help with citi residental lending

keither1 · 08-19-2008, 06:58 PM

[FONT='Calibri','sans-serif']Ok my story … I own a home In NY and have a 3/1arm at 7.55 % with citi residential lending (holds 1^st position )and specialized loan services at 12% ( 2^nd position) payments are 2650.00 a month . I have a daughter that will be one on the 21^st , month after my daughter was born she became ill. My daughter is on medical food that my insurance company does not cover, her prescriptions cost about twelve hundred dollars a month. The doctor told me that 99.9% of children out grow it before their first birthday my daughter is that 1%.So now we are faced with another year of medical food and prescriptions. Soon after being late and our income not being nearly enough to make ends meet . I have fallen behind on my mortgage payments , I have been in contact with my lender and they say I have to be late for them to help me, we are a single income family do to my daughters health. I love my family and don’t want to put them under more stress what can I do to make things better with my lenders

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Moe Bedard · 08-19-2008, 07:48 PM

Hi Keith,

Welcome to the forum and thank you for joining................
Glad to see you made it to us........

keither1 · 08-20-2008, 03:06 AM

Thank you does anyone have any contact info for specialized load services

this is a copy of my hardship letter

To Whom It May Concern:I am writing this letter to explain my unfortunate set of circumstances that have caused us to become delinquent on our mortgage. We have done everything in our power to make ends meet but unfortunately we have fallen short and would like you to consider working with us to modify our loan. Our number one goal is to keep our home and we would really appreciate the opportunity to do that.The main reason that caused us to have a hardship and to be late is because a month after my daughter was born she became ill. My daughter is on medical food that my insurance company does not cover, her prescriptions cost about twelve hundred dollars a month. The doctor told me that 99.9% of children out grow it before there first birthday my daughter is that 1%.So now we are faced with another year of medical food and prescriptions. Soon after being late and our income not being nearly enough to make ends meet , we have fallen further and further behind. Now, it’s to the point where we cannot afford to pay what is owed to citi residential lending and specialized loan services . It is our full intention to pay what we owe. But at this time we have exhausted all of our income and resources so we are turning to you for help. we feel that a loan modification would benefit us both. We would appreciate if you can work with us to lower or delinquent amount owed and or payment so we can keep our home and also afford to make amends with your firm. We truly hope that you will consider working with us and we are anxious to get this settled so we all can move on.
Sincerely and Respectfully,
Mr. & Mrs.
Loan #
Address

>thank you

schwefls · 08-20-2008, 06:14 AM

keither1 sounds good

Moe Bedard · 08-20-2008, 08:54 AM

Keith,

You may have to see if with SLS you need to deal with another lender on a modification...............since they are literally just a payment processing center, I am not sure they can help...............

Call our Customer Care Center
(800) 315-4SLS (4757)
Monday-Friday from 7:00 AM to 7:00 PM, MT

keither1 · 08-20-2008, 05:38 PM

Hi,thank you!!! I called SlS Customer Care Center and spoke to a person named , Justin a very nice person, he asked me some financial question's and said he thinks he can do something with my loan from a 12.5%to a 6 % or better GOD I HOPE.......

Is there anything that i should know before I fill out the papers the is sending me thank you Keith

Moe Bedard · 08-20-2008, 05:41 PM

If you have a contact number for Justin, when you do get the paperwork, the most important piece would be the financials.............just see if he would be able to go over them with you to help you package it to where it needs to be for the investor on the loan so you can get the 6%.

Please keep us updated...........

keither1 · 08-21-2008, 04:54 PM

Hi just an update I have emailed the people from citi and got a call that they are sending me a packet to fill out ,they need:
2 months bank statements
2 month pay stubs
Hardship letter
And the very nice person said it came down from management for her to call
I’m a little confused because I went over all my financial stuff and they said I don’t qualify for any programs at this time they stated that I'm at 37% and citi likes to see you at 45% what does that mean they want to see 45%???? I don’t know what they’re looking for can anyone help
Also SlS has received my paper work and I’m just waiting for Justin to get back to me..
Thank you for your help
PS my daughter went into hospital today for biopsy and I prey they find out what’s going on !!!!!!

Moe Bedard · 08-21-2008, 05:12 PM

What I would ask Citi is..............what would I need to be doing to work towards that number because I really want to keep my home..........and then they should tell you........at least then you will know if you have to work on some expenses to help you.........if it is the case of resubmitting financials.....you should be able to do that.......

keither1 · 08-21-2008, 07:02 PM

hi I called citi and spoke to someone that sounded like a robot!!!!!!! I asked her what kind of guide lines they are looking for, because I'm trying to keep my home and if i have to cut some things out of my budget to keep my home then i will all i want to do is keep my home she stated that there are no guide lines aaaaaaaaaa!!!!!!! so I'm just going to give them the info i already gave them thanks for your help

Moe Bedard · 08-21-2008, 07:43 PM

Is that a

at the csr for not giving you info or

me for trying to offer suggestions.........

were you able to get the direct line of the very nice person that called you from Hala's office?

keither1 · 08-22-2008, 03:18 AM

hi, morning. no that was not directed at you at all... The robot at citi made me so frustrated.. YOU have bin a so help full i would have never gotten this far without you..
No i Did not get her # but i do have her name( Lisa).. would that help if I called and asked for her... thanks Keith

Moe Bedard · 08-22-2008, 07:23 AM

Keith,

What I would do again at this point is to fire off another email to Hala......she is the VP in that dept. and I woud tell her that a rep from her office said that you dont qualify because you are at 37% and Citi likes to see 45%, but offered no suggestion as to what those numbers mean exactly, and what you need to work on to get there and to resubmit your financials for the help that you need...............

P.S.
How is your daughter doing?

keither1 · 08-23-2008, 04:17 PM

Thank you ..Thank you

to start my daughter is fine the test will be in next week...

I spoke to Justine from SlS he told me that I'm looking very good and if i wanted he would adjust my payment from 600.00 to 300.00 today but if i Waite till next week he would could drop it lower and maybe knock off 15 or 20,000.00 of my loan.. WOW!!!!!
He ordered some kind of appraisal that they drive by the home and place a value on it.. I also sent hala an email as you sugested... thank you thank you

Moe Bedard · 08-23-2008, 04:34 PM

Keith,

Glad to hear your daughter is doing good..............

That sounds great about the second...........I hope they can do that for you........
Good Luck also with Citi...........I am sure that Hala's team will be able to straighten everything out.

Please keep us posted on what you find out..........

RudyJay · 08-23-2008, 08:44 PM

Keith
Keep moving forward .. we all know the frustration... hang in...rj

keither1 · 08-25-2008, 05:34 PM

Hi I'm a little lost... I spoke to a modification person today ,that i called before i started working with the banks myself.. He told me that i should hold off working with my 2nd loan holder and that they could do better.. send them there fee 1300.00 up front and another 1300.00 at the end if they get me what i want if not they will refund my 1300.00 ... It sounds good but what happens if they cant get me what they say and i loose my deal I'm making with the 2nd..... i don't know what to do .. please give me some help.The person just want to make the right decision for me and my family
thank you

fyrcapmo80 · 08-25-2008, 05:51 PM

Why pay for something you can do yourself. You've already proved that. And $2600? Why do these scam artists seek to take away what we are tying to hold onto? If they really wanted to help you wouldn't be payng his high commission. I'll bet they have a board in their office with each persons name, the number of accounts they are working and how much they are rolling in. Ameriquest did, I remember. And they promised the world too.

Moe Bedard · 08-25-2008, 05:56 PM

Keith,

Save the money and do it yourself...........that is what would be best for your family...........and you will have saved $2600 in the process...........remember........it is up to what the investor will do..........so what they tell you that they can do isn't going to be any better than what you can achieve on your own..........For Free........

keither1 · 08-26-2008, 03:02 AM

Thank you ......... I'm just going to send my emails every day and call till i get some kind some help.... whats do you think is going to happen when i get into my 2nd month of being late do you think there going to be more responsive to my situation or are they just going to start forclosing..... even if the 2nd load holder is working with me... I know the first is the one that is the hardest to work with ..... Thank you for the help guys I dint think i would have made it with out all the help...................thank you..... Keith

keither1 · 08-27-2008, 03:11 AM

morning ..... spoke to citi csr last night and the 40% there looking for is my monthly payment to my net pay... they are not taking any other expense's into acount... there going to see if they can put my daughters medical expenses in with my payment a month to bring me up over 40% ..... still no word back from 2nd ....

update on my dauter... she has something wrong with her Colin her white blood cell count was high and it we don't find out what kind of food is making her Colin bleed she could damage her Colin to the point where they might have to remove it ...

Dan Bailey · 08-27-2008, 04:28 AM

keither,
keep going you're doing the right things! We all want to see you win this and for good thins to happen! I hope your daughter gets well.

keither1 · 09-02-2008, 05:43 PM

Hi.... just an up date I spoke with Justin (SlS 2nd mortgage ) He submitted my paper work and said it looks good he will have some news end of this week,,,,this is what he purposed 210.00 a month and knocking off 23000.00 off the loan. well see...
Iv bin calling Donna every day (she is so nice ) from citi she said that all my paper work is in and that its going unbelievably fast which she was surprised but will have something this week for me ... thank you all Keith