Wit's End

[SillyWorld]

Good Luck! Wish my creditors would lower my rates

[davephx]

Originally Posted by Sunbeam

Well, I just got home from faxing 33 pages of documentation showing I have requested interest rate reductions from ALL of my creditors. I think they thought I would not do it. It is done....I'm ready for the next thing, and the next and the next.....

It is incredible that they made you do this. No other reports of this that I have seen but it makes many of us shudder.

My only guess is your NPV test was so close that the budget that included cc payments was just in negative territory and maybe instead of a denial they gave you this option?????

That would actually be helping you.. but will never probably know the real reason

[Sunbeam]

A new twist. I found out that both my Sept. payment and my October payment were not not applied to my mortgage. I don't know why. My servicer decided to put the funds into some limbo account and tack on late fees. I got a call from Citimortgage collections today telling me I needed to make my house payments. I paid both on time, have not agreed to any trial period nor have I been approved yet for a trial. This is an absolute nightmare. The person I talked to was really snide at first and then when she looked at my account info she could not understand why she was on automatic dial to me (this is how collections calls work I guess). She had me on hold, did some research and said she had requested the funds be applied to the mortgage and that she would (for now) put a stop to the collections calls. She also reversed the late fees.

Moe, someone, why is this happening? I feel like I have entered the Bizarro World.

[SillyWorld]

With Citimortgage anything is possible..

[Sunbeam]

Spoke to my servicer today. Apparently it was she who was putting our payments into a special account so she could show the lender we have a dire need. I'm not sure I understand it all, but I am pretty sure she is on the level. As far as the calls from collections, well, collections has no idea what the loss mitigation dept is doing and they will call and call and call. I need to learn to ignore the calls. I'm giving this one more month. My servicer told me she would have everything done in one month. I had to send her a copy of my bank statement which shows I do not have the funds to make my November payment. This is all a game that the servicers and the lenders are playing with each other and guess who the pawns are? US!

[davephx]

There are suppose to go to a special suspense account until the end of the trial and than get applied to payments.

But on my citimortgage on line account I see them. No calls from collections in ages somehow they must know I am on the trial etc.

But wonder why others are still getting collection calls. Citi Mortgage is servicer Fannie my investor.

[Sunbeam]

I think some of the negotiators are better at flagging the account in modification than others. If they don't do something just right, the calls from collections come. My negotiator said she thought she had done it correctly, but somehow something didn't "stick" and the collections calls started. It's weird that she put me on a trial payment plan w/o me knowing she was doing this. I think she's trying to do right by me and realizes I've been messed around with since last February and is trying to expedite the situation. I've got to have a little faith in her. She has been very responsive.

Anyway, when I look at my account activity online I see where my payments went in (on time) and then were reversed out. Since I didn't know she was doing this, I really freaked out. And when I saw late charges I was super upset. The late charges are gone now and the only additional fee is the appraisal fee.

I'm keeping my fingers crossed this works out this time.

[Sunbeam]

Got an email from my negotiator with Citi. She indicated the file is "under review" by the investor, Freddie Mac. I just looked at my account online and the bubble says this:

10/21/2009 Alert! Your mortgage assistance documents have been sent. Please review and sign the documents as instructed.

OMG, things might just happen!!

[aubie37]

Congrats Sunbeam,

My account now says the same and I received an email from CitiMortgage advising me to log into my account and check the status.

[Sunbeam]

Originally Posted by aubie37

Congrats Sunbeam,

My account now says the same and I received an email from CitiMortgage advising me to log into my account and check the status.

Hi Aubie37. Tell me what did the email message say and what did you find when you logged in? I emailed my negotiator asking her if this was good news...she quickly responded that the post on my account should not have happened, that the file is still under review. Then she had more questions....so I got all excited for nothing. I should know better than to believe anything I hear or read from Citimortgage.

[aubie37]

Originally Posted by Sunbeam

Hi Aubie37. Tell me what did the email message say and what did you find when you logged in? I emailed my negotiator asking her if this was good news...she quickly responded that the post on my account should not have happened, that the file is still under review. Then she had more questions....so I got all excited for nothing. I should know better than to believe anything I hear or read from Citimortgage.

It had said something yesterday about review for status of approval or something to that effect. Today it has this and I received papers today.

10/20/2009 Alert! Your mortgage assistance documents have been sent. Please review and sign the documents as instructed.

The papers read as the negotiator indicated. I added the columns up and I am essentially making a deposit to rebuild my escrow account. I do not pay November or December and my payments resume 1/1/2010.

[Sunbeam]

End of story....got a traditional modification. Our loan is now fixed at 4.5%, 40 years. We can live with this and now have room to breath....yes the terms are longer, but we can concentrate on getting rid of unsecured debt and building up our savings....no more worrying and waiting.

[m_nair]

Sunbeam,
Congrats!!!

[Sunbeam]

Thank you m nair...if not for this forum and the encouragement of some of the people on it, I would not have even fathomed I COULD continue the fight to a good resolution. I didn't fit into the HAMP model, but had other circumstances that required a mod...I got it, but if not for this forum, I would have given up and lost my home. I won, but so many other people here are not fighting on and are giving up without a fight, it makes me sad...

[davephx]

Sunbeam has posted her success with Citi on another thread. But when good things happen may be helpful under this Citi thread since those with Citi may come here first vs hunting thru thousands of posts.

I think credit should be given when a servicer actually comes thru.

If I understand Sunbeam's result she did not qualify for HAMP because income was too high for 31% test. She had however a real hardship and investor was Freddie Mac.

Citi came thru with a very good non HAMP solution (with help I assume or via Freddie)

While in the petition, a Citi person is quoted as example of what is not working vs what is said, Citi did come through per Sunbeam's other thread post (she may have something to say) and I think they should be credited when they do work out situations for our benefits.

Now.. I am still waiting my turn I hope....

[Sunbeam]

Hi Dave,
I posted success on the Citi thread also, I wanted to make sure if people were looking for it they could find it.

You are right on target as to the outcome and why I was denied HAMP. I did not qualify with the 31% first mortgage to income, but my hardship was overwhelming repairs that had to be made to our home. We already had a 2nd on the house and were doing "okay", then got hit with 50K in structural repairs...all went on credit cards. After being told Yes, No, Yes, No, NO NO NO NO by CITI, I wrote to congressperson, Freddie Mac and kept calling calling calling. Finally, I guess I was such a pest they decided to help me out...just sort of kidding. I was always polite, but to the point and documented every conversation. I was told some really wild things by the Citi reps, like I should get behind on my mortgage, or that I should default on my credit cards, or that I did qualify under HAMP because "the second mortgage is calculated under HAMP"....dang, I knew full well that was not correct, I read the guidelines posted under the Department of the Treasury.

Anyway, all is well that ends well and I am more than happy to stick around and help others out who need either moral support or a reality check!

And Dave, I want your turn to come soon!!!!!!