Citibank is a trusted and experienced bank having been the First National City Bank of New York. Their services are broad and caters to all financial needs. Not only is Citibank professional and efficient, moreover they take special interest in caring for their clients. This has been demonstrated by their efforts to help homeowners under financial strain, avoid foreclosure. Under the current Covid 19 circumstances, many are struggling to cope with their financial commitments, while unemployment continues to climb. Citibank has therefore developed a homeowner assistance program specifically designed to help at risk borrowers remain in their homes.
Citibank is not new to the concept. Since 2007, they have helped approximately 370,000 families avoid foreclosure. Beginning now, the homeowner assistance program will select a group of 500,000 homeowners who are not currently behind on payments but may require assistance to remain up to date on their payments. The idea is to focus on clients in areas that are more likely to face economic distress and unemployment. Citi will extend foreclosure moratorium practice, meaning they will systematically choose when to avoid initiating a foreclosure, based on the circumstances.
The 500,000 will be selected and reached out to by a trained team of debt relief counselors. They will review the customers portfolios and attempt to make contact via correspondence, email, toll-free assistance lines, online social networks, and external counselors. Citi will do their best to assist these homeowners by providing them with the best possible solutions. Their desire is to keep their customers financially stable during these uncertain times while working toward the goal of maintaining the borrowers credit score for future use. It is evident that Citibank puts a great deal of effort and energy in keeping an honest relationship with their customers.
Citibank is well experienced in preventing foreclosure and financial turmoil from damaging their customers credit scores. Many understand how scary and disadvantaging debt can be and having a bank well knowledgeable and skillful in debt relief is very comforting. Mike Corbat, the CEO of Citi says, “The coronavirus outbreak has challenged us all to deepen our commitment to serving our customers and clients by delivering our full capabilities and unparalleled global network via quality advice, products and solutions.” The evidence of Citibank’s dedication is clear.
Despite the pandemic, Citibank has continued to provide all their usual services, going above and beyond expectation. Services to make enquiries about the home loan assistance program, are available. It is recommended you use the mobile app, as there are high call volumes and should you use the helpline, a longer waiting time than normal is expected. The helpline available is 1-800-248-4674 from 9 am to 7 pm (GMT-4) from Monday to Saturday, except on national holidays. The mobile app is available to download on the Citibank website. The FAQs section may also answer any questions without having to wait on any response. There is also a facility on the website to make an appointment to visit one of their branches.