CitiMortgage HAM Process

[Chun99]

I just got my HAM Trial package two days ago. I return the package with all of the documenations yesterday. I couldn't get a clear answer from CitiMortgage about next steps. I know I have to make my trial payments on time, but I want to know when I will know the result from the document review.

When I call CitiMortgage, they told me that I have to wait until I finish all three trial payent to know if I was approved.

Is that true?

[Evan Bedard]

Hi Chunn99 welcome and thank you for joining our community.

I just got my HAM Trial package two days ago. I return the package with all of the documenations yesterday. I couldn't get a clear answer from CitiMortgage about next steps. I know I have to make my trial payments on time, but I want to know when I will know the result from the document review.

When I call CitiMortgage, they told me that I have to wait until I finish all three trial payent to know if I was approved.

Is that true?

Yes there are many here as well are on this trial period and some have recently completed. They will continue to review you loan for a permament modification once this period is over..

[langlang]

I don't think there's anything new they can tell you while you're on the trial payment plan. Just keep checking this forum, as Evan says there are some who are 1 or 2 months ahead of us. Hopefully their mods will go through smoothly and they will post with their news, that will be a good sign for us-

[jillybean]

I submitted my trial mod paperwork on July 24th. Today I received a call from underwriting, who just got my package. She said they will have it processed within another 2-3 days and the FINAL modification paperwork will then be sent, which I should receive in 10-14 days. So there is really nothing else to do, just make your payments, they are just using this time to verify everything and prepare the final documentation package.

[tazzaro]

I have been paying trial payments since May, received and sent back the trial paperwork in early July and just today (8-7)got a call from a rep. who was going through our file asking for more info. During this conversation, my mortgage amt. came up and I was informed we didn't qualify because the HAM program only allows for loans under 729 (see my post under "foreclosure process). Anyway, the right hand has NO idea about the left, the reps. are completely misinformed and I just WISH we had another lender. The rep. who declined the HAM program this am (after 4 mos. of making pymts and being told we were "approved") promises she'll find "something" for my family.
So scary.
Tammy A.

[Chun99]

Update:

My Trial documents were received by Citi and my first trial payment check, for 10/1, was cashed. My trial payment dates are 10/1, 11/1 and 12/1. I have been current on my loan. The last full payment I made was for 8/1, but the entire amount is being held in a unapply fund bucket and not apply to my account. Should I continue to pay my full payment amount for 9/1 or just worry about the 11/1 trial payment? I don't want to skip the 9/1 payment and be view as missing a payment. What should I do?

[jillybean]

Chun, if I were you, I would make the modified payment for Sept. because it's pretty likely the dates on your documents are wrong. You could try calling, but honestly I bet you'd get 5 different answers depending on who you talk to. I'm willing to bet money that your final mod papers will come a month earlier than you expect and your trail will be complete if you make your modified payments on 9/1, 10/1, and 11/1.

Yes, the payments are unapplied to your account until the trial period is over, or at least that's how it's looked on my account. And I was still reported as late on my credit. But honestly I didn't care too much about that, I was already late going into this, and I'm not looking to take out any new lines of credit so I don't care if I have a low score for a few months or a year after all this.

Good luck!