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CitiMortgage Road to Recovery Tour continues.

September 13, 2011
Sanjiv Das, CEO, CitiMortgage

On Wednesday, CitiMortgage launches an autumn phase of our Road to Recovery Tour with an event in Portland, Oregon aiming to raise awareness of distressed homeowners to the assistance available to them. It continues through November, hitting 15 cities nationwide, seeking to connect struggling borrowers with mortgage assistance and foreclosure prevention experts to provide information and discuss options. This phase of the tour also recently added dates in the Eastern U.S. to include areas hard hit by Hurricane Irene and its aftermath in recognition of the very immediate need to help homeowners cope with weather-related issues.

The Road to Recovery Tour events offer one-to-one counseling in private, curtained-off settings in which borrowers facing setbacks can ask any question about their mortgages and obtain information on options. There is no charge or obligation and the event is open to any homeowner seeking help, whether a CitiMortgage client or not.

The upcoming CitiMortgage Road to Recovery events are:

  • Portland, OR September 14
  • Riverside/San Bernardino, CA September 20
  • Norfolk, VA September 30
  • Philadelphia, PA October 3
  • Nassau-Suffolk, NY October 12
  • Chicago, IL October 14 - 15
  • Washington, DC October 18
  • Denver, CO October 21
  • Columbus, OH October 25
  • Miami, FL October 27
  • Tampa/St. Petersburg, FL November 1
  • Jacksonville, FL November 3
  • Minneapolis, MN November 8
  • Houston, TX November 15
  • St. Louis, MO November 17

In the initial phase of the tour this spring, CitiMortgage was able to connect approximately 1,000 homeowners having or anticipating difficulty making mortgage payments with assistance experts. In this outreach, we determined that 58 percent of attendees qualified for loan modification programs, including many who were already in late stages of delinquency.

These local, in-person events are an important part of our efforts around foreclosure prevention, enabling us to reach borrowers with crucial information about the assistance available to them. We have been encouraged the response. In an exit survey of attendees, 96 percent rated the sessions as excellent or good and 97 percent said they were likely or very likely recommend them to a friend. The events also drew many of what we call "first-time responders" taking steps to initiate this important dialogue.

From 2007 to 2010, Citi has worked with more than 1.1 homeowners on loan modifications, extensions, and repayment plans as well as foreclosure alternatives such as short sales and deed-in-lieu programs. We remain focused on helping people resolve their mortgage issues and pushing forward economic recovery.

Details about time and place for these events can be found at www.citiroadtorecovery.com. For those who are unable to attend events, but would like assistance, we are available by calling 1-866-915-9417 or by visiting blog.citimortgage.com.

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