FHA Loan, Forbearance, and confusion

[tbarnes]

I am confused. Citimortgage gave us a special forbearance for three months that they said was a trial to see that we can and are willing to make our regular monthly payments. They said we would then be able to get a loan mod for our FHA loan. (The third payment was on Oct. 12.) We made the payments like they said and I have been calling them every day for a week now to see what we need to do. Of course, nobody at Citimortgage will tell me a thing.

Today, I got a letter saying our loan is still delinquent and they want payment in full or they are going to start the foreclosure process all over again. The agreement we signed said that after the third payment, we would continue negotiation with loss mitigation on all available options. It did not say the past due amount was due in full before Oct. 12. It said that was an option, but not that it was required. The people at FHA took our information and said we do qualify for some type of modification and said Citimortgage should be taking care of that for us.

What do I do now? Call FHA again and see if they will make a call like they did before? I already have health problems and this game Citimortgage is playing is only making it worse.

[dtap57]

How much did they drop your payment during the forbearance period? It seems like so far most with an FHA loan haven't received any kind of decent loan mods so far. I was offered a forbearance that was very much like yours. The problem was they were only going to drop my payment slightly.

[cleach]

Just a warning - I TRULY hope your case is different - but I had an FHA loan, and we were just foreclosed on (auction was 10/6). We too tried for forbearance, modification, etc - did everything we were told to do and got a similar letter. FHA was absolutely NO help to us, neither was HOPE.

I hope you're able to get FHA to step up & help you here. I made the mistake of thinking it would be handled since FHA was involved & now I no longer own my home.

Good luck, and keep fighting!

[dtap57]

Im sorry to hear about you losing your home. How far behind were you when they foreclosed? I agree i am very dissapointed in HUD for not giving us FHA owners options with our mortgages. I also tried using HOPE NOW and that didn't work either. It is looking more and more likely that i will just file chapter 13 BK to save my house.

[tbarnes]

Originally Posted by dtap57

How much did they drop your payment during the forbearance period? It seems like so far most with an FHA loan haven't received any kind of decent loan mods so far. I was offered a forbearance that was very much like yours. The problem was they were only going to drop my payment slightly.

They didn't drop the payment at all during the forbearance period. We had to make regular payments. We don't need the payments moderated as much as we need help with some type of adjustment for the back payments. For a while, we hit a rough spot and couldn't make the payments. Now, we can once again make the regular payments, but we can't come up with $14,000 we owe on back payments, late fees, interest, etc...

Citimortgage was going to foreclose in August, but after FHA got involved, they didn't. The people from FHA said there was no reason for us to lose our house because there is a program FHA has that can help since we can once again make our regular payments.

The man from FHA was very helpful to us before so I guess I will call him again tomorrow. The husband will be mobilized for deployment in November, so if this isn't resolved soon, I will be stuck trying to handle everything on my own. It is going to be difficult with my health problems. It is very frustrating that you can't get a straight answer from Citimortgage.

[cleach]

Originally Posted by dtap57

Im sorry to hear about you losing your home. How far behind were you when they foreclosed? I agree i am very dissapointed in HUD for not giving us FHA owners options with our mortgages. I also tried using HOPE NOW and that didn't work either. It is looking more and more likely that i will just file chapter 13 BK to save my house.

We were 11 months behind, less the payments we made for the modification(s). Although I was assured repeatedly by WF & FHA that it was being resolved, we were still foreclosed.

Hope it doesn't come to BK for you, but I know what it's like when you've run out of options!

[aubie37]

Originally Posted by tbarnes

I am confused. Citimortgage gave us a special forbearance for three months that they said was a trial to see that we can and are willing to make our regular monthly payments. They said we would then be able to get a loan mod for our FHA loan. (The third payment was on Oct. 12.) We made the payments like they said and I have been calling them every day for a week now to see what we need to do. Of course, nobody at Citimortgage will tell me a thing.

Today, I got a letter saying our loan is still delinquent and they want payment in full or they are going to start the foreclosure process all over again. The agreement we signed said that after the third payment, we would continue negotiation with loss mitigation on all available options. It did not say the past due amount was due in full before Oct. 12. It said that was an option, but not that it was required. The people at FHA took our information and said we do qualify for some type of modification and said Citimortgage should be taking care of that for us.

What do I do now? Call FHA again and see if they will make a call like they did before? I already have health problems and this game Citimortgage is playing is only making it worse.

T,

I suggest contacting the executive response line at 866-255-3901 and see what can be accomplished. Good luck.