| Re: Citi Mod Process
Dear Cat,
Our Loan Amount is 355K Since Feb 2008 we are paying 3400.- mntl. Interest rate is now 10.99%. It will ajust in sept. 2008. and our cap is 13.99%. Right now we were on time but with the economy change we did not paid July yet. It is a struggle since Feb. My husband has still his job and i work in the hotel industry counting on tips mostly and my second job I was laid off in May and receive partly unemployment money. We worked also since last Now,2007 with a local broker to refi, but we waited so long to avoid the pre- payment penaltie. And as of last week when our paperwork should have gone the underwriter for closing, the broker informed us his bank closed. We got in contract with a new broker and still have little hope. To receive a fixed mortgage rate. |