CitiMortgage Loss Mitigation, Citibank Loss Mitigation Department

CitiMortgage Loss Mitigation Department, which is also known as CitiMortgage Workable Solutions Department, provides refinancing or loan modification solutions to help homeowners pay mortgages and avoid foreclosures. The existence of this department is an indication of Citibank’s willingness to assist people with bad credit rating and those having problems in repayment of mortgages or who are underwater in their current home loans.


It is indeed a fact that banks and financial institutions do not like foreclosures as they find it difficult to sell foreclosed homes and often the money they would get after selling one is just not sufficient to pay for the loan balance, unpaid interest and legal expenses they have incurred so far.

CitiMortgage Loss Mitigation Department

CitiMortgage Loss Mitigation Department is a group of people who specialize in providing solutions to troubled homeowners. The department automatically sends the Workable Solutions package to homeowners who are 60 days behind their payments. The objective of sending the paperwork is to ask you the reason why it is not possible for you to pay mortgages according to the amortization schedule.


You will be asked to complete the Workable Solutions Application form and send it along with verification of income and expenses (such as current pay stub, P/L statement, or other documentation) and a hardship letter explaining your present financial condition. A loss mitigation representative will be assigned to your case once you have submitted the completed workable solutions application forms.


Try to keep in contact with this representative even though it is hard to reach them via phone. Work together to explore various options and to come out with an amicable solution. You may consider either spreading the back payments over a definite number of future payments or spreading the overdue amount over the balance of the loan.


Moreover, you can also request a Forbearance which will allow you to have a short break before you can resume making payments again. Other possibilities include loan modification with lower interest rate option and applying for a refinance loan, though it is unlikely that Citibank would consider your request in this regard.