CitiMortgage Launches Program for Distressed Homeowners

Roy Oppenheim Tells SFBJ: It’s a Year Late!

Oppenheim Law has been arguing for creative and practical solutions that benefit banks and homeowners alike for more than two years. Finally, while curiously late into the game, CitiMortgage announces a trial deed-in-lieu mortgage program allowing homeowners to avoid the painful foreclosure process.

The deed-in-lieu program allows Florida homeowners facing foreclosure to remain in their homes for 6 months, in exchange for signing over their deeds to CitiMortgage at the end of the period.

Check out Roy Oppenheim’s opinion on the CitiMortgage announcement by reading the entire article in the Oppenheim Law News Room.

Tags: CitiMortgage, Deed in Lieu, Oppenheim Law, Oppenheim Law News Room, Roy Oppenheim, South Florida Business Journal

This entry was posted on Friday, February 12th, 2010 at 11:38 am and is filed under Deed in Lieu, Florida foreclosures, Florida Law News, Florida real estate, Foreclosure Defense, Roy Oppenheim, South Florida Business Journal. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Debra

FINALLY !!! Right now I wish my loan was with them. Roy, please keep us informed if anyother banks follow suit !!!!!
Lisa Sadowski

Dear Mr. Oppenheimer,

Thank you for your article regarding CitiMortgage’s deed in lieu program. I have a QUESTION for you. Does this program apply to those who have a property as a second home or investment property? Also, do you think that other banks like Bank of America (Countrywide formerly) will follow suit? Thanks for all your hard work in trying to help those of us facing foreclosures.