Citi Bank: Mortgage break to unemployed.
The bank will lower mortgage payments for three months and waive fees for certain unemployed borrowers.
NEW YORK (CNNMoney.com) — Unemployed homeowners whose houses are financed by CitiMortgage may be eligible to have their mortgages temporarily reduced to $500 a month, the company announced Tuesday.
“We’re planning to help recently unemployed homeowners by giving them the ability to pay as little as $500 a month on their mortgage, which is effectively less than the price of an average one-bedroom rental nationally,” Sanjiv Das, CitiMortgage’s president and CEO, told CNN Radio. More Info
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