CitiMortgage My Story

[giari3]

Hi, I have also been reading this forum for weeks and decided to call Hope Now and talked to the counselor Joe Birch with Autrium Solutions inwhich he told me to fill out the workable solutions packet that I already had downloaded with Citimortgage and send it in. I sent in my 22 page packet and the following week they sent me a letter saying that I might qualify for Home Save Program. I called and told them that that would not work for me. So, Mike told me to send 3 payments of $2195, after the 3rd payment I need to call the loss migitigation dept. again and tell them that I completed my payment plan so that they can start my loan modification. My current payment is an impound account of $2777.00 per month. We are 2 payments behind. I am keeping my fingers crossed. Oh, he did mention that there would be a 20% ballon payment added to the loan.

[giari3]

This is a great forum! I sent all my paper work for a Loan Mod and they sent me a letter to call back for a Home Save repayment plan. I told them that that would not be to my benefit. Mike reviewed my Loan Mod and said that I needed to pay $2195 for 3 months and then I should call so that they can start my Loan Mod. I have an impound account of $2777 monthly. So this is a great help and I pray that I can keep this amount. They said that there would be a ballon payment added to the loan. But, he did not know what my payment would be after that. We have a deficit of about $550 per month. Loan amount $381,000 house value around $275,000. My husbands 2nd income has decreased drastically and his full time job as an Electrician with the State is taking a10% monthly reduction. I have increased my hours on my part time job to make up for the 10% reduction. Does this 3 month reduction sound like we might have a chance for a loan mod? What about ballon payment? We are 2 payments behind. Any input would be appreciated.

[Moe Bedard]

The forbearance may be a requirement of the investor on your loan...........some do this as a trial modification to make sure that you can make the payments..........just make sure that you keep in touch with Mike so that you can work on the modification right after you make the third payment.

[giari3]

Thank you *** for your response! I received a letter from the Collection Manager for my request for a repayment plan of $2195 for March/April/May for June it says amount $10,522.52. I called 1-866-713-4784 supposedly the loss mitigiation #. I told the lady that I would definetely not have the $10,000 to pay in June. She said that this amount would be added to the amount of the loan when I am considered for a loan mod. Ok, but what if they don't approve it? We have a 30 yr fixed for 6.75% we have been here for 20 years. Owe $381,000, house values are between $225,000-$275,00. Should I call and ask to see if these 3 payments are being applied to the loan. Or what will be done with this money. The reduction of almost $600 is a great help! I wish it remains that amount. We have to sign and date this letter that says that we are delinquent $5893 for 2 ms. including $374 in late charges. So they are adding about $2,000 ballon payment I guess. The payments will be sent to Citimortgage, Inc, PO Box 183040 Columbus OH 43218-3040. I got nervous because the Letter says Sincerely, Collections Manager/CitiMortgage. I thought I was dealing with Loss Mitigation Dept. not Collections??? Help!!! Your input is really, really, really appreciate ***. Thank you!

[Moe Bedard]

If you want to confirm what you are being told and offered............you can call the number for LoanSafe members and ask for a clarification........

1-866-255-3901

[giari3]

Update: I have been contacting Citi since January. So I have finally talked to Segun a few times. He has been very helpful and professional. So on 4-30-09, I faxed my financial statement/W-2, pay stub, hardship letter for the 2nd time (originally faxed in February. Ok, so I finally sent in my 3rd forebearance payment and asked if I can now be considered for loan mod. I also asked Segun if they are doing the 31% - 38% payment of gross pay. He said yes. I should here from him by next Friday. Okay, I think I am finally there. I hope I am. This is so stressful not knowing what will happen. I will keep everyone posted! Rosie

[lrl1010]

Giari3,

You and I are in the same exact boat. My last payment was processed on Monday so now I am just waiting for the call from Citi to see if they will approve me for the modification. I am so anxious that I can barely even sleep! What phone number are you using to check in? The last person I spoke with told me that they will more then likely offer a 40 year at 3%. This would be ideal - I am calling everyday to check status. Please post if/when you hear something!!

[giari3]

IrI1010,

The number I call is the executive number that ends with the 3901. I have been in contact with Segund. I talked to him on Friday and he said that I should hear from him by Wednesday, yesterday May 6th, but, if not I should call him on Friday. I could not wait and I called today May 7, to ask for an update. He said to call him next Friday if I had not heard from him by Wednesday of next week. So one more week. I have a feeling it might drag on a few more weeks. Oh well I've been waiting since February, what's a few more weeks. A few more sleepless nights lol. So far thanks to *** for giving me the executive #, I have been in touch with their office. I must say that everyone has been very attentive and helpful. I am now dealing with Segund which sounds like a very serious person, but he is very professional and answers all my questions in a satisfactory manner. He said that my case is under review for the Obama Home Affordable Loan. I hope he was talking about the 31-38% of gross pay loan. Please keep us updated with your loan. (Rosie)

[giari3]

Nothing yet! I called today Tuesday, May 12th and asked for my status of loan modification. Segund is the person I have been in contact in the Executive Office. He has been very sweet. He told me to call back on Friday because they were waiting for a property value report. I do not know if that is good or bad. The value of homes in my neighborhood is $250,000 we owe $380,000. I am getting very nervous with serious migraine headaches. I know that they are doing their best they can considering the amount of people they are dealing with. What is killing me is the waiting time. I know a lot of you feel the same way. Whatever the outcome is all of Citimortgage staff have been great to deal! Waiiiiiiiiting until Friday, I hope I don't have to wait anymore. Segund said they would put a rush on it! I will keep you all posted.

[Moe Bedard]

Try not to make yourself sick.....

They order a BPO (Broker Price Opinion) which is a mini appraisal on every file that is put in for a modification.......

[giari3]

Thank you *** for always taking the time to say something positive for those of us who think they are going to loose it! lol Well, I've waited this long I guess a few more weeks will go by fast.

[gmazz]

I am also in the same boat, waiting for my BPO. . .last payment made was applied to March. Payment, $3,326.49 Interest and taxes. Balance of loan $434,979 @ 7% interest only for 5 YR/6 MO ONLY. Also had extension of 2 months May, 2008. The extension interest is $5133.10.

We are self employed and because of the trickle down effect our clients have not been paying on time or not at all. We lost our anchor account in September, 2007 and we were forced to file Chapter 7, August, 2009.

My exec response unit rep, Hector asked for copies of our 1040's. I am mailing them out today! He also told me that someone would be calling me on May 11. That is when he said my BPO would be done. Of course I need to mention that was the date I had scheduled to see my accountant to file my 1040. (We had already had this scheduled as we asked for an extension) !!!

I never drove so fast to get home from my accountant hoping I wouldn't miss the call. Wouldn't you know, Dennis Keith (does anyone know who he is?) called and asked to speak to me. My husband answered and because he is not on the note, Mr. Keith couldn't give him any info. He also told my husband he has irregular hours and would not be available until May 13, between 12 noon and 9:00 p.m. As I write this it is 7:30 a.m., so I have to wait exactly 270 minutes!!! I hope and pray I can make it.

Forgot to mention we have a 2nd with GMAC, balance: $53,942 @7.12% we are late 2 months with them and they sent us a letter asking to cure default or they will start foreclosure!!!

I am really trying to stay positive but it is really difficult. My husband has Crohn's Disease and RA and because of the stress he is flaring up bigtime. We don't sleep or eat right anymore and I need to be the one to motivate him because he is so fragile. But, I feel that I am losing it. The only thing that keeps me going is my Faith in God. With Him all things are possible.

Sorry that I went on a tangent vent there but it felt ok. Thanks be to God for this site.

God Bless You All

[giari3]

gmazz: Thank you for sharing! We all have our story to tell. That's why this is a great forum to vent. Because we know exactly what you are going through. Well some times I think I am going to Loose it too! I close my eyes and take a very deep breath and say to my self "it's going to be ok". My mom always tells me when she see's me worried "if nobody died, than there is always a solution". Thank God for mom's. Please don't give up and ask questions, *** can probably answer your questions. Did you start your own blog yet? Well be strong, keep your faith up. You need to take care of your husband. Please keep us posted on your situation. I am suppose to call the Executive Office on Friday for a response. I will keep my fingers crossed. God Bless You Too!!!

[giari3]

Update: I called Segund today, he told me to call him today. So, he said nothing yet, he ordered the property value report on May 8th, and it takes about 14-15 days to receive it. I should call the following Friday if I have not heard from him by Wednesday. I asked about the Obama plan 31% of gross income. He said that they just started working with that program and that there was a lot of people waiting for this program. So once they receive the value then they can see if we qualify for the loan mod. Has any one had success with the 31% payment yet? I've read how people had their loan mod's reduced about $300 a few people $600, but none to the 31% of gross. Probably because it's so new maybe???? Well I really hope we are one of the first for Citimortgage.

[giari3]

Just me again! I wanted to share with you guys that my friend has Select Portfolio (never heard of it). They called her a couple of weeks ago and told her that her payment would go from $2642 to $2135 per month (does not include taxes/ins.) So she was so happy. She said that they never put her on a trial payment or even asked her for income or expenses. So I told her to call them again and tell them that. So she faxed her income and in 2 days they called her and told her that they reduced her home $100,000.00 from $435,000 to $335,000 and her new payment would be $1835.00 (it now includes taxes/ins.) She was so happy. I would be to. She doesn't know which program it is, but it is a loan mod. So in a couple of weeks they contact her reduce her payment automatically and then reduce even more. Well that's the kind of loan mod we all are waiting for!!!!

[SillyWorld]

I suppose this whole Mortgage bit is like the Lottery, some win and some will loose

Is kinda Sickening and unequal I think

[giari3]

Hello to everyone! No call yet. Today is our 20 year anniversary and I was hoping to get a call from the Executive Office with some good news. Not yet, I kinda want to call but, I am going to wait until Friday to see if there is any good news. I know a lot of loans have been modified, but has anyone been modified with a payment of 31% of their gross? I have not read any success yet. I think that we will be reading those type of success stories soon.

[Moe Bedard]

Happy Anniversary!!!

[giari3]

Thank you ***!!! 20 years later, 3 children, 1 dog, 1 *** and a possible loan modification. Who would of known! LOL Thank you for your time and all your great responses that are so encouraging to us! You are the GREATEST!!!!!

[giari3]

I called the Executive Office and spoke with Segun. I asked for an update because the last time I called was 5-16-09. He said they were still waiting for property value report and did not know how long it would take. I asked once again if I was being reviewed for the Obama Modification Plan, he said yes. I asked if it was the 30% payment of our gross pay, he said "no the 31%". I said okay because that's the one we need. He said to call back in a week. That Citimortgage is fairly new in dealing with that particular plan. So I will wait another week, just like everyone else. Has anyone had success with this particular Obama Mod program yet? I guess it's too soon.

[giari3]

Hello everyone, well we've decided not to send out cc payments as of this month until they tell us if we qualify for the HAM. It will save us about $400. And we will not send house payment because we cannot afford the $2777 per month that's why we are applying for loan mod. I asked regarding this, I was told just to hold off for a bit. Which is fine with me. We can catch up on utility bills/car insurance/car payment etc. Stock up on more grocieries and save a little bit. I will call until the end of June, that's if I do not here anything from Citimortgage b4 than. I am tired of them telling me not yet, wait another week. I figure once I see success with Citimortgage with the Obama HAM on this forum than I will call to see what update they have for us!! Hang in there everyone! There might be some light at the end of the tunnel.

[Jwinter81]

Best of luck! I just resubmitted last week after a four month no-pay forbearance...thinking I may be in for quite a wait now...

[giari3]

Jwinter81, thank you! Yes, we officially (I guess you can call it that) started with this process since February. Some have waited even longer and some have had success sooner. Well this will make my 3rd missed payment. So we are hoping for the HAM program. $200/$300 reduction will not help at all. I guess we just have to keep waiiiiiiting. Best of luck to you also!!! Rosie

[giari3]

Update: So I posted that I would wait until the end of the month for an update on my loan mod. I talked to Segun today and he said that they just had received the evaluation yesterday. No guarantee's and we were going thru the preliminary stages. I asked what did our house value come in at, he said 320,000, we owe $381,000 so I don't know if this is good or bad. The houses around my area have not been selling period, but asking prices are between 250,000-275,000 so I don't know if the 320,000 is good or bad. So I will call next week. I told him that I was a LoanSafe Member and have noticed that their is no post's of CitiMortgage actually getting the "Making Home Affordable" loan mod. He said this was true because the President had just announced it in March and they are still working out the details. So I will be waiiiiiting, just like the rest of you! Good luck to all of us! I have a feeling this might not end good for a lot of us.

[giari3]

UPDATE: Hello everybody, so I called today and I was told that they were waiting for final approval and would then send me the loan doc's. When I receive them, (they do not know when they will be sent out to me), I will be on a 3 month trial payment of approx. $1600 (includes tx/ins.). I was previously on a 3 month forebearance plan for $2195. Our gross is approx. $5100 per month. So I was so happy, but will be happier when we finally receive the actual loan doc's. Okay, not so happy anymore!!! So the bad news is that my husband which works for the State of CA might have another 5% deduction within the next 2-3 months. He recently already had a 10% deduction! My approx. income is $700, it has been so slow, (I work from home). So my average income will decrease. So let's say they approve this, than I will have to go through all this again because of change income. If they approve it this time, they might not approve it in the future with a decrease of both incomes. OMG does it never stops. For now I'll take it if they give it to me! I guess I'll have to worry about what happens later later lol. Will post when and if I receive loan doc's. Good luck to everyone including myself!!!!