Citigroup to help customers with mortgages, is based on income

Announced on November 12th, Citigroup Inc. said it will offer to modify terms on up to $20 billion in mortgages. The program will be extended to borrowers who are making their payments but are in danger of falling behind. It includes subprime borrowers as well as those with good credit who took out prime loans. The program is limited to customers whose mortgage payments equal more than 40 percent of their income.