Citimortgage Foreclosure Process - Get Them and Stop the Foreclosures Easily

March 19, 2011 - PRLog -- Citimortgage Foreclosure Process

Ways to avoid the foreclosure

Avoiding the foreclosure can be done by means of several ways. You need to decide which solution best suits your current financial situation. Allowing the foreclosure to happen results in two major disadvantages: you will lose the home and the credit report will look bad. Lenders would most likely reject your loan application after looking at the presence of foreclosure in the credit report. Even if you get approved for a loan from the poor credit lenders, you will only be given a high interest loan. So in order to avoid getting the high interest loans, you should stop the foreclosure.

Citimortgage workable solutions

If you fail to make mortgage payments for about two months, you will automatically be given the Citimortgage workable solutions which needs to be filled by you. You will be required to fill two items: you must fill the hardships which have led to missed payments and you should also give solutions to your current financial hardships. Some of the solutions that you can expect from the lenders are: Get Internet #1 - Citimortgage Foreclosure Process @ http://realestatecure01.webs.com and change your financial life forever!

   * reducing the interest rate - this will most likely be difficult to obtain from the lenders,
   * mortgage forbearance-by means of the forbearance, you can stop the mortgage payments for a few months. So you can start paying again once the hardships die,
   * mortgage refinancing.

After making sure that all required fields are filled properly in the form, submit it to the loss mitigators. There are two main reasons for the lender to reject your application. They are:

  1. Not being honest - if you provide false reasons and if the lender finds it after cross checking, you are most likely to get rejected. Situations will get worse after this stage,
  2. Not submitting required documents - If you submit the proof like the income statements, you will be increasing the chances of approval. Get Internet #1 - Citimortgage Foreclosure Process @ http://realestatecure01.webs.com and change your financial life forever!

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