Citi mortgage - 2 year mod approved - Loan Modification Forum

affordable · 07-13-2009, 09:15 PM

We contacted Jamar Jenkins again after going back and forth...while citi mortgage's giving different information every time.
Currently we have an interest only loan for 10 yrs (30 yrs fixed)
******************
We have been offered 4.125% for 12 months
5.125 for another 12 months
After that will resume to current payment 6.125%
Extended the term to 40 years.
The loan still remains interest only
Citimortgage website is already indicating the mod being approved but we have to go on trial period for 3 months with the new low payment...and we should receive the documents by friday as per jamar.

********************
We are not very happy with the offer but with the run around going no where..we thought atleast take the lower payment for next 2 years...

SillyWorld · 07-13-2009, 09:32 PM

Good Luck, and congrats, keep us updated on the signed docs when you get them...

Moe Bedard · 07-13-2009, 09:34 PM

Thanks for sharing that affordable and congratulations! Even though it isn't the best deal that you had hoped for, it helps and its a great rate. Hopefully that gives you the breathing room you need to live for the next 2 years comfortably!!

Do you have another thread that I can merge with this one that documents your Citi story? So I can move them to the success section?

Sunbeam · 07-13-2009, 09:59 PM

Congratulations! Were you above 31% DTI with your first mortgage? Did you get a HAMP mod or is this one that Citi did for you? Do you know who your investor was? Sorry for all the questions, I'm trying to relate your situation to my own.

affordable · 07-14-2009, 06:40 AM

Quote:

Originally Posted by Moe Bedard

Thanks for sharing that affordable and congratulations! Even though it isn't the best deal that you had hoped for, it helps and its a great rate. Hopefully that gives you the breathing room you need to live for the next 2 years comfortably!!

Do you have another thread that I can merge with this one that documents your Citi story? So I can move them to the success section?

Thank you Moe..here is the title of my previous thread "Loan modification question with citi"

affordable · 07-14-2009, 06:45 AM

Quote:

Originally Posted by Sunbeam

Congratulations! Were you above 31% DTI with your first mortgage? Did you get a HAMP mod or is this one that Citi did for you? Do you know who your investor was? Sorry for all the questions, I'm trying to relate your situation to my own.

DTI - We were about 33%
This is not a HAMP mod as we couldn't qualify ..don't know the exact reason.
Investor- Fannie mae

I think Moe is gonna link with my previous thread, u have my entire story..good luck!

affordable · 07-15-2009, 08:14 PM

Moe- Can you please guide us..
We recieved papers via ups , but it does not mention any loan terms that was told to us..just the amount to be paid for next 3 months mentioing about forbearance plan.

SillyWorld · 07-17-2009, 01:28 AM

Any Complaints on your servicer plaese read post and file complaint

Encouraging news article today

07-13-2009, 09:15 PM	#1 (permalink)
affordable Senior Member Join Date: Apr 2009 Posts: 39 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Citi mortgage - 2 year mod approved We contacted Jamar Jenkins again after going back and forth...while citi mortgage's giving different information every time. Currently we have an interest only loan for 10 yrs (30 yrs fixed) **************** We have been offered 4.125% for 12 months 5.125 for another 12 months After that will resume to current payment 6.125% Extended the term to 40 years. The loan still remains interest only Citimortgage website is already indicating the mod being approved but we have to go on trial period for 3 months with the new low payment...and we should receive the documents by friday as per jamar. ****************** We are not very happy with the offer but with the run around going no where..we thought atleast take the lower payment for next 2 years...

07-13-2009, 09:32 PM	#2 (permalink)
SillyWorld Senior Member Join Date: Apr 2009 Location: Central Pennsylvania Posts: 1,140 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Citi mortgage - 2 year mod approved Good Luck, and congrats, keep us updated on the signed docs when you get them... __________________ Central PA, USA Waiting NACA Approval With Citi ON FHA MORTGAGE 05/18/2009 Ginnie Mae investor Is NACA Becomming a SCAM..?

07-13-2009, 09:34 PM	#3 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Citi mortgage - 2 year mod approved Thanks for sharing that affordable and congratulations! Even though it isn't the best deal that you had hoped for, it helps and its a great rate. Hopefully that gives you the breathing room you need to live for the next 2 years comfortably!! Do you have another thread that I can merge with this one that documents your Citi story? So I can move them to the success section? __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

07-13-2009, 09:59 PM	#4 (permalink)
Sunbeam Senior Member Join Date: Feb 2009 Location: N. California Posts: 309 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Citi mortgage - 2 year mod approved Congratulations! Were you above 31% DTI with your first mortgage? Did you get a HAMP mod or is this one that Citi did for you? Do you know who your investor was? Sorry for all the questions, I'm trying to relate your situation to my own.

07-15-2009, 08:14 PM	#7 (permalink)
affordable Senior Member Join Date: Apr 2009 Posts: 39 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Citi mortgage - 2 year mod approved Moe- Can you please guide us.. We recieved papers via ups , but it does not mention any loan terms that was told to us..just the amount to be paid for next 3 months mentioing about forbearance plan.

07-17-2009, 01:28 AM	#8 (permalink)
SillyWorld Senior Member Join Date: Apr 2009 Location: Central Pennsylvania Posts: 1,140 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Citi mortgage - 2 year mod approved Any Complaints on your servicer plaese read post and file complaint Encouraging news article today __________________ Central PA, USA Waiting NACA Approval With Citi ON FHA MORTGAGE 05/18/2009 Ginnie Mae investor Is NACA Becomming a SCAM..?

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