Found this wonderful forum while trying to find some answers on what to do next with my mortgage. Currently we are 3 1/2 months behind on the mortgage. Ive been reading on loan modifications and forbearances, etc. and wanted to get an idea on how to proceed when I call Citi. I should have been talking with them months ago, but I was just banking on getting some money that I could use to make the payments current, but alas, that didnt happen, so here I am, in dire straights.
So, basically, when I call them, what is the best option for me to pursue? I was reading about forbearances, but if they put a large balloon payment at the end of it, I wont be able to pay it. If I am this late on the mortgage is a modification still an option? ( I can make a new payment in about 6 days for one month). My wife lost her job last year and had been receiving unemployment, so we had a decrease in our gross pay, this is how we got so far behind. Im just hoping citi will work with us since we are so late!
This has been so stressful, and Im hoping they can help us out a bit!!
also, wanted to add its an FHA loan, so not sure if this makes a difference or not!
Thanks soooo much for any advice!