HAM mod in progress

[tjmgam]

I have been trying to work with Citi since January. Everytime I called they said, nothing yet. Finally at the end of May, I called and said I was qualified for the HAM program. Set up everything and told to call back in a month. Called back last week, talked to one person, they said I was approved, then I was hung up on. Called back, low and behold, I wasn't approved. Was transfered to someone else, I am PREQUALIFIED. I'm supposed to get the forms in the mail...still waiting. I've heard on here people getting so much more taken off their monthly payments, but mine was only reduced by $250. I was hoping for a payment less than $1000, since I am disabled and still waiting to hear from SSDI. Is there anything else I might be able to do? I CAN'T lose my home, but I don't see it as being that big of a savings especially since it is going from 6.8% to 3.75%. Anyone have any suggestions, they would be greatly appreciated.

[langlang]

I would try to call the exec phone numbers at this site, they should be able to find out for sure what is going on.

The HAM program modification is based on modifying your loan to try to get your monthly payment down to 31% of your income. If someone else gets a 2% rate and a greater reduction than yours, that only puts them in the same boat as you regarding your mortgage payment to income ratio.

Hopefully your new payment will allow you to get by and keep your home. If so, then I would be happy with that, and not worry about what other people are getting. But if you are still in dire straits with the new payment, explain your situation when you call the exec number. If there is a way to work out a better payment for you, I think they are the ones that would be able to do it.

Also, your new payment should include property tax + home insurance- were you paying that with your monthly mortgage payment before? I was just approved for HAM and just made my first trial payment. I was previously paying property tax in one big chunk every year (from my income tax refund), but now will be paying monthly with my mortgage.