How do I avoid foreclosure on my Citi mortgage?

To achieve City mortgage foreclosure avoid, there are a few steps you can take. Citi Mortgage is not going to foreclose on your home if they do not absolutely have to, as foreclosure is a problem for the bank just as it is a problem for the home owner. Banks do not want to foreclose on a home both because they do not want to have to go through the hassle of selling the house, and because in a down market they may not be able to recoup the full amount of their losses if they do foreclose. As such, if they can find an alternative to foreclosure for you, they will generally offer it. 

Common alternatives to foreclosure include:

• A short sale. This would involve you finding a buyer for the home who makes you an offer below the dollar amount you owe. You would need to contact Citi Mortgage and arrange for them to agree to the short sale. The buyer would buy the house as is, and the money would all go to the bank. You'd lose the house, but a short sale has less of an adverse impact on your credit than a foreclosure does and you would also avoid the risk of a deficiency judgment being brought against you
• Deed in lieu of foreclosure. This involves you turning over the deed of the house without Citi taking legal action against you. This is a better alternative to foreclosure because the bank saves on legal fees and again you avoid the risk of a deficiency judgment. 
• There may also be an option to renegotiate your Citi mortgage, refinance it, or even put it into deferment for a limited period of time. This will depend on your lender's willingness to take these steps. 

If you want to avoid foreclosure on a Citi mortgage, the best thing to do is contact a lawyer who specializes in foreclosure and who can provide you with assistance.