Loans, Debt & Credit - View Single Post

Cape Cod · 07-25-2009, 06:49 PM

I have been informed by citi that I am going to receive a modification on my mortgage. They are only reducing my rate from 7.9% to 5.4% through February 2010. Then my interest rate will go back to 7.9% starting March 1st. After working on trying to get a mod since October 2008 when I lost my job, I think this is just throwing me a bone. I have never been more than 30 days late on my mortgage. Has anyone else gotten a mod similar to this one? I am not sure what the future will hold after February, 2010. I was told if I need another mod I will have to apply again.

I was also told that I qualified for the HAM and then 72 hours later I didn't qualify anymore with no explanation.

07-25-2009, 06:49 PM	#1 (permalink)
Cape Cod Senior Member Join Date: Dec 2008 Posts: 33 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	I received sort of a modification I have been informed by citi that I am going to receive a modification on my mortgage. They are only reducing my rate from 7.9% to 5.4% through February 2010. Then my interest rate will go back to 7.9% starting March 1st. After working on trying to get a mod since October 2008 when I lost my job, I think this is just throwing me a bone. I have never been more than 30 days late on my mortgage. Has anyone else gotten a mod similar to this one? I am not sure what the future will hold after February, 2010. I was told if I need another mod I will have to apply again. I was also told that I qualified for the HAM and then 72 hours later I didn't qualify anymore with no explanation.