Looks like we are in trouble again.

[fandi1]

Looks like we are in trouble again. Our load was modified and we got a new payment that was little higher that we wanted but we were ok with it. But now I lost my job, so my wife and I are both unemployed. It’s been about 3 month now. I did not think it’s going to be so hard for me to find a job, but as of today I have not found one. Our mortgage now 3 month behind and today we received a certified letter from Citimortgage stating notice of default and intention to foreclose. I called Citi and did tell customer service representative that we don’t have jobs at this time and was told that we need to make a payment by the end of the month and that’s all to it. Even if we do make a payment it would not help because in 2 weeks another payment will be due. Needless to say we don’t have money for the payment; we just made payments on gas and electric. Can anything be done? I did here somewhere that during this time of the year mortgage companies can’t throw someone out. I hope I’m explaining correctly. We don’t want to lose our home but it looks like we are on a last leg and we will not finish this race… any advice would be HIGHLY appreciated. Thank you

[Evan Bedard]

Hi fandi1,

I called Citi and did tell customer service representative that we don’t have jobs at this time and was told that we need to make a payment by the end of the month and that’s all to it. Even if we do make a payment it would not help because in 2 weeks another payment will be due. Needless to say we don’t have money for the payment; we just made payments on gas and electric. Can anything be done? I did here somewhere that during this time of the year mortgage companies can’t throw someone out. I hope I’m explaining correctly. We don’t want to lose our home but it looks like we are on a last leg and we will not finish this race… any advice would be HIGHLY appreciated. Thank you

Since you and your wife are unemployed they will be no way you can get a loan modification. What you need to do is request a forbearance agreement with no payments for about 6 months. This is offered to borrowers with no source of income, and gives them time to get a job and begin making their payments..

[fandi1]

thank you Evan! where do i get this information about forbearance?
should i call loan mod office or directly Citi

[Evan Bedard]

I would call Citi's loss mitigation dept and explain to them your situation. If you google forbearance you will find a ton of information for this type of agreement..