HELP! HELP! Landlord leases Help with loan modification

[relentless]

Hi everyone, I am new to this forum. I am in a loan modification with Citi Residential Mortgage for my rental property. I had a forebearance agreement with them previously, but it got to the point where it became overwhelming. So, I asked for a loan modification. I have been for the past over 90 days. They have on 4 occasions requested the same documents from me over and over again. According to them they have put my loan modification under "special handling". I have sent them a copy of the 1st page of my rental agreement with my tenants names blacked out that has the information of how much rent I receive from my tenants. I don't want to release their names, on account I feel they just want this information to go foward with the foreclosure, so that they can notify my tenants. I won already in court with them in the first place. I'm sure they will try again, because they have been dragging this out for the past 90 days, changing me from one person to the next. My question is if anyone can help is: Do I have to release the names of my tenants to the my mortgage company, is this not private information between me and my tenants. Also, is my contract with my tenants private information? I live in Ohio, any advice will be helpfull.

[schwefls]

Hi relentless welcome to our forum:

I wanted to stop in and say hello. Someone will be reaching out to you to address your questions and provide you with some direction.

[relentless]

Hello Schwefls to you and thank you

[FlyOnTheWall]

With so many straw buyer scams, I can see their point in trying, or being required to verify you have bona-fide tenants; real people with real names instead of references to "tenants" only.

While the information may be private, you may have to give up some of your privacy to get from point A to B. If you're not willing to do that, then it sounds slike it could be a problem.

In fact, are you sure you haven't already given them permission to verify the information on your loan mod request? Already given them permission to verify the value of your home, your payment history, tax returns and most importantly, INCOME, which would include rental income? Just the same as they want your employer name instead of "employed"; they might be seeking the same info from your rental income.

Besides, they can send a field inspector out to do a simple doorknock, to collect the occupant names.

[relentless]

Thank you Flyonthewall for you response. I know that it is possible for them to have someone come knocking on the door. My feelings are that, they just want this information so that they can follow through with the foreclosure so that they can ensure that they have serviced all parties in the complaint against me. You see I won the first foreclosure, because I had a forebearance agreement with them. Everything was going fine, until, one of my tenants stopped paying their rent and I had to evict them. So, that is when I tried to get a loan mod. so that I can afford the payments on the house if this were to happen again. Well all this started in June and now its Oct. They told me it will take 60-90 for an approval. As I've said before they have swithced me around from person to person. Even one person had my loan mod. for 3 days and canceled it on the 4th day with no explanation. Then I've had to re-fax my information to them 4 times. I have overloaded them with qualified written request for explainations of why they canceled my loan mod, who is handling my loan mod and what is happening with it. They have told me that the loan mod had been placed under "special handling". What this means I have no clue. According to them its suppose to push my loan mod fast above other request. Which I have found that this isn't so. This was told to me in july, it is now Oct. To me I feel they are trying to guaruntee a default on my loan so that they can foreclose. By continuous delays to run up legal fees, continuous ignoring my complaints and qualified written request, which i have sent 3 with no response. Also, in the 1st foreclosure, I learned that the plaintiff was not the holder of the note. They filed the complaint say, March 20th and 3 days later transfered the not to the plaintiff. I just don't trust them especially when I'm being switched from one person to another. Now my loan mod are in the Office of the President. Who are they, I have no clue because they have yet to answer me.

[pattona]

Relentless,

Doesn't your mortgage contain a clause titled "assignment of rents?". I would look at that clause carefully. I think you are required to turn over the lease documents "as is"; meaning no editing.

Since the default process is public; e.g. filings at the county recorder, your tenants are going to find out one way or another. Is there much term left? You need to tread carefully here because as my atty advised me, if you are unable to fufill your side of the lease (meaning you may lose the property to foreclosure before the end of the term) that may be cause for the tenants to sue you.

Make sure you have a good lawyer assisting you with this process.

[relentless]

I don't know if it does, I would have to check. As far as a lawyer helping me, I can't afford one. Secondly, I've already tried to go through legal aid, but I have to be living in a card board box in order for them to help me. Once again thank you for your advice, I am going to keep fighting this foreclousure, I refuse to bow dow and play dead. I worked to hard to obtain these houses, I care about my tenants well being and it was an unfortuante events that got me in this situation. I just can't, won't quit

[FlyOnTheWall]

I can't speak for Ohio, but here in Cali you can proceed with an eviction action without knowing names of the tenants - they simply file it under the old owners name. It places the burden on the tenants to come forward and identify themselves.

While I understand the court foreclosure action is different than an eviction, you still might call the court and ask a clerk - is the name of the tenant required to file a foreclosure action? Or can the bank proceed under your name, and the tenant later be added to the action upon learning their identity (often times this is done by filing a "Doe" amendment.")

At least that portion of your question might be answered - whether or not they are asking for their names to simplify the foreclosure process.

Personally, I doubt it.

[pattona]

Have you checked out the lawyers on this web site? I don't think they charge that much. In the long run they will save you a lot of money as well as aggravation.

Part of me wishes that I had found this site earlier; say in April when I first realized how serious my mom's estate's financial condition was.

[relentless]

Worse case senario, it does have that clause, I release my rental agreements to them, what can I do, how can I fight this. I've searched the internet and can't find help for my situation. There is help for primary homeowners, but none I can find for people who own investment properties. Does anyone know what I can do? I humbly thank all of you just for listening and responding, I truly appreciate it, I feel I am not alone in this and am glad I can find support and help. Thank you once again

[relentless]

You know what really pisses me off is, that bailout for those multi-billion dollar companies. It makes me so angry, that these multi-billion dollar companies, can go to our elected officials, and ask for billions of dollars of our money to bail them out of their "bad investments!" and I and many other americans have no vote in nor any relief for our own issues. Except increase in mortgage interest, predatory lenders, scam artist, raise in our taxes, and our arms twisted till it breaks by our credit card companies and mortgage companies. Its not right! Its not right!. This crisis did not just happen yesterday, those lobbist who support our government officials got their men in office to bilk the american people out of their hard earned money. Now, it has gotten out of control and they still want us as americans to take the crumbs or our hard earned moneyto bail them out. I am about this bailout it is not fair and won't be fair no matter how they try to reword this Bill that it meant to cut our throats.