| My Citi Story/Questions
Although this is my first post on these boards, I have been following for many months and learning as much as I can from you guys. Now that some progress has been made on my case I thought it was time for me to share and get some of the best advice I can.
Trying to get a mod done since Jan. of this year. I was assigned a representative from loss mitigation in March who was/is very difficult to reach. After giving me the run around for 3 months, I finally missed my first payment in June. What do you know, 3 days later I get a call telling me:
A.) I did not qualify for HAMP because Citi would have to defer too much interest (46,000 on a 223,000 loan) to reach 31% of my income, and
B.) I couldnt get ANY type of loan mod because my DTI is -800, told to either raise income or lower expenses.
I have been sent papers for a 6 month forbearance plan at a reduced payment, and told at the end of the 6 months my situation would be looked at again to see if I can get a mod.
My only questions is this: Where does my DTI need to be to get a mod? Ive spoken to 4 people from citi in the last 2 days and no one can give me a number or range. How can I possibly have any budget plan if they wont tell me what im shooting for? -400? +100? If im out of the negative is that too much? I would love to have SOME sort of idea of where I need to be. Seems too easy for them to just tell me no in 6 months, now either pay up or we force you to short sell. Im a teacher and dont make much, but I can get a side job and rent out another room in my home to make up the difference if needed for a mod. Would just need to know what im shooting for. Want to stay in my home if citi/fannie mae will let me.
Thanks for any and all advice.
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