Citigroup is going to be expanded their FDIC Loan Modification Program after pressure from the FDIC. The current Citigroup loan modification program was not doing enough to curb foreclosures and help real homeowners.
The Old Citigroup Loan Modification Program
Previously, the loan modification program offered by Citigroup was limited only to homeowners who were 60 days past due, but now with the new FDIC pressure, Citigroup is going to be using the government’s “mod-in-a-box” program with all homes, regardless if they are past due, which should increase the likelihood of foreclosure by …