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Last Shout - Posted by: Moe - Monday, 06 October 2008 10:07
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| Citi Mortgage & Citi Financial Homeowner Help Center The great people at Citi Mortgage and Citi Financial (which are now merged) have contacted us at Loan Safe and asked that we make sure that their customers know that they are here to help them. We at Loan Safe believe 100% that this is true and will help facilitate this via Citi's new forum. |
This is a discussion on Citi Mod Process within the Citi Mortgage & Citi Financial Homeowner Help Center forums, part of the Real Homeowner Stories of Real People Trying to Stop Foreclosure and Get a Loan Modification category; Aloha to you all, I joint this side to find more information about City Residential bank. We are here in ...
07-06-2008, 05:28 PM
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Join Date: Jul 2008
Posts: 18
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Citi Mod Process
Aloha to you all, I joint this side to find more information about City Residential bank. We are here in Hawaii, facing the same problems like the rest of the country. When not even worse, because our economy is based on tourist. And after closing of Airlines etc. The future is not good. We are also in the same mortgage mess. Believe me not only sunshine in paradise.
My husband and I bought our small condo 5 years ago, our only residence ! And refinanced to one of this bad loans. (Arm 2/28).What we can no longer effort. Now we are facing- , refi, sale or mod process with CITi. We are tired.And don't know anymore.
What are the time frame or possibilites to start a Mod Process with Citi. Please any one know. Thank you.
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07-06-2008, 05:38 PM
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Moderator & Chase Success
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Join Date: Dec 2007
Location: Colorado
Posts: 5,346
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Re: Citi Mod Process
Aloha Ozzyboy,
Welcome to the forum and thank you for joining..........
I would like to ask a bit more questions before offering advice if that is o.k......
What is the interest rate at right now?
When is it going to adjust?
Is it interest only?
Are you behind on payments?
If you can not afford the payment now before the adjustment you might have to ask for other options from Citi...............because they will require a surplus of $100-$250 left at the end of the month when you put together your household income and your household expenses........
__________________
>Cat<
Email: Cat@loansafe.org
The LoanSafe Advocacy Group™
The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem.
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07-06-2008, 05:38 PM
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New Member Guide & Fighting Homeowner
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Join Date: Jan 2008
Location: New Jersey
Posts: 982
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Re: Citi Mod Process
Hi Ozzyboy welcoem to our forum:
I wanted to stop in say hello and assure you, which you have already mentioned, you are not alone. Shortly someone will be reaching out to you with some sound advice/sugestions. In the interim please hang in there and know that we are here for you.
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07-06-2008, 06:08 PM
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Member
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Join Date: Jul 2008
Posts: 18
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Re: Citi Mod Process
Dear Cat,
Our Loan Amount is 355K Since Feb 2008 we are paying 3400.- mntl. Interest rate is now 10.99%. It will ajust in sept. 2008. and our cap is 13.99%. Right now we were on time but with the economy change we did not paid July yet. It is a struggle since Feb. My husband has still his job and i work in the hotel industry counting on tips mostly and my second job I was laid off in May and receive partly unemployment money. We worked also since last Now,2007 with a local broker to refi, but we waited so long to avoid the pre- payment penaltie. And as of last week when our paperwork should have gone the underwriter for closing, the broker informed us his bank closed. We got in contract with a new broker and still have little hope. To receive a fixed mortgage rate.
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07-06-2008, 06:44 PM
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Moderator & Chase Success
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Join Date: Dec 2007
Location: Colorado
Posts: 5,346
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Re: Citi Mod Process
I am in the hotel industry too.........so I can relate........the economy has caused the industry to slow down quite a bit this year......... 
If you are able to show the surplus then what you can do to get started on a modification is to put a hardship letter into the body of an email be sure to include your loan number and contact information (there are examples in the Homeowner Toolbox to the left of the forum) then you need to send it to each of the email addresses below...........that should get you to the right dept. to start the process...........
Hope this helps you.........
Please keep us posted on your progress........
Workable Solutions
Ph 1-800-926-9783
Fax 1-301-696-4473
bill.beckmann@citi.com (President and COO CitiMortgage Inc.)
sharon.green@citi.com (Home Retention Assistant Manager)
hala.farid@citi.com (VP-Deputy Director Homeownership Preservation)
Vikram.pandit@citi.com (The CEO of Citigroup)
Mwarner@citirl.com
dgutierrez@citirl.com
asotelo@citirl.com
nmassarelli@citirl.com
KRader@citirl.com
rgeorge@citirl.com
__________________
>Cat<
Email: Cat@loansafe.org
The LoanSafe Advocacy Group™
The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem.
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07-06-2008, 06:52 PM
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Member
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Join Date: Jul 2008
Posts: 18
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Re: Citi Mod Process
Thank you for your quick reply ! We will try ASAP
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07-06-2008, 07:21 PM
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Member
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Join Date: Jul 2008
Posts: 18
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Re: Citi Mod Process
Anyone know! Can you start a Mod process with your lender and at the same list you house for sale @
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07-06-2008, 07:48 PM
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Moderator & Chase Success
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Join Date: Dec 2007
Location: Colorado
Posts: 5,346
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Re: Citi Mod Process
You can try.............but keep in mind that a lender offers a workout to help you stay in your home.......
In the area that you are in are you able to sell your home for the full value of what you owe?
__________________
>Cat<
Email: Cat@loansafe.org
The LoanSafe Advocacy Group™
The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem.
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07-06-2008, 08:22 PM
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Member
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Join Date: Jul 2008
Posts: 18
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Re: Citi Mod Process
Yes, we like to stay in our home, first priority !!
But condos are still selling, not as high as there where. And it could take up to 6 month. Also our appraisal would be @ 425 K.
But dont you think modification should be our first step ?
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07-06-2008, 08:35 PM
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Moderator & Chase Success
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Join Date: Dec 2007
Location: Colorado
Posts: 5,346
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Re: Citi Mod Process
If you want to stay in the home, then try the modification first......and see what they would be able to do for you.........
if that doesn't work out then sell........but at least you would have known that you tried........
__________________
>Cat<
Email: Cat@loansafe.org
The LoanSafe Advocacy Group™
The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem.
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07-06-2008, 08:50 PM
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Join Date: Jul 2008
Posts: 18
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Re: Citi Mod Process
Thank you Cat, I will stay in touch.
Lots Aloha
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07-22-2008, 03:04 PM
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Join Date: Jul 2008
Posts: 18
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Anyone had experince with NACA ?
Hello to all of you,
working still on our MOD w/ Citi residential....
But I also spoke to someone @ NACA, did anyone had worked with this organization ??
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07-22-2008, 03:32 PM
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Member
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Join Date: Jul 2008
Posts: 18
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Re: Anyone had experince with NACA ?
Is me again, maybe I should ask, is it wise to become a member with NACA, even I submitted already al | | | | |
