CitiMortgage claims that 65% of the attendees at the first four stops of its ‘Road to Recovery’ tour qualified for a loan modification program.
The company said that 95% of the attendees in the Baltimore, Orlando, Cleveland and Atlanta sessions were 60 days or more delinquent on their mortgage payments, with 50% already in the foreclosure process.
The remaining stops on this consumer-centric tour include Tuesday in Los Angeles; Thursday in Las Vegas; June 1 in Miami; June 7 in Detroit; June 10 in Phoenix; and June 14 at a location to-be-determined.
These sessions are open to all mortgagors who are having difficulty making their loan payments, including those who are not CitiMortgage customers.
Besides modifications, consumers can discuss other options to resolve their problems, such as short sales and deed-in-lieu transactions.
