Citimortgage as 2nd Mortgage

[goodlife4524]

Hi,

I have a first loan with Aurora Loan Services and a 2nd loan with Citimortgage. I got word today that the 1st Loan modification has been approved through the making home affordable plan. I had called Citimortgage a while ago about my 2nd mortgage, assuming that the 2nd mortgage plan calls for automatic modification on 2nd loans when the 1st are modified. They said to give them some time to get a broker's opinion on the price. They got it and then said the system brought up a loan mod of about 1% IR reduction rather than the making home affordable plan that called for 1% IR. I had them pull up the 2nd loan modification plan details and she read them and then talked with her supervisor. She came back and said Citimortgage wasn't participating in that plan yet. Does anybody know if Citimortgage is now or will participate in the 2nd lien modification program? News releases mentioned them as one of the participants. Who can I contact at Citimortgage that would be able to help me - my experience with the homeowner's assistance was that they didn't have much experience with 2nd mortgages.

[Evan Bedard]

Hi googlife4254 welcome and thank you for joining!

Who can I contact at Citimortgage that would be able to help me - my experience with the homeowner's assistance was that they didn't have much experience with 2nd mortgages.

I suggest you try and give Jim and Jeannes office a call, they have helped many here in their process

Jeanne Drake VP Home Retention
PH 1 949 784 6011
FAX 1 866 642 4196

Jim Davis
PH 1 904 996 9696
FAX 1 904 996 1727

[goodlife4524]

Originally Posted by Evan Bedard

Hi googlife4254 welcome and thank you for joining!



I suggest you try and give Jim and Jeannes office a call, they have helped many here in their process

Jeanne Drake VP Home Retention
PH 1 949 784 6011
FAX 1 866 642 4196

Jim Davis
PH 1 904 996 9696
FAX 1 904 996 1727

Thanks for the contact! Just wanted to make sure who I was calling first. Are they with Citimortgage? or are they independent, lawyers, etc?

[Evan Bedard]

Your welcome and yes they are with Citi, give them a call and fax your info to them and they should be able to further assist you

[goodlife4524]

Originally Posted by Evan Bedard

Your welcome and yes they are with Citi, give them a call and fax your info to them and they should be able to further assist you

Thanks! Had seen them listed in the AMHSI thread and was just confused on who they were and wanted to make sure.

[Evan Bedard]

Your welcome, keep us posted on your progress!

[goodlife4524]

Update - I called the Citimortage line for loansafe members as a first call before calling Jeanne or Jim and actually talked to someone who knew what they were talking about. However we ran the numbers and I was denied!

I read the fact sheet on the 2nd Lien Modification Program: http://www.financialstability.gov/do...nFactSheet.pdf
and it mentions 'Automatic Modification of a Second Lien When a First Lien is Modified' and it talks about reducing interest to 1% for 5 years and then tying it to the rate on the 1st mortgage. Am I crazy? The rep talked about how Citimortgage is running a program on 1st & 2nd mortgages and I didn't qualify because my expenses were still too high. He hadn't heard of this program either. Before I call again I wanted to know if anybody else knows what I'm talking about with the 2nd Lien Modification Program? The guidelines are quite clear in that no need to qualify. Has anybody heard of this program?