and elsewhere, for years. California loan modifications help people stay in their homes by giving them lower monthly payments.
Citi has even tried to launch their owned “distressed homeowner” plans to help those who own mortgages through one of their lending arms. While the attempt is interesting, having a California loan modification attorney, such as those at the Feldman Law Center, working on your behalf is a better option. In the end, the bank will only be looking to get the best deal they can get for themselves, but a loan modification attorney will look for the best deal he or she can get for you.
Citi has approximately 200 million customer accounts in over 140 countries. To them, you are just a social security number. They have never been to your house and they do not care if you are uncomfortable with your deal. A loan modification attorney will work with you, will most likely sit down with you to discuss your options, and will be a human being and not a global financial institution. You need someone who will fight on your behalf to get the best possible terms for your home loan modification.
A loan modification lowers your monthly mortgage payments by renegotiating the terms of your mortgage loan. You could end up with a lower interest rate, a fixed interest rate instead of an adjustable one, a principal reduction, elimination of late fees or some combination of a number of other options. California loan modifications are nothing new, but they have grown in popularity as the housing crisis has really begun to hammer the finances of some individuals. Contacting a California loan modification attorney today could keep you in your house and away from foreclosure.
Visit Feldman Law Center at http://www.feldmanlawcenter.com or call 800-588-0425.
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The information contained herein is provided for general information and advertising purposes only and is not intended to convey a legal option nor legal advice for any particular case or situation. Nothing in this article shall create an attorney-client relationship. Nothing sent to this law office via e-mail shall constitute an attorney-client relationship. Nothing contained in this article shall be construed to be a guarantee or prediction of result. Prior results are provided for general information purposes only and do not guaranty, warranty or predict a similar outcome with respect to any future matter. Results achieved depend on individual circumstances and not everyone will qualify or be successful in restructuring their mortgage loan.