CitiMortgage (C) introduced its Citi Military PCS (permanent change of station) transfer assistance program Thursday to help service members who end up stuck with existing mortgages while moving bases.
The program allows qualifying servicemembers to reduce their CitiMortgage-owned first mortgage payments on a temporary basis. Qualifying members will see their payments reduced as much as $250 or down to their escrow payment for a six-month period. The program is designed to help military members who are assigned to new stations while struggling to sell old properties.
In addition, CitiMortgage launched its 2012 Citi Military Road to Recovery Tour Thursday. The tour will bring homeowner-aid events to bases around the country. Five separate events are already planned.
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