Citibank Mortgage Modifications - Hope For Citibank Homeowners

Citibank Mortgage Modifications - Hope For Citibank Homeowners

since a lot of credit card companies are cutting credit limits to their consumers ( among thesee are citibank, american express and fidelity) should consumers fight back? first they pull up interest rates to the sky, then they cust your limit to a 100% of what you owe, lowering credit score and making you to be unattractive to creditors. so by doing this they will encourage another lenders to cut your credit and soon you will owe 100% of your limit that will make impossible for you to refinance your house or get a vehicle or furniture or home improvement loan

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In the past there was no hope for Citibank borrowers who needed a loan modification. After the introduction of a new government program, Citibank is now willing to work with its customers.

It was almost impossible to get a home loan modification at Citibank until recently. A homeowner who had a mortgage with Citibank who could not meet their obligations had no choice except foreclosure. Now, due to new incentives offered to lenders who participate in a government program, they are willing to work with homeowners to help them keep their homes.

Citibank will now be able to help about half a million homeowners. Unlike some other banks, they are negotiating with homeowners who are facing foreclosure as well as homeowners whose credit score is falling or who are experiencing hardship due to trouble financial times.

In addition to offering assistance to a broader range of homeowners, Citibank has made the process of applying or getting information easier.

No longer will homeowners have to pay telephone tag with many lenders who, in the end, are not willing to help them.

With a Citibank mortgage modification involves a reduction in interest rates, a longer mortgage term of up to 30 years and deferred principal. The almost guaranteed deference of principal is great for homeowners who have had their property values drop.

As with any program, the homeowner should find out exactly what Citibank's requirements are. Even though they are earning a reputation as one of the country's easiest lender to work with, they have strict guidelines than must be followed. Phoning the loan department or doing an online search can locate this information.

Citibank will look at your credit, any bankruptcies, the value of the property, the debt to income ratio and any late mortgage payments in order to decide if a borrower qualifies for a modification.

They are lenient regarding late mortgage payments. Late payments are not a requirement, but it does help the cause. A perfect credit score is not required as Citibank is willing to work with homeowners who have failing credit scores.

A homeowner will need to fill out an application and submit a hardship letter outlining the reasons for needing a loan modification in order to begin the process. Both the application and the letter are important and vital parts of the process. Even though Citibank is more lenient than its competitors, homeowners must still follow the same process in order to receive a modification.

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Question by : Is this email authentic or a scam? i got this email just before, and im a bit skeptical as to its realness lol. here's the email bellow. Citi Logo LONDON 332 OXFORD STREET, LONDON W1C 1JF. Direct Tel: +44 703 596 7886 Direct Fax: +44 707 505 5880 Dear Customer, ACKNOW LEDGMENT INFORMATION REQUIRED You are welcome to Citi Bank London. The payment Bank for British Tobacco Company. We are pleased to be at your service. We are Regulated and Stipulated by the Financial Service Authority (FSA), the financial institutions that govern all financial activities in the United Kingdom. After receiving confirmation from the British Tobacco Company that you are one of the PROMO WINNERS, we are presenting you with the following options with which you would prefare to receive your winning funds of £1,000,000.00 (One million pounds Sterling Only) in our possession. You are to make your preferred and affordable choice from the options listed below for us to remit your funds to you in your country. Citibank London Options FIRST OPTION NEW ACCOUNT SETUP: You will have to open a new Bank account with this bank (CitiBank London) and it will be registered for International Transfer and note that you can make transfer online which will take 24hours to get the local account in your country. After the Opening of an account, an account will be activated and the logins forwarded to you which enables you login and have access into your account online via our website and you can carry on with the transfer of your funds to any designated account number you deem fit. Note that Your account opening fee will be added to your account balance. Account Opening Fee:..................£25 V.A.T:......................................£50 Bank commission:........................£40 Insurance:..................................£50 Total:....................................... £165 (One hundred And Sixty Five Pounds Only). SECOND OPTION Dispatch Of An ATM CARD: You shall receive an ATM CARD which your winning prize has already been credited into. Once this Card is given to you, the funds can then be withdrawn in any bank in your country. However a courier company which is also an affiliate to the British Tobacco Company, will deliver the ATM CARD TO YOU AT YOUR DOOR STEP. Max Delivery Duration.....................................24Hrs Mailing/freight cost ........................................£30 Handling Fee...................................................£40 Insurance.......................................................£50 Vat.................................................................£40 Total:....................................... £160 (One hundred And Sixty Pounds Only). THIRD OPTION BANK TO BANK TRANSFER: This is the Direct Bank Transfer that will enable you receive your money in any account that you will provide for this Bank to effect the transfer of your winning funds as it is always done electronically and it will take 3 WORKING DAYS to reflect in the account that you shall provide. Bank Commission:...........£20 Pounds Sterling V.A.T:.............................£75 Pounds Sterling Insurance:......................£100 Pounds Sterling Total:....................................... £195 (One hundred And Ninty Five Pounds Only). FOURTH OPTION CERTIFIED CHEQUE DELIVERY: You shall receive a Certified Cheque and approved Clearance Documents and this will take 2 working days to be delivered to your house address that you shall provide. The Cheque will be delivered via THE COURIER which is also affiliated to the British Tobacco Company. Max Delivery Duration.....................................48Hrs Mailing/freight cost ........................................£60 Handling Fee...................................................£50 Insurance.......................................................£50 Vat.................................................................£60 Total:....................................... £220 (Two hundred And Twenty Pounds Only). Please respond to this email by making a selection from the options above. Citibank London, is committed to rendering qualitative services to you, Also you are advice to send us a scanned copy of your driver's license or your international passport for proof of identity. So if you are ready to make the payment for any of the OPTIONS above, you are expected to notify this office with the specific option so that we can provide you with the payment details. Your urgent reply will be most welcome. We look forward to serving you better Best Regards, Mr. Kevin Kessinger. Chief Operation Officer. For: Citi Bank Copyright © 2010. All rights reserved. Thanks F Best answer for Is this email authentic or a scam?:

Answer by LARA
Scam

Answer by Kittysue
Scam for so many reasons 1 - any number starting with +44 70xx is NOT a UK business line, it's an international redirect number that forwards your call to any phone anywhere in the world, usually used by 419 scammers as you cannot track where your call is actually being answered http://www.joewein.net/blog/2009/11/08/dial-44-70-uk-numbers-for-international-fraudsters/ 2 - The real bank is Citibank (one word), not Citi Bank - and they use both spellings. No real company would make that mistake 3 - All transfer fees are paid by the sender, not the receiver 4 - British Tobacco doesn't have any promos, lottos or prize draws 5 - If you are a prize/lottery winner, you never pay any upfront fees. All taxes, etc are taken out of the winning amount, not sent by you 6 - ATM card is a total scam, no prize would ever issue an ATM card 7 - you would never have to open a new bank account for a real prize win, and it's free to open a bank account in the UK, there is no opening fee or bank commission

Answer by U_S_S_Enterprise
Scam. There are NO online lotteries.

Answer by ❶Wife
What a waste a scam for sure.

Answer by brian 2010
Scam!!!!! That message is both a fake and an outright fraud. Don't contact the phishers and give them any of your personal information at all. Spam that scam message straight into oblivion right away. This is one lottery you'll never win because it's "bogus." Another thing, the phishers telling you to "keep this lottery information confidential" would indicate to you not to say anything about this to anybody until they have finished scamming you.

Answer by Lyn G
Well, Adrian, did you enter that lottery, you know buy a ticket????? No??? You can not win something you did not enter or play. Besides Yahoo, Hotmail, Gmail, Microsoft, MSN and Aol do not have lotteries, reward programs, promotions, or contests. Yes, not a British Tobacco Company promotion, either. When an E-mail offer sounds too good to be true, then it is definitely not true. It is a scam to get your personal information and/or your money, or both! Do not respond to it. Report it, forward it to the FTC at spam@uce.gov and to the abuse desk of the sender's ISP. For yahoo, report them here: http://help.yahoo.com/l/us/yahoo/mail/ya… Choose Fraud as the reason for the violation you're reporting on. Also, if the E-mail appears to be impersonating a bank or other company or organization, forward the message to the actual organization.

Answer by Sophia
This is a genuine scam. Answer the following question: 1. Did you ever join this promotion or contest? 2. Did you gave any of your contact information? 3. Have you contacted them?

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