Due to paycut I applied for HAMP in June. HAMP request was denied after I made four trial payments (I was "prequalified in error" according to Citi, 1st mort pmt is right at 31%) so now I am trying for a Traditional Mod. I sent in all my financial info with a hardship letter to Citi (Attn: Connie Hollis-counsellor) via UPS Express Mail on 11/09. According to UPS tracker, the package was received morning of 11/10.
Of course I don't know what to expect & after the HAMP mess I trying to stay positive that I will get some help. My gross is $3830, net is $2797. After cutting ALL unnecessaries, I am running in the red each month about $250. No savings left, no nothing to help in case of emergency, etc.
I have 1st ($168K @5.25/30yr) and 2nd ($68K @9.14/30 yr), both Citi/Freddie loans. 1st pmt is $1084 with escrow, 2nd pmt is $562. I'm in CA, house is upside down about $90K.
Anybody have predictions as to the help I might get, or what I can expect next from Citi?
Thank you all.