| Re: Is a CitiMortgage loan mod possible?
Honestly - it would be a hard sell to Citi, the rate is not to terribly ugly at 6.25% I/O and the purpose of refi is also a hurdle. However, given that it was a refi, you may want to see if there were violations in the Reg Z and other Compliance issues that arise from a refinance to determine if you can "hold their feet to the fire" with modification or even reductions. Again I think with out serious violations it would be extremely difficult. Citi was in the habit of buying multiple "producers"/"lender" loans and it can be difficult, but not unheard of to have those violations.
If you want to proceed in that fashion you need to get out all of your original documents, closing documents and then do a QWR Demand to Citi for Life of Loan History, All Disclosures, TIL, Right to Cancel, copy of Appraisal, Lender Final HUD-1, copy of Note, Deed of Trust, all Riders and All Assignments of the Trust Deed recorded to date.
At the time you receive that obtain a qualified Document Review from an Attorney so that mediation or demands can be made. There is an Attorney associated with this site and there are those in your area, choose someone that is solid, reputable, experienced in this area of the law and you are comfortable with. By all means get the best legal advice you can on these issues at all steps of the process. |