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Thursday, July 15, 2010

Citigroup Loan Modification - What Citigroup Can and Cannot Do

Are you behind on your home mortgage with Citigroup? If so, this is certainly a stressful time for you and your family. The uncertainty and stress seem to take over your everyday life while you try to work out a solution. You may have heard about President Obama's Making Home Affordable Program. If you qualify, could you get a Citigroup Loan Modification through this government program?

The MHA program has been in existence since February 2009, and it will expire on December 31, 2012. During that period, it is estimated that 3-4 million people will have gotten loan modifications and saved their homes from foreclosure. Over a million people have already saved an average of over $500.00 a month on their monthly house payments.

Fortunately, Citigroup is participating in the program; they are on the approved lender list. If you meet the application guidelines of the government program, you can apply. You will apply directly to Citigroup. There is no governmental agency where you apply, although the Department of Housing and Urban Development (HUD) can assist you with counseling, if needed.

Citigroup can work out your mortgage problems through this program. They will receive a $1000 incentive for completing this mortgage modification for you. The loss mitigation department at Citigroup does have the final approval authority, but they have the ability to do this loan modification for qualified applicants.

They are obligated to forgive your late fees and penalties when they rewrite your mortgage through this program. They also must consider your eligibility for a Citigroup Loan Modification through the Making Home Affordable Program before they begin any foreclosure proceedings.

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primerica division of citigroup reviw

Company Background:

Primerica Division of Citigroup,was founded in 1977 by Arthur L. Williams, Jr. as A.L. Williams & Associates. The company established a niche market by marketing the concept of "Buy Term and Invest the Difference." There goal was to encourage middle-income families to buy affordable term life insurance so they could have more money to invest in their family's future.

In 1991, Primerica Corporation changed the name of A.L. Williams to Primerica Financial Services, and in 1998, Travelers Group and banking giant Citicorp merged creating Citigroup. Primerica and its affiliates continued to operate as subsidiaries of Citigroup, although the Travelers insurance business was spun off in 2002.

Products:

Term Life Insurance, Auto Insurance, Homeowners Insurance, Mutual Funds, second-mortgage and personal loans

Business Opportunity and Compensation Plan:

As the Primerica Division of Citigroup representative, the income level that they achieve varies based upon the licenses obtained, and the amount of commission-based business written in the field, as well as the size and activity of the agent's organization. The time that it takes to get trained and licensed for Primerica Division of Citigroup products may prevent the kind of fast organizational growth that has taken place with many network marketing companies; however, Primerica attracts more serious networkers and more people with professional backgrounds.

Entering Primerica costs $199, which is reimbursable upon passing a licensing exam, since life insurance licensing is a required element of the business opportunity. The commission on a sale of term life insurance is 25%. The representative who closes that sale gets the bulk of the commission but has to split the rest among people in their upline. As with any business structured around multi-level marketing, you are paid commissions based on your sales level.

If you're seeking an internet business, you won't find it in Primerica, yet. Those looking for complete details will need to contact a Primerica Personal Financial Analyst directly for a one-on-one presentation, which is usually conducted in-home or in-office.

If you're seriously considering a Primerica business opportunity, take inventory of your "warm market", family and friends, since Primerica Division of Citigroup recommends that these people become your first prospects when trying to build your business. Primerica Division of Citigroup recommends that you have 8 new kitchen table appointments per week to grow your business.