bandaid loan modification

[Cape Cod]

As I posted earlier I got a mod from Citi. But only an interest rate reduction from 7.99 to 5.4 till Feb. 2010. Then my interest rate goes back up. I received a standard letter. No forms to sign. When I go online to my account my rate is reduced but their is a message saying I have accepted the agreement. I didn't accepted anything. Also, I see that there is a section called extenstion interest with an amount to the back of the loan. Can anyone tell me what that is? The letter I received is a standard letter saying for a limtied time, you can pay down your other debt while your monthly mortgage payment is reduced. from June to Feb. 2010. I have been trying to get a long term mod since 2008. So annoyed at this process. Any advice??? Please!!!!!!!! Got HAM program then denied no reason.

[Elora123]

Have you tried NACA? It takes a little while, but you can see on the website NACA as your case progresses. I was given the runaround by Citi then told I had equity???? I don't. I went with Naca and had my file submitted in mid July. Hope to hear by September. They have been able to get some people 2% for the life of the loan. All we want is to keep out homes!

[SillyWorld]

Yes I was told same thing from Citi Direct, BUT..They reduce your Payment, then if your not on a signed agreement they will list yopur payments as not being m,ade, they cannot list a sModified if there is no agreement, when they wanted me to do this I asked what if at the end of these 3 months and by bills arte in the same shape then what would I have to do..??? They said well you would have to pay us a Balloon payment of all the difference ion the loan payment to the reduction..???

So ASAP I went with Loansafe EXC...They gave me same deal...Then since I am FHA Loan with Citi I went NACA