Ahmsi loan mod looking good

[wichitabassplayer]

I am in a chapter 13 bankruptcy and I wanted to know if anyone in my situation has done a loan modification with Citi Residential Lending? I am ok as far as the 40% debt ratio.

[Dan Bailey]

Witchita,
Glad you found the forum and posted! *** or Moe will be by as soon as they can to give you some advice and answers to you question. Hang in there!

[Moe Bedard]

When you are in Chapter 13, you have what is called an automatic stay that is imposed on all creditors by the courts. So, Citi will most likely not work with on a loan modification you while in BK proceedings.

You would have to have the stay lifted and or a letter from the judge allowing you to negotiate the mortgage outside BK. Your attorney would have to help you there.

Try emailing homeownerhelp@citi.com and see what they say. But your attorney should know this stuff.

[wichitabassplayer]

I have been reading the threads on this sight for quite a while and have found the info very useful. I have a question, I have put in for a loan modification with citi residential lending last month and was told that my invester was Citi Group global market. Has anyone had success with them on loan mods? I am in a chapter 13 right now, but citiresidential told me they are now considering loan mods for chapter 13 situations. Any advice?

[Moe Bedard]

Citi has been modifying their own portfolios if you meet the criteria.......which they will determine with your financials.............you would need to keep calling for updates if you have your docs in...............there really isn't much else you can do other than being persistent in following up at this point.

[wichitabassplayer]

Great news!!! I had applied for a loan modification and my papers were sent in Dec 15. They were forwarded the paper work to the mod department for Citi Residential Lending on Dec 18. They just called me today to let me know that it was approved. My interest rate dropped from 11.75% to 7.5 %. My loan was also on an arm which was going to start adjusting in Jan 09. It will be changing to a fixed rate. This will save me allmost $300 per month. I have to make my regular payments for 6 months starting Feb 6. After 6 minths, the new modification takes effect. So, anyone out there that is in the same situation, just remember, anything is possible if you try.

[Moe Bedard]

Congratulations!!

That is great news!



Please let us know when you receive the modificaton docs.........

[rhondap]

Yeah good news!!!!!

[wichitabassplayer]

Hi all, I've been on loansafe for several months now, and have found it to be very helpful. Here's my story:

I am currently in a chapter 13 bankruptcy while I was with citi residential lending. My loan was sold to AHMSI in January of this year. I was trying to work out a loan mod when I was still with Citi. AHMSI said they would honor the same if I made 6 ontime regular payments as my original payment. I made two so far and then I received a phone call on April 11 telling me that they were going to go ahead and modify the loan. My rep is Annie Hayes. She said it is being modified due to the new government policy under Obama. She has been very helpful so far. I faxed in all my required documents a little over 2 weeks ago.
I talked to her today, will take a few more days. Has anyone else been in my spot and had luck with Ms. Hayes? I am hoping to lower my interest rate to a lower payment as my income has gone down. Thanks.