Citigroup, Inc., offers $20 billion in mortgage modification to homeowners

November 11, 2008, West Palm Beach, FL (JusticeNewsFlash.com)–Top news story–Citigroup, Inc., a New York based company, offers to modify terms on $20 billion in mortgages. The mortgage modification program will be offered to borrowers who are making their payments but are in danger of falling behind. Citigroup (NYSE:C) asserts about 130,000 consumers will see lower mortgages and this includes mortgage holders in good credit standing with prime and subprime loans. Customers with mortgage payments equal to more than 40 percent of their income are the only homeowners who will benefit.

Bank of America Corp. (NYSE:BAC) and JPMorgan Chase & Co. (NYSE:JPM) of New York and now Citigroup are all offering loan modificaiton programs in response to the financial fallout. The Federal Deposit Insurance Corporation (FDIC) took over IndyMac Bancorp in July and is also extending help to homeowners with mortgages held with this lender as well.

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About the Author Justice Seeker

Heather L. Ryan, R.N., C.L.N.C- Heather Ryan is a Certified Legal Nurse Consultant with 15 years of experience in the health care industry. Her expertise in reviewing medical records and assisting lawyers with the determination as to whether legal action should be taken provides an invaluable asset to the newsroom. Medical-malpractice, products liability, personal injury and workers’ compensation are some of the recent areas of litigation Ms. Ryan has focused her efforts on. A member of the Florida Justice Association, Heather maintains a long list of certifications and credentials to support her areas of expertise and stays up-to-date with her clinical knowledge working as an emergency room/trauma nurse, at a Level 1, Adult/Pediatric trauma and teaching institution in South Florida.