Old 07-03-2009, 07:18 PM   #1 (permalink)
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Citi Mortgage Mortgage Tips

I recently received a letter from Citi Mortgage informing me that my second mortgage interest rate has decreased for 6 months. During that time someone will contact me to review my file and set up an appointment with an appraiser. This leads me to believe what? The question I have is why did they offer me this? I have not been late on my payments and since my interest rates are extremely high on both mortgages is the only reason why I am guessing this. Also, the value has decreased substantially on my condo as well - I have a 30 year fixed mortgage on both.
Is this false hope from Citi Mortgage that they want to decrease my interest rate? I have sent them the information requested - pay stubs and tax returns, but was informed that the process takes 30 days.
I am new to the forum and would appreciate any assistance. As of this time, no one has verbally contacted me, it has all been in writing via mail or UPS.
Thanks.


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