Those who have gone through the pains and tortures of foreclosure proceedings would definitely agree when I say that undergoing the process of foreclosure is something that everyone should try to avoid at all costs! If you are already caught up in the mess, don't worry as there are plenty of effective measures and ways out there that could help you overcome the problem successfully. One of the most popular is the mortgage refinance option, one that would allow you to completely refinance your home loan to allow for lower interest rates, which means lower monthly commitments and probably a longer duration as well that would help you cope with the loan better.

As the economy suffered in recent years, Citimortgage and Citibank also suffered some losses. These losses were due to homeowners that were unable to make their mortgage payments and went into foreclosure, greatly reducing Citibank's profits. Because of these poor conditions, Citi is now offering qualified borrowers the option of modifying their loan, in order to make it more affordable. This will not only help a large number of borrowers, but help Citi earn incentives each time a borrow goes through the modification process.