Anyone have a MOD go through while stayin current w/ mrtg?

[jonahstephenson]

If so, please tell me your stories and how you went about it. Any information that I can relate to will really help!

Jonah

[ctugrier]

I was current, but they told me I need to go through the reduced payment plan before they will even submit my loan modification. Now, I really think they are just giving me the run-around. I paid my reduced payments on time and now they said I do not qualify for the loan modification. This is an extremely frustrating process. I truly feel Citimortgage does not want to help at all. They are definitely not following Obama's Plan to help homeowner, after they were given bail out money!!!

Citimortgage Rep basically told me to sale my home, since they can recover more money than to help me with a loan modification.

[jonahstephenson]

Originally Posted by ctugrier

Citimortgage Rep basically told me to sale my home, since they can recover more money than to help me with a loan modification.

Its VERY strange how almost everyone gets a different response from them. In my situation selling my house or letting it going into forclosure is not in thier best interest considering it is worth 70K less than I owe...

[amyjeannine]

Hi!

I was current when I submitted my hardship application to HFC and they suprised me with a permanent mod for the life of my loan. I think it truly depends of the company you are with and your individual circumstances.

The problem is getting through to an actual person who has authority and interest in your situation. The customer services folks in general do everything in their power to keep you from getting through to the correct contacts.

[jonahstephenson]

Originally Posted by amyjeannine

Hi!

I was current when I submitted my hardship application to HFC and they suprised me with a permanent mod for the life of my loan. I think it truly depends of the company you are with and your individual circumstances.

The problem is getting through to an actual person who has authority and interest in your situation. The customer services folks in general do everything in their power to keep you from getting through to the correct contacts.

amyjeannine,

Thanks for the reply... can you tell me around how long it took and anything special you had to do? I submitted my hardship in may, they did my apprasial and submitted to "investor", where it has been for about 5 weeks. I have a contact person at the 866 255 3901 number, but he only tells me "nothing new" when I call him twice a week.

Thank you soo much!

[Ragtopgal]

CTUGRIER, etc: What is the answer here. What are you going to do next? You are initially approved, make trial payments, which means they are put as unapplied funds, get creditors calling you for being late, and then your told you do not qualify. How can they possibly do this to people? Why make trial payments if you end up not qualifying; can't they tell this from the start? I have already made one trial payment only to find out, that was a mistake, the process had not been followed correctly so I was in never never land. So I'm behind. And if I ever get approved for something, what will happen at the end if they deny me? How do I make up for the months difference I need to pay back because I did what they said, and paid trial payments. It seems insane that we get reported late when making trial payments on time. I have spoken with a rep from the loansafe # and this is where I'm at, waiting for the value of my home to come in. I am guessing, the computer does the work and tells you if you qualify or not. My fear is my income might change by the time the trial payments would be over, I'd send in pay stubs and things might look worse. And then they tell me I don't qualify? I've read many many posts and can't sleep at night; my mind won't shut off, what decision to make here; trial payments or not? If not, how can I make the full payment when my pay is cut?

[amyjeannine]

I really did not have to do anything special BUT I called at least once a week. I also did a load of faxing of information, because clearly there were some folks in customer service that do not have the complete information or try to screen you out of getting your information to someone who will actually read it. Since you said your info is with the investors, then you are really at a wait. My whole process only took about 5 weeks and part of that was due to the fact that I started a new job and needed to be there long enough to have paystubbs.

Each company is different as well as the investors on loans have different criteria.

You have a contact number and that is more than some folks have on this forum.

Good luck and keep calling that number.

[rlhoneydew]

Hi Jonahstephenson!
I have been pre-approved for the HAMP loan modification with Saxon Mortgage. My loan was NOT delinquent at the time. My loan was due to adjust to a very high interest rate in April... I had not missed a payment, and have not been late at any time during my time with Saxon Mortgage. I requested a loan mod in March... they said I didn't qualify for their "regular" modification plans... but then had me immediately apply for the HAMP, which I did qualify for ( I believe they did that so that they could take advantage of the gov. incentives being offered). I have recently made the second trial payment, my last one is 8/1. Supposedly, once i have made all payments on time, I will be granted the HAMP Modification. There was a problem with the payment amount (not at the 31% as the program denotes) but was told it would be re-calculated when the final paperwork goes through underwriting. I would keep in touch a couple times a week.... In my experience (thank God) you DO NOT need to be delinquent to qualify. The HAMP guidelines clearly state this. I sincerely hope things go smoothly for you & I will keep my fingers crossed. I understand how stressful this is. You deserve a chance....Good Luck

[jonahstephenson]

[/quote]

You have a contact number and that is more than some folks have on this forum.

Good luck and keep calling that number.[/quote]


This is true...

Thank you for sharing your experience!

Jonah

[Sunbeam]

Yes, HAMP states you can get a modification while current on your mortgage. Unfortunately the people at CITI who answer the telephones, the ones who hold our lives in the balance do not know what they are doing. They are poorly trained. They are informed through a rumor mill it would seem. I really think CITI management needs to listen to some of these telephone calls. They should be liable for the misinformation their reps spew. (yes, I am grumpy today)