Loan originated with Citi in 2004 was sold to selene last year in July
5 yr IO loan
Right now payment is 1214 a month at 4.875 adjusting every year
I just got off the phone with them and they do not participate in any gov. programs they have an in house mod and it is a 6% interest because they are not a loan originator
they did BPO in Oct. it's 148,300 but homes here are lower than that and are not selling
owe 256,000 plus 22,520.52 in default.
Our payment before it adjusted was 1040 IO
This is what they told me "Selene" is a small Co. not a big bank and we will get your permanent mod 1 week after you make 3 payments.
they also want a down payment of 2,200 plus 3 months before they consider my mod
My question is has anyone dealt with them?

my husband income was just lowered to $800 times 52 divided by12 I'm at 3467 a month

any advice would be appreciated thanks so much
~Estela