Citigroup announced two programs Thursday aimed at helping current and former members of the military with their mortgages.
CitiMortgage introduced a reduced mortgage payment program for qualifying servicemembers who have to permanently relocate and need immediate financial relief.
The program will reduce eligible military borrowers’ first mortgage payments for six months. Eligible homeowners are required to verify their permanent change of station orders but do not have to provide evidence of financial hardship, and the loans can be current or delinquent.
The bank also will hold five events near military bases so servicemembers struggling to make their mortgage payments can meet one-on-one with a housing counselor. The first event will take place in San Diego on June 29 and will be followed by events in Columbia, S.C., Norfolk, Va. and San Antonio.