Loan Mod HAM PROGRAM

[Fastfreddy]

well, almost everyone’s experience on this forum is spot on. Citi Mortgage does not know what the freak is going on within there own departments. Seriously the left hand is not talking to the right hand at all. I started the process back in march of 2009, i contacted city and stated i was overextended with my bills, and my employer reduced my pay via twelve percent, Although, i was current on my home mortgage consecutively for 24 months. i didn’t know how long i could go like this. I was told to apply via the web so i did.. 3 months passed and then i was told my file was lost, typical you say, Yup After contacting them every other day for the next 45 days i was told i was approved for a loan modification. here is my loan info
Mortgage 275k 6.375 10 year interest only option 30 year fixed they reduced it to two percent 40 year fixed Payments went from 2100 to 1487 i just got the preliminary forms in the mail yesterday, im going to sign them and send them back. I have already started to make the reduced payment, but now they say i have to make a additional 4 payments. that would make it 5 payments and not 3..can these people get anything right My main concern at this point is my credit history, i have been told many things and not one of them are consistent with one another...the forms that were sent to me say the following (credit reporting) during the trial period, we may report your loan as delinquent to the credit reporting agencies even if you make your trial period payments on time. However, after your loan is modified we will only report the loan as delinquent if the modified payments are not received in a timely manner i think what’s going to happen in the short term is they are going to report the loan as delinquent although after the loan mod is complete one would have a good case to get the loan records corrected, if all of the criteria as listed above is completed right I contacted an individual from citi mortgage with the number provided here on this forum. and he said type a letter to citi mortgage requesting your credit report to be corrected. I told him i was current for 24 months, and now when i am making payments under their terms and guidelines i am being reported as delinquent. .he said i have a good case to get the matter resolved. Im very skeptical but i feel i might have a good shot at getting this accomplished .any input from anyone in the same boat will be greatly appreciated

[jonahstephenson]

FF,

So, they helped you while you were still current with your mortgage, just due to your hardship? How long did it take from beginning to end? I have done everything on my end and my file is supposedly "at the investor" since the beginning of June? I just get the feeling that they are not helping me because I remain current, depleting my savings.

I am in the same boat you were, only my employer has cut my pay 30%.

If you can tell me more about your experience and how you made them help you I could not tell you how much it would assist.

Thanks,

Jonah

[Moe Bedard]

Welcome fastfreedy and thanks for sharing your Citi Mortgage story!

Yeah, I have heard that many times and it is the same story with most all mortgage servicers. They are just too inundated with foreclosures and not enough staff to assist everyone. Plus, the staff at times drops the ball for their bosses and it makes them look bad.

Neither here no there, you need help and you need answers, so lets see if you can get that here at LoanSafe.org That number you called and the info on this forum should help you get you loan modification. So, please stay positive and let me know if there is anything we can do top help your cause.

Keep us posted!