Citi Bank House Foreclosure

If you’re struggling to meet your monthly mortgage payments or are worried about foreclosure, you have options to consider before deciding on a course of action.

The following will provide you with an overview of solutions for your consideration. These are all options we can help you with for no charge. If you fill out the form or call us at 512.271.5044 we can help you determine which solutions are best for you, and also help you take the necessary steps at that point. We work with several government agencies and never charge for our services.

Short Sale

If selling your home is one solution you’re considering, discuss a possible short sale with your mortgage lender. Sometimes you can sell your home quickly for a lesser amount that what the pay-off on your loan is, and your lender will accept this lesser amount as payment in full (or partial) for your mortgage.

For example, if you owe the bank $100,000 on your mortgage and are at risk of foreclosure, the bank might agree to let you sell your home for $90,000 and call the mortgage paid in full at that point.

A short sale has a couple of advantages to foreclosure. It allows you to paying off your mortgage for less than what you owe, which helps you avoid foreclosure. Also, listing your house at a competitive price means it will sell quickly.

Contact your mortgage servicer or Save My Texas Home to see if you are eligible for a short sale.

Deed in Lieu

If other options like a short sale or deferment don’t work out and you’re still open to selling your home, you can request a Deed in Lieu from your mortgage lender. This simply means you are voluntarily signing over ownership of your home to your mortgage company in lieu of foreclosure. Your mortgage lender then releases you from your mortgage payments and assumes ownership of your home.

Work with your mortgage company or Save My Texas Home to complete a Deed in Lieu of foreclosure.

HAFA Program

The federal government offers the Home Affordable Foreclosure Alternatives (HAFA) Program for people facing foreclosure. If your mortgage service is a participating party in the HAFA Program, the federal government offers incentives so that you can avoid foreclosure by either a short sale or a deed in lieu. In addition to helping you avoid foreclosure through these two options, you are potentially eligible to receive up to $10,000 to assist you in relocating.


You can minimize the effects of a foreclosure by working closely with a Citi Bank Homeowner Support Specialist. There are steps your Specialists will guide you through to help you navigate the system and find the best solution for you.

It’s important to continue to communicate with your Citi Bank Homeowner Support Specialist through the end of the process. There may be scam artists who try to take advantage of you during this trying time, and Save My Texas Home, or your Specialist at Citi Bank can help you avoid falling into a trap.


There are several things for you to think about as you begin this process, and it’s in your best interests to contact a Citi Bank Homeowner Support Specialist such as Save My Texas Home as soon as possible to discuss your options and determine the best course of action that will provide a satisfactory solution.

Leave a Reply

Your email address will not be published. Required fields are marked *