Citi Mod Success- Thanks LoanSafe and President Obama

[texasgiants]

I just joined Loansafe 2 days ago. I am so grateful that I stumbled on this forum because it provided me with the necessary info to take the appropriate steps to finally resolve our loan modification.

My husband started the process back in 7/09 when he called to see if we could do a refinance. However, in Texas, because we have a pool loan, the refinance could only be done by rolling in the pool loan with the home loan. Since property values had decreased so much, they wouldn't refinance because then the 2 loans were worth more than the property.

My husband then proceeded to ask about other options since we were current at the time, but could foresee some trouble ahead. The nice rep on the phone offered the Obama plan and took all the info and determined that we were pre-approved. He said to skip July's payment and put us on a trial period payment plan just like everyone else while the paperwork went to underwriting.

Over the last several months, there were many times we were asked to re-fax the same info to so and so and then told that everything was moving along as planned. Periodically, we would check in and the same answer was always given: "It's in underwriting and you should receive your paperwork any time now."

Then, around the middle of November, we received a letter stating that we were in default on our loan and must pay $15,000+ by 12/25/09 or the loan would be accelerated. We immediately called to find out what this all meant since we had been paying the modified amount every month on time or early. We were told by another friendly rep that this was normal and not to worry because the monthly payments were in a hold account and to just ignore the letter. Again, he assured us that everything looked good and it was just a matter of time before the underwriter was done with the paperwork.

However, on 12/7/09 we received a letter from Citi stating that we had been denied. We called to find out what happened and the rep said she didn't quite know why, but that it looked like it was denied due to my husband's retirement 401K, which should not be included by the way. Later on, we called back again to see if a different rep could supply a more explicit answer and this time our rep said the same thing, but that she showed the loan was already under review for reconsideration.

Still not happy with this result, I began scouring the internet for help and answers. I came across this forum and read every single post related to Citi all night 12/7/09. I found some very valuable contact numbers related to the Executive Response Unit and info from others about contacting congressmen and government officials.

So, on 12/8/09, we called back to speak with someone in the Executive Response Unit. This person said that she couldn't see why were denied and opened a case to be reviewed and stated that we would be contacted within 24 hours.

In the meantime, I composed a letter explaining our frustration with the system and expressed our need for help. We faxed and emailed this letter to the Attorney General, our state congresspeople, President Obama, Vice President Biden, and several individuals at Citi that we had contact info for.

Around 2:00 today, I bugged my husband about calling Citi one more time to see if any more info had come down the line. Reluctantly, he called and talked to a rep who initially told us all the same info, but then told us to hold on a minute. She literally came back on the line within 1 minute, unlike the usual 20 minutes hold we experience, and said that we were approved for the Obama plan, that the payments had already been processed, and we were good to go. My husband asked her to repeat this all again as he just couldn't believe it.

After hanging up with this rep, we received a phone call about 10 minutes later. We though it would just be another rep. However, this person was calling to notify us about the change and to let us know that our loan would be modified immediately and that we now had a new rate of 2% for the life of the loan. She then stated that we must have spoken with someone high up. My husband asked, "why?" She said because she only handles presidential escalations. He said, "You mean like the President of Citi?" She said, "No, sir, the US President." She said that she would personally be handling our loan modification and gave us her full name, contact number, and assured us that all paperwork would be sent out shortly and that she had already notified underwriting to take care of it.

Could this really be? We have agonized over this process for the last 6 months. All it took was reading some info on this forum and faxing our story to our government leaders and just like that we are approved in a matter of hours.

I feel like we never would have known how to proceed without the info we found on this forum. Thank you so much for sharing so much with your members free of charge. I hope others can utilize our strategy and find some success as well.

[Sunbeam]

Wow! This is awesome! You had someone from the office of the President of the United States of America intercede on your behalf. What a brilliant story. By the way, I am very very happy for you!

[jack c]

dear Texas Giants, I'm just a little ole florida shrimp, but could you post those #'s for the rest of us, like the one to the president? thank you!!! jack c.

[davephx]

If true... actually this is a huge concern. Why on earth does it take "The President" to get us mods instead of following and telling us precisely why denied.

What is amazing is also the fast action. You may be one in a million or more likely 100 million if it really was the White House getting involved. But the 99,999,999 rest of us are not likely to be so lucky.

Maybe it was good timing with the Congressional hearings. But good for you, it just seems so implausable that the White House would be so helpful in an individual situation. Now they will get a lot more faxes and pleas I bet!

The White House will be on my panic list if I am denied!

[davephx]

texasgiants

Would you be willing to share your e-mail and fax list like some others have done for Chase etc?

Obviously we should not complain unless we know we have a legitimate issue, especially if denied and they can't give us a reason that sounds legitimate with us that have read every HAMP/FANNIE/Treasury directive and know the rules. But if they are denying we want to logically argue our case to the right people.

I was surprised that when I complained about my prior issues to McCains office they passed on to OCC and Citi actually had to reply about my case and McCain's office sent me a copy. Didn't really address the issue just that I now was on the trial again (long story) and it took about 3 months. But those of us with foreclosures on hold we may be desperate quicker.

You were lucky in that you didn't actually have a foreclosure notice yet just the preliminary notices and had time.

We are very glad it worked out for you, but many of us are looking for what to do if we get similarly denied yet hope we won't need to go into desperate panic mode!!

[texasgiants]

Here are the fax numbers and email addresses we used:

Executive Response Unit found on loansafe forum- 636-261-7200 (after calling, was given this # for future reference- 1-800-695-0384)

Email found on loansafe for loansafe members- homeownerhelp@citi.com

White House Fax #- 202-456-2461
Vice President Joe Biden
The White House
1600 Pennsylvania Avenue NW
Washington, DC 20501

Texas Specific Contacts-
Attorney General Greg Abbott- greg.abbott@oag.state.tx.us
Pete Sessions- Fax: (972) 392-0615

CEO at CitiMortgage- 301-696-5431 (line continued to ring busy so we never successfully faxed to this number)

Emails for 2 Executive Response Members:
John.j.godinet@citigroup.com
Leann.luhn@citgroup.com

The letter that I composed was less of a complaint, but more of an explanation of events and an expression of frustration at, not the lack of help, but the lack of consistency and the excessive amount of time it was taking to resolve one homeowner's situation. We got so many different answers and were always told to check back in a couple of days, a couple of weeks, or were told that we would receive a call back, then never did. This type of treatment just became unacceptable, especially when we had a legitimate situation that fit exactly into the Obama plan.

I agree that it should not take these measures to resolve any of our legitimate mortgage issues. However, we have learned in the past that if you want something done right, you have to go to the top. For example, my husband purchased a pair of Oakley sunglasses that broke 2 months later. He returned to the store with a receipt and was brushed off. He wrote to the company and was again brushed off. He wrote to the CEO of Oakley and was sent an apology letter along with a brand new pair of Oakley sunglasses.

It is unfortunate that this is the case, but we just feel like that is what these people are here for. These elected officials are here to serve us. From the congresspeople, to the Attorney General, to the White House, do not give up your fight. Obama put the plan into action and, unfortunately, the plan is being underutilized not because homeowner's are requesting the plan when they don't truly qualify, but because these mortgage companies don't have enough qualified help to properly process the approvals. Instead, they just deny people and plan to brush them off. They figure most people won't continue to fight or will just accept foreclosure.

My husband also spoke with an attorney in Dallas to find out what our options would be if they did not modify the loan prior to us learning of the good news. For those of you in Texas, we were told that if you have not received a foreclosure letter yet, you can contact a civil attorney and they can file an injunction against the mortgage company to prevent them from filing a foreclosure. This will force the mortgage company to workout a reasonable plan. This is an alternative to filing Chapter 13 bankruptcy. If you have already received a foreclosure letter, the attorney suggested to file Chapter 13 bankruptcy to stop foreclosure.

In the end, I don't really know which of these contacts helped. All I can reference is the personal rep that called us and specifically said that she only handles presidential escalations and that, as of 12/7/09 we were denied and, as of 12/8/09, we were approved and new payments were populated immediately, not on a trial basis, but permanently. I can still remember the look on my husband's face when she told him that presidential escalation referred to "US President." I could hear her ask my husband if he was ok and he replied, "Yes, I'm just speechless." She said you are taken care of now I will personally handle everything from here.

I really hope others will have a similar outcome.

[jack c]

Texas Giants thank you for your infomed post. it was very kind of you to submit. Athough I am happy for you, but feel even further beat down by my sititution with citi bank. I've been lied to so many times by so many reps. My servicer told me my monthly payment back in Nov. would be $750. a month which was at the high end of what we could live with, only to find out the payments would be $875. a month and told that's the best he could do. I guess it's the being put on hold several times during a conversation with these folks and having there story change as we go along with the phone call is just sickning. I grew up in Miami and I know when I'm being had , by an amitrure no less. My wife and I are both disabled and lost our jobs 2 yrs. ago due to the economic downturn, we want to work and always have. so I know $875. doesn't sound like much, but when you only make $2250. a month on s/s dis. and after meds, gas, food and everything else it is a lot. We had our own landscaping business for 35yrs. and made over 6 figures a yr.and now to be in this postion is very strange and theres not a lot we can do about it. We have cut ever corner and all that's left is to get this loan mod. finished. and we could live happly ever after too. We feel like we are in a shark tank waiting for someone to reach in and save us. That's not what the pursuit of happiness is supose to be like.....that's not what the forefathers meant...these sharks have got to be stopped, keep fighting people !! never give up, don't throw in the towel..our homes are an American right !!! jack c.

[texasgiants]

Hi Jack C,

I'm sorry to hear about your situation and unfortunately it is a familiar one. I don't mean any disrespect to the lower level workers at the banks, but they just don't have any power or authority. I feel like the best way to be successful is to bypass them and go straight to the top even if that means the White House. This plan was put into place by the government and it is meant to help the homeowner, although the banks would prefer to focus on themselves. I realize that this plan puts a lot of stress on the banks, but that is just the nature of their business. Reaching the right people will get you attention, which means forget about all the stalled calls with the customer service reps.

I can't believe we didn't do this sooner; although I'm not sure it would have had the same effect because the government is really pushing for many approvals to take place before the end of the year. So, we may not have had the same response 3 or 4 months ago. Please write your Attorney General, congresspeople, and White House. Let me know if you need help locating numbers or email addresses for the appropriate people in your state and city government.

Also, I don't know what Florida law states, but consult an civil attorney since most consultations are free and can be done over the phone, and find out if you can do something legally to force the mortgage company to work with you.

Finally, I forgot to mention that we did also contact Fannie Mae yesterday. We were told that it sounded like we were being "jerked" around by Citi and they pushed for an escalation on their end. Whether that really means anything, who knows, but we figured the more people we could flood with calls on our end, the better opportunity we had to actually see some results.

Hope this helps.

[jack c]

Thank you TexasGiants !! i really appreciate your kind support..and offer to help us. I have begun to fight !! I emailed the excutive team whom I have dealth with many times in the past, they are a good place to start. Hope to hear something soon. I will call next. I want to clarify that I am dealing with a negociator, he's suppose to have all power to write my mod anyway he feels, it's just that that's how he gets his bread buttered and there in lies the problem...plus he can't keep his lies straight..I'm hoping someone with the excutive team can take over my account from him. That would be all I need at this point, you'd think? It would be a shame to forclose on someone who can pay , but the bank was just to greedy to take my money..oxie- moron? When I wore a younger mans clothes I was a street muscian...I had a guitar and a golden retreiver and traveled all over America for 5 yrs. it was a great life..but now all I have to do is convience my wife of that..not to mention my 5 daughters....humm...oh well back to reality...for now...jack c.

[jack c]

Texasgiants I bet you feel like you won the lottery or something? you shot right to the top of the heep..If you want to help me get some numbers I could use your help. We live in Marion county, fla. It just would be easier if You could help me find these numbers...thank you !!! don't mess with Texas that should be your call sign !!! sincerely jack c.

[texasgiants]

Hi Jack C,

Here is the contact info I found for Marion County, Florida. I wasn't sure which district you fall under so there are a few representatives and senators that cover parts of Marion Co. You may need to call to find which one specifically represents your part of Marion Co.:

Attorney General Bill McCollum
Office of Attorney General
State of Florida
The Capitol PL-01
Tallahassee, FL 32399-1050
Ph: 850-414-3990
Fax: 866-966-7266
Email: ag.mccollum@myfloridallegal.com

See this site for a letter that the Attorney General wrote to the President of Bank of America back on 11/17/09 regarding the difficulty homeowners are having resolving mortgage issues with banks. He seems to be a great contact because he seems to be very sympathetic to the homeowner. Real Estate Blog - Florida Attorney General, Bill McCollum, Pleads with Lenders to help.

List of Senators-

1. Steve Oelrich Dist 14(Serves Alchua, Bradford, Gilchrist, Union, and parts of Columbia, Levy, MARION, and Putnam)
Fax: 352-955-6262
Ph: 352-375-3555
Email: oelrich.steve.web@flsenate.gov

2. Carey Baker Dist 20 (Serves parts of Lake, MARION, Seminole, Sumter, and Volusia)
Fax: 352-742-6492
Phone: 888-567-5577
Email: baker.carey.web@flsenate.gov

3. Evelyn J Lynn Dist 7 (Serves Clay, MARION, Putnam, Volusia)
Fax: 386-238-3179
Phone: 386-238-3180
Email: lynn.evelyn.web@flsenate.gov

List of Representatives:

1. Charles Chestnut IV (Serves parts of Alchua and MARION)
3141 NW 13th St.
Gainesville, FL 32609-2186
Phone: 352-955-3083
Email: charles.chestnut@myfloridahouse.gov

2. Kurt Kelly (Serves parts of MARION)
315 SE 25th Ave
Ocala, FL 34471-2689
Phone: 352-732-1313
Email: kurt.kelly@myfloridahouse.gov

3. Larry Cretul (Serves parts of Alachua, Levy, and MARION)
6911 SW Hwy 200
Ocala, FL 34476-9210
Phone: 352-873-6564
Email: larry.cretul@myfloridahouse.gov

4. H. Marlene O'Toole (Serves parts of Lake, MARION, and Sumter)
916 Avenida Central
The Villages, FL 32159-5704
Phone: 352-315-4445
Email: marlene.otoole@myfloridahouse.gov

Also, don't forget the top of the list, Biden and Obama:
White House Fax #- 202-456-2461
Vice President Joe Biden
The White House
1600 Pennsylvania Avenue NW
Washington, DC 20501

We have had 2 phone calls today letting us know paperwork was ready and would go out today via next day UPS. And, we were given an absolute final payment amount which was only $3 more than what we were given yesterday so we feel very secure with this process.....FINALLY!

[jack c]

Texasgiants, thank you so much for your help with this and you will be blessed in return even more...I am starting right now on these reps. sincerely jack c.

[davephx]

Texasgiants - GREAT thanks for sharing all the wise info and contacts.

Just to clarify - it was Biden only at that big White House, you faxed - not the taller guy.

Actually Biden's office probably doesn't get the flood of mail that O does.

[jack c]

texasgiants is that the case you faxed to the whitehouse fax numbers you gave us? too bad they don't have an email address, too much spam probally. thanks again, and let us know when you get your doc's and when you finally get your loan modified down at the bank o.k? sincerely, jack c.

[jack c]

Texasgiants, wow I just contacted my local senators office, told them your story and they either thought it was a crank call or I was nuts. so you see you all really do have a miricale going for you right now. They also have a nice form letter they are going to send out to me to fill out. I wonder which pile I'll be under? Hey buy a lottery ticket !!! second thought, buy me one too....jack c

[texasgiants]

Hi Jack C- The fax worked better for us only because the email would only accept up to 2000 characters and our letter was longer than that. My husband said that the fax is scanned in and posted as a digital file. Just FYI- CNN reported this morning that Citigroup received $48 billion from the bailout so there should be no reason why Citi is not following through on more modifications. Also, the Texas AG contacted us yesterday and let us know that they filed an investigation with the Consumer Protection Agency for violation of Consumer Rights.

Again, I would just recommend trying to get your story to as many people as possible. There are people that want to help out there, you just have to hit the right nerve beyond Cit's lower level staff. And, in particular, I would connect with your Florida AG since he recently took on Bank of America and seems very sympathetic to the lender/homeowner situation going on right now.

And just to further clarify, my husband only faxed Biden at the White House. Although, we have not heard anything from Pete Sessions' office, so it is possible that he pushed something through on his end via the White House. I don't know how things progressed so quickly, but what took us 6 months, took only hours to get approval. Maybe it is worth researching more about how presidential escalations take place. However, we did have a legitimate request and met the criteria and we had been denied due to my husband's 401K which cannot be considered in the equation so someone just plain and clear messed up. Every rep kept saying it, but no one was doing anything about it.

My husband, when he spoke with our case manager yesterday, told him that she did not see anywhere on our file where a denial letter had been sent out or a letter threatening us to pay back the difference between our trial payments and our regular payments. This is just further evidence that this is a very flawed system and the right hand doesn't know what the left hand is doing. She said this was the easiest loan she has modified. We didn't want to come back with a snide remark because we want to sound grateful at this point, but it's hard not to think how enduring 6 months of this up and down hell is considered easy.

Let me know if I can help in any other way!

[texasgiants]

Jack C-

I wouldn't wait around for a form letter. I would just type up your story and begin sending it out and plea for help from your elected officials, that's if they want your vote again next time around, right?

Also, you might try Phyllis Caldwell, the Chief of the Homeownership Preservation Office. I found her through the http://www.whitehouse.gov website. I couldn't find a direct line for her, but you should fax your letter to the following address and put it to her attention:

Department of the Treasury
1500 Pennsylvania Avenue, NW
Washington, D.C. 20220
General Information: (202) 622-2000
Fax: (202) 622-6415


I found this interesting article: Making Home Affordable Campaign to Help America?s Homeowners | The White House

There is a link for the this site: Making Home Affordable - Home
This is help that is supported by the Treasury Dept., White House, and HUD. If you go on the site, there is a link on the nav bar to locate a counselor. Once you click on the link, it takes you to a map, then you can click on Florida and find a counselor nearest you. Need urgent help? Contact the Homeowner’s HOPE^™ Hotline: (888) 995-HOPE

[jack c]

TEXASGIANTS , WOW !!! thank you so much for the bevey of good contacts...will jump on this immediately !!!! Well you won't believe whats going on with citi and me now..I appealed to a higher up exective team member, Derrick at citi, he went over my docs with me over the phone, it was like pulling teeth to try and get him to open the darn records and read what actually his underling is trying to pull !!! personally I think they all are the same and just lie about who they are etc. but anyway all he wanted to do was get me all exicted about the fact that our doc's are on the way!!! and I should sign them right away and get them back to them asap...well I said lets first go over the doc's so I can better understand what your so darn exicted about...he himmed and hawwed and didn't really want to get into specifics..so I dragged it out of him one step at a time. First I said how much is my monthly payment going to be? He said $875 , 40%. I told him that Jamar Jenkins told me it would be $750 ,33%. a month back in Nov. he said well we had to change a few things since you don't quilify for any programs but the one last resort that I'm offering you. I said that's interesting, lets go on to the interest rate, he said 2% for 5yrs. then 4.75% life of the loan. I said most banks are offering 2% for the life of the loan. He said he never heard of that. Interesting I said, well then it's a 40 yr. loan mod then right? He said no its for only 30 yrs. and I don't quilify for 40 yrs. I said if I don't quilify for 40 yrs. then nobody should...he said just sign the doc's as soon as you get them and get them back to us with your 1st payment due Jan 1 , 2010. I said so if I don't sign the doc's then you'll start forcloser right? he said not exactly right away depends on your state and the laws etc....how much time do we have before you throw disabled people on the street? I don't think he could handle the reality of what I just said and began tripping over his words ...I said so right before you throw us out maybe we can bartter a little to try and save our home since we are able to pay a fair rate based on the info. laided out by the government and the banks? he said he wasn't sure about that..so I will defenately get started with the new contact info. you just gave me. btw I faxed the whitehouse yesterday and that was exciting !!! I'm hoping I can get a counselor from making home affordable today...also will contact my ADA lawyer to see if there's anything we can do about descriminating against us? he'll know if there is anything there that we can use. Thanks again, you don't know how much it means to my wife and me with one leg, but I can still work sometimes...and to have someone who truely cares about what were going thru..God Bless you both for everything...sincerely yours, Jack c....

[jack c]

Texasgiants, Wow!!!! so I faxed my story to the whitehouse 2 days ago right? well yesterday I got my loan mod doc's delivered on my front porch!! The monthly payment went way down, more than I'm willing to share here and 2% interest for the life of the loan!!! I'm so exicted...we have to pay a small down payment by jan 1, 2010. now I don't know if it was the whitehouse fax or a miricale, because no one called me from the prez. Christmas truly is the season of mircales....thanks for all the info. but I don't need it anymore...wow, wow, wow...jack c.

[rbishop]

WOW!!!!!! really? thats fantastic!! I want so much to believe that the president, or whoever, has the time or the care to help like this.
But i very much believe in help from above. Much higher than the president...who ever it was, wow....congrats, you surely got love from somewhere!

[texasgiants]

JackC- I am so happy for you!!! What great news right before the holidays. I don't understand why it takes these kind of measures for those of us that truly qualify, but I'm sure glad it worked. I hope that others will find similar success whether it be from the White House or Citi staff. Congratulations!

[Elora123]

Awesome news! Gives hope to those of us waiting in the wings! Merry Christmas and a Much happier New Year!

[jack c]

Thank you everyone, I'm still picnhing myself...hard to believe..every 2 hrs. I just pick up the docs and read them again..my wife is still in shock...will get ups to pick up monday a.m. I don't know what to do with myself, I was ready to do major battle..and all of a sudden the wars over!!! Thank you God..and God bless you all and keep fighting it works , if you work it !!! jack c...and it's like a wheelborrow it only moves when you push it !!!

[SillyWorld]

Thank you everyone, I'm still picnhing myself...hard to believe..every 2 hrs. I just pick up the docs and read them again..my wife is still in shock...will get ups to pick up monday a.m. I don't know what to do with myself, I was ready to do major battle..and all of a sudden the wars over!!! Thank you God..and God bless you all and keep fighting it works , if you work it !!! jack c...and it's like a wheelborrow it only moves when you push it !!!

Do you have the Fax Number..???

[jack c]

Hey silly, the fax # is 202-456-2461 The Whitehouse...just address it to the president...good luck !!!also, I get the vibe citi is trying to get as many of these older ones finished before the end of the year..jack c.

[jack c]

sent off the doc's and the check..waiting to hear everything went thru allright..will keep u all posted, thanks again for all your support and have a merry Christ-mas and blessed new year , anyway...God bless each and everyone of you brave souls...keep fighting and don't give up 5 mins. before the mircale gets here...all the best Jack C...

[SillyWorld]

Hey silly, the fax # is 202-456-2461 The Whitehouse...just address it to the president...good luck !!!also, I get the vibe citi is trying to get as many of these older ones finished before the end of the year..jack c.

Yes and how strange it is that I just happened to get an offer BUT...It is no more than a Foreberance, and accordin to NACA thats for Unemployed Peeps, I been working same job last 20 years

I just set up a phone app, for Tues, I do not want to deal with any balloon payment if they choose not to give me any type of restructure

Seems like a Silly NACA offer to me

[chasepmt2hot-firefighter]

Let's see if they will reply the same if the loan is serviced through Chase? Might not be so easy... The jury is still out...

[rbishop]

sillyworld,
i hate to see you going through this. you helped me by answering my questions keeping me from making mistakes while i went through my trial period.
i just wish they would come through for you!
Keep the faith
im praying for you...: )
rb

[SillyWorld]

sillyworld,
i hate to see you going through this. you helped me by answering my questions keeping me from making mistakes while i went through my trial period.
i just wish they would come through for you!
Keep the faith
im praying for you...: )
rb

Thanks Man, I have an appointment with NACA on phone TUEsday, Citi has made an offer for me to have a Forbearance, I cannot see why I been up to date on my mortgage since the buy...Never late thats the first thing paid every month

[rbishop]

sillyworld...

will good luck on tuesday!! keep us posted, i will be looking for your post to hear the good outcome!
rb

[mikedonovan85]

Thanks Man, I have an appointment with NACA on phone TUEsday, Citi has made an offer for me to have a Forbearance, I cannot see why I been up to date on my mortgage since the buy...Never late thats the first thing paid every month

sillyworld, it may be that the investor insists on loans that are not current, forbearance may be techically a delinquency. i rejected a forebearance and looking back, i am trying to get it again as after it they may do the mod. what is the amount of the forbearance compared to your current payment (do you pay piti currently). what is the percentage of this payment rel. to your gross ? if its a good number, you may want to consider taking it and then towards the end, fax in your docs and see if they can make it a mod

[SillyWorld]

No way they say $600.00 a month that 3 times less thaqn orriginal payment, they will balloon me then I would be stuck, but I will see when I get the phone appointment, it is 24.9% of my Gross something very wrong, 30% would be a good number

[SillyWorld]

I will also tell NACA I do not have to be late to get a MOD, NO way on Earth, they are suppose to MOD those that are near defauilt

[SillyWorld]

Here is whats shown was suppose to be a restructure

Type:

NACA Forbearance

Term:

3 months

NACA is pleased to provide you with a solution from your Servicer.

The mortgage payment for the solution from the Servicer should be close to that requested with the NACA Submission and in line with the following:

1. NACA Restructure - For homeowners with stable income. The mortgage payment should be locked in for the existing term of the mortgage without any increase.
2. NACA Forebearance - For homeowners who are unemployed. The proposal should be a minimum payment until you obtain stable income. Once you obtain stable income, you can then request a NACA Restructure.

Provided below is the proposal from your Servicer and the comparison to your NACA submission. Please review. If the proposal is not acceptable, we will continue to advocate for your long-term affordable solution. If there are significant changes with your Affordability Budget please make a phone counseling appointment with a NACA counselor to update your budget and make a revised submission to your Servicer.

Please review the below proposal. Since our system provides a direct connection between you and your Servicer, we have not reviewed this proposal. You have the option to accept or reject the proposal. You can also request a follow-up call from a NACA Negotiator.

• Accept – You should select Accept if you are happy with the proposed solution. The Servicer will send the necessary legal documents for you to sign. If you have already received your solution, we will update our records. CONGRATULATIONS on your affordable solution like the many thousands of homeowners that NACA has already assisted.
• Reject – You should select Reject, if you are not satisfied with the proposed solution and want the Servicer to further review. This includes instances where the proposal is not what the Servicer has originally offered at a NACA Save the Dream event. They must adhere to what was originally offered. Make sure you state that in your comments the reason for rejecting the offer as well as any other relevant information. While we know that you may have been waiting awhile, we will continue to advocate for your long-term affordable solution. It may be necessary to contact the investor who owns your mortgage who the Servicer is representing.
• Follow-up - If you want a NACA Negotiator to contact you to discuss the proposal, you can schedule an appointment for a negotiator to contact you by clicking here

[jack c]

Hey Texasgiants, heard any good news lately? keep us posted, so we can learn more about the otherside...sent off my docs with the check 2 days ago, everything should be final now...a great way to wrap up for the new year...it feels great, like a giant boulder off my neck...hope yours goes thru soon, God bless and happy new year!!!better days ahead !!! jack c.

[SillyWorld]

sillyworld, it may be that the investor insists on loans that are not current, forbearance may be techically a delinquency. i rejected a forebearance and looking back, i am trying to get it again as after it they may do the mod. what is the amount of the forbearance compared to your current payment (do you pay piti currently). what is the percentage of this payment rel. to your gross ? if its a good number, you may want to consider taking it and then towards the end, fax in your docs and see if they can make it a mod

I am not sure what to think now NACA account shows trial period..???

• Proposal Approved – you have accepted the proposal and submitted the signed documents. Since these are legally binding, you need to ensure that they reflect the proposal you accepted:
• Trial Period – you need to make your payments on-time for the three-month trial period for the agreement to become binding for the remaining term of the mortgage;

I do hope its foreal and not at the end they say I do not have enough income as I have the same job, same house just less hours for last year and this year...

[davephx]

Let me get this right - Citi - FHA - NACA with a trial.

Very confusing, but if it is NACA I think this is the first time as I recall Citi ever doing NACA but trials and you have the more complex FHA issue.

Hopefully this is showing at least some good news on Citi which seems to have actually approved more HAMP mods that most others..

[SillyWorld]

Yes but I went through this back in March with Citi, NACA say's the Docs are comming FEDx for me to look over and sign...We will see I may still decline the offer if there is a Balloon payment if they do not go Perm

[davephx]

If you have FHA since it has the FHA insurance I thought could only do FHA-HAMP since no investor would want to give up the FHA insurance.

Back in March the FHA option was not nearly as desirable as the current FHA-HAMP.

FHA-HAMP does have the 3 month trials so this may be what your getting.

BUT BUT BUT - they get to 31% by the partial claim unlike regular HAMP.

There is no 2% its about 5% fixed and 30 yr maximum term. IF that gets you to 31% they stop there. If not the offer the partial claim which is the balloon on back end up to 30% of principle.