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Loan Modification

: The Truth About Mortgage.com

Citi: Workouts Outnumbered Foreclosures by 10 to 1 in First Quarter

By scot184

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Troubled bank and mortgage lender Citibank said today that loss mitigation efforts exceeded completed foreclosures by 10-to-1 during the first quarter. Additionally, the bank said it helped more than 80,000 borrowers avoid foreclosure in the first quarter alone. Since the housing crisis began in 2007, the New York-based bank has worked with 520,000 homeowners to avoid ?potential [...]

Full post as published by The Truth About Mortgage.com on May 12, 2009 (boomark / email).

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