Deferment, also called forbearance, can help give you time to get back on your feet during short-term financial difficulty.
A deferment allows your lender to lower your monthly mortgage payments for a set time period. Your lender decides how long the deferment period will be, how much your reduced payments will be, and how you'll pay the deferred amount.
Once the deferment period ends, you can pay back the deferment amount by making 1 lump-sum payment or by adding the monthly payments to the end of your mortgage term.
You could qualify for a deferment if:
Contact Citi if you think deferment could help your situation.
Have the following information ready to help speed up the process: