Loan Modification Forum - LoanSafe.org - View Single Post

frustratedinphoenix · 07-02-2009, 01:11 PM

Thank you so much for the quick response!
As far as not sending in the payment until the paperwork arrives goes.....I argued with one of the reps about this. I told her that I would not send a payment in until I had the paperwork in front of me. What I was told was that we were one of the "lucky" ones that were actually pre-qualified over the phone (with just our "verbal" financial info)---this was on 6/22. We were given the terms--payment amount & rates during this phone call. Based on this date (6/22), we we were told that we would need to have a payment sent in within 30 days or we would be disqualified from the program. I was told by one rep that the paperwork would take 7-10 days to arrive, was told 30-40 days by another, and finally the last one told me that hopefully our initial trial period paperwork would arrive before the payment was due...but that if it did NOT, we were still supposed to send in the payment (to an address that was provided to me), so that we would not be disqualified.
There is so much frustrating history behind us even getting to this point. I won't bore you, and it sounds like you guys have heard it all, but this last CitiM contact was someone who was referred to me by one of their Loss Mitigation attorneys. She sounded like she knew what she was talking about, and said that they are so overwhelmed by people trying to get into these programs, that the paperwork--originally intended to take between 7-10 days--was now taking approx. 30-40 days, but that the payment due date was still based on the initial approval date, which in my case was 6/22/09. ??
I am encouraged by your comment about--if we get this modification, it will be for the life of the loan--that would be great!
Thanks again!!!

07-02-2009, 01:11 PM	#35 (permalink)
frustratedinphoenix Junior Member Join Date: Jun 2009 Posts: 3 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: SUCCESS With Citi Mortgage! Thank you so much for the quick response! As far as not sending in the payment until the paperwork arrives goes.....I argued with one of the reps about this. I told her that I would not send a payment in until I had the paperwork in front of me. What I was told was that we were one of the "lucky" ones that were actually pre-qualified over the phone (with just our "verbal" financial info)---this was on 6/22. We were given the terms--payment amount & rates during this phone call. Based on this date (6/22), we we were told that we would need to have a payment sent in within 30 days or we would be disqualified from the program. I was told by one rep that the paperwork would take 7-10 days to arrive, was told 30-40 days by another, and finally the last one told me that hopefully our initial trial period paperwork would arrive before the payment was due...but that if it did NOT, we were still supposed to send in the payment (to an address that was provided to me), so that we would not be disqualified. There is so much frustrating history behind us even getting to this point. I won't bore you, and it sounds like you guys have heard it all, but this last CitiM contact was someone who was referred to me by one of their Loss Mitigation attorneys. She sounded like she knew what she was talking about, and said that they are so overwhelmed by people trying to get into these programs, that the paperwork--originally intended to take between 7-10 days--was now taking approx. 30-40 days, but that the payment due date was still based on the initial approval date, which in my case was 6/22/09. ?? I am encouraged by your comment about--if we get this modification, it will be for the life of the loan--that would be great! Thanks again!!!