CitiMortgage today announced the launch of its proprietary 2012 Road to Recovery Tour featuring homeowner support events in thirty-five cities across the country beginning April 24. At Road to Recovery events, Citi’s Homeowner Support Travel Team, featuring Citi’s mortgage assistance experts, consults one-on-one with local CitiMortgage customers in need of assistance with their mortgages.
“Since 2007, Citi has helped more than 1.1 million homeowners in their efforts to avoid potential foreclosure. Based on our successful 2011 Road to Recovery tour, we are pleased to expand to 35 markets in 2012 as part of our commitment to helping borrowers stay in their homes,” said Sanjiv Das, CEO of CitiMortgage. “At these events around the country we are able to meet with homeowners face-to-face and engage with them directly to explore solutions for their particular circumstances.”
In 2011, Citi held its first Road to Recovery tour, hosting twenty-five homeowner assistance events across the nation. Citi had previously been unable to establish contact through conventional channels with many of the more than 2,300 homeowners who attended the events. Almost 90 percent of attendees were at least 60 days behind on their mortgage payments and almost a third were already in the foreclosure process. Through consultations with Citi’s mortgage experts, however, approximately two-thirds of those customers discovered they qualified for a mortgage modification or another type of solution. Following their participation, ninety-six percent of attendees rated the overall value of the event as “Good” or “Excellent.”
Whether borrowers have missed multiple payments or believe they may miss payments in the future, they are encouraged to attend. At the event, they will be able to speak with Citi’s Homeowner Support specialists to discuss potential options based on the borrower’s individual situation.
The free events are open to all CitiMortgage homeowners and offer one-to-one counseling in private, curtained-off settings in which borrowers facing challenges can ask any question about their mortgages and obtain information about their options. The first phase of the 2012 Road to Recovery Tour will take place in April and May and will include the following cities:
• Orlando, FL
• Fort Lauderdale, FL
• Tampa/St. Petersburg, FL
• Jacksonville, FL
• Cincinnati, OH
• Columbus, OH
• San Diego, CA
• Riverside, CA
• Los Angeles, CA
• Cleveland, OH
Additional Road to Recovery events this year will be announced in the coming months.
The Citi Homeowner Support Travel Team, part of Citi’s Office of Homeownership Preservation, also participates in many additional non-proprietary events, working with government, non-profits, municipalities and other organizations to meet with and help homeowners. In all, Citi homeowner assistance experts attended 168 events in 2011 and met with approximately 11,000 homeowners in need of assistance during the year.
CitiMortgage participates in a variety of government programs including Home Affordable Modification Program (HAMP), Home Affordable Refinance Program (HARP), the Hardest Hit Fund Program and the National Mortgage Servicing Settlement.
CitiMortgage has developed and implemented a variety of its own programs to assist our at-risk borrowers since the economic crises began. These include the Citi Homeowner Assistance Program which includes a series of initiatives designed to proactively help potentially distressed homeowners remain in their homes; the Citi Unemployment Assist Program, which serves to bridge to longer-term solutions for certain qualifying recently unemployed and delinquent borrowers with Citi-owned mortgages. Last year, Citi introduced its Disabled Veterans Mortgage Relief Program offering qualifying veterans wounded in the line of duty to make reduced payments on their Citi-owned mortgages. For those borrowers who face severe hardship, Citi also has dedicated Short Sale and Deed-in-Lieu teams, which offer a number of customizable solutions to homeowners.
For information, or for those who are unable to attend the event but would like assistance, customers may call 1-866-915-9417. Information is also available at www.citiroadtorecovery.com; http://blog.citimortgage.com and https://www.homeownersupport.com
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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