CITI Mortgage to the Rescue
I’ve not been blogging much… who’s got time for this, anyway?
Who are these people that can post every single day?
Anyway, CITI Mortgage is “unveiling” a “foreclosure avoidance” program.
Quick details:
- They’ll pay a “minimum” $1,000 in relocation costs (WOW!)
- Borrowers must attend BI-MONTHLY meetings with relocation specialists
- Borrowers must maintain the property (whatever that means)
- Borrowers may occupy their property for an additional six months
All they have to do is give up their deed to CITI.
Hey- thanks, guys!
FACT: In a one-hour consultation, I can show a borrower how to occupy their home for MUCH longer than CITI’s offering here.
$1,000? Chump change. More can be gotten with very little effort and WITHOUT this plan.
I love these programs that are hailed as “new” and “innovative.”
There’s always some euphemistic title as well- much like Obama’s “Making Home Affordable” plan.
“Affordable.” Who are you kidding?
They’re more often “new” and “innovative” ways of pretending to help homeowners and getting them to give up their rights and keeping them in the dark about better options.
These programs are not designed primarily to help homeowners. They’re designed to have the APPEARANCE that they’re offering foreclosure assistance while at the same time ACTUALLY benefiting the LENDER and the INVESTOR.
Let’s get real- the job of the servicer is to collect a debt- not help you solve your financial problems.
Bottom line: Any time you’re offered “assistance” from someone you owe money to that you can never repay, you can be sure that there are better alternatives out there.
All you need to know is who(m) to ask.
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