Okay, I am seeking all of the wisdom from this great sight. I have learned much but still, I am not quite sure what the outcome will be.
First, My husband and I are getting a divorce. I was a stay at home mom with a part time job (Realtor) making very little. When the divorce was filed, my husband stopped paying the household expenses. I called Citimortgage, and our other lender, Harris Bank (2nd loan) and was advised like many of you to wait until we were at least 3 months behind. (Harris, not so lucky...nothing set up for 2nd loans that arent' GSE banks - at least not yet they say).
Okay, so I call in September and I am accepted into a trial loan modification. Part of my qualification was child support/alimony, and since I didn't have a court order yet, I was to wait until I did and submit all of my paperwork at once but to continue to make all my trial payments. Court delay, Court delay, etc. Finally received court order and submitted all of my paperwork to Citimortgage in December (12th to be exact). Now, I must add, I was told by some reps to submit a Quit Claim Deed (which I have; signed and recorded by the court), but the last several said to hold off b/c it isnt' necessary. What to do, what to do???
I am in underwriting now, and I just received a packet (regular mail Feb 2nd) for a Loan Assumption Application. The process says it will take 90 days. Does that hold up my Loan modification? Do I have to wait until the Loan Assumption is complete (90 days) or does my underwriter - unknown name as of today - just need to see that I have submitted the forms? AND??? Does it matter that my credit is wacked now that I have been late on Mortgage 3 months and modified payments for 3 additional months?
OOH!!!! I failed to mention that there is a $900 NON-REFUNDABLE FEE associated with this Loan Assumption. I would really hate to pay that (fee must be paid at time of application) and find out that I no longer qualify for the loan modification.
Any and all advice is appreciated. Also, if there are suggestions of whom and what I should ask at Citi, that would be great.
If we don't have eachother to lean on, who do we have??