Citi Loan modification in SEVEN days! - Loan Modification Forum

lisadee · 10-31-2009, 07:06 PM

A week since I faxed documents to Citi for a loan modification I have been qualified!
SEVEN DAYS!!
My loan is 2% 40 years- My house has been pulled from foreclosure and my payment has gone from 1980.00 to 920.00!!
I feel blessed, blessed, blessed!

Social Apocalypse · 10-31-2009, 09:06 PM

HOLY COW!
What in the WORLD did you do? WHO were you working with?
Somethings' up darlings... I KNEW it.
Do tell.

davephx · 10-31-2009, 10:47 PM

Did you fax the Final notorized documents after you had been on the trial for x months? Curious how many.

You don't mean to say you skipped the trail and immediately got the mod...do you......

If so amazing since HAMP doesn't work that way and our inside person has said as I recall basically its just HAMP or Fannie/Freddie with Citi and your fast response unless we are missing something defies all logic from the experience with the less lucky rest of us

If true we are all curious the secret. WAY underwater but lots of us are... trying to figure out your magic!

davephx · 10-31-2009, 10:58 PM

OK she posted on another thread. It was a very very unique situation related to a death. It somehow got great special attention but is not relevant to most of us.

lisadee · 11-01-2009, 06:50 AM

Yes, my problem was a little unique because my fiance' died and the house was in foreclosure already. We had already had a conference call when he was alive asking if I could assume the loan and the answer was NO.
My horrible credit is a real problem.
I faxed a letter explaining my situation, death certificate, will and a picture of my three children and I and was approved for the mod seven days later.
My three month period starts December 1st.
On the sixth day when I called the rep said, "oh, the house is already in foreclosure- I have to call our legal department and see if I can even work with you."
I was sure this was the end for me- because my fiance' had completed bankruptcy and this house was his second (I had quit claimed it to him to get a better interest rate years prior). He literally had zero claim to the home when he died.
I feel that this was a combination of kindness from Citi reps and Gods grace. It's not over yet but I feel blessed.

Social Apocalypse · 11-01-2009, 10:31 AM

FYI-Citi offered us 2% for the life of the loan. WHY? Because we convinced them that we really ARE filing Ch 13 and stripping their second... It is NOT a HAMP but something Huebert (loss mit specialist) calls and FDIC loan. Still haven't sent in the fax, but it's weird. I don't trust them.
They will not send us ANYTHING with the details of what we are getting until we sign and send in the docs. Rather like the mortgage broker saying, sure, sign here and we'll get you a good loan, but you have to commit to it first. A little scary.

davephx · 11-01-2009, 01:50 PM

Quote:

Originally Posted by lisadee

I faxed a letter explaining my situation, death certificate, will and a picture of my three children and I and was approved for the mod seven days later.
My three month period starts December 1st.

I hate to tell you this....

You don't have a mod you have a trial a HUGE difference.

You proved hardship so you got the trial and assume you passed the 31% test

Now the really hard work begins sadly.

Yes since on the trial they are suppose to stop any foreclosure action.

Social Apocalypse · 11-01-2009, 02:30 PM

Yep, sorry, he's right. They get to add another tally mark to "loan mods offered" and get a gold star from the Treasury Department, and then they will let you make three payments, and then they will say 'oops, you did xyz wrong', and they will immediately foreclose on you. They are required to HAMP you before they foreclose. It's a formality for them, they fully intend to foreclose, that's how they get paid.

I HOPE I AM WRONG, but thousands of others have experienced what you are going through... we have a track record.

And if I thought that sending a picture of my beautiful kids and the conditions we are living in, and explaining my tragedy (I have a GREAT story) would help, I would send it. THEY DON'T CARE AT ALL about you. You must know that, and plan to be vigilant. They are not helping you because of emotion... it's business, make sure you are looking at it the same way!

VERY BEST LUCK to you, but don't let your guard down! Stay close to this forum for help! GREAT folks here!

davephx · 11-01-2009, 02:57 PM

On the more positive side for lisadee...

I believe Citi is one of the best work with vs many others ESPECIALLY IF your loan is owned by Fannie since even if for any reason denied for HAMP, they have other options and Citi seems (hope I am not wrong) to actually avoid foreclosure sales.

lisadee · 11-01-2009, 05:59 PM

ooohh... sounds a little scary now. My understanding was that I will send proof of income etc. and pay my three payments on time and it's a done deal.
The rep told me to go out and celebrate.
I'm going to keep positive here but am a little weary now.

Sunbeam · 11-01-2009, 06:13 PM

Quote:

Originally Posted by lisadee

ooohh... sounds a little scary now. My understanding was that I will send proof of income etc. and pay my three payments on time and it's a done deal.
The rep told me to go out and celebrate.
I'm going to keep positive here but am a little weary now.

Lisa,
I have to beg to differ with someone who posted they don't care about your situation. From my experience this is not true. The negotiator I worked with is a human being. She responds to people. If you are worried, call the person you spoke to and tell them you are worried and are getting feedback that you might be strung along for a few months and then be faced with something you just can't deal with. Tell them you need something from them in writing to put your worry to rest. Tell them it can be email even. Good luck and please let us know how this turns out. We are all pulling for you!

davephx · 11-01-2009, 06:40 PM

Based on the comments here by our good friend the Citi rep.... as well as many of us with CitiMortgage..

The mod reps tell you the good news and it is SUPPOSE to work this way - that you pay the 3 and assuming you can verify the income used its a done deal.

But in reality we know from zillions of those with experience it doesn't work that way.

It seems Citi is trying but as the Citi rep posting here has said 6 payments is more the norm before a yes or no decision on the mod.

The only person that really counts is the "negotiator" and you don't get assigned one till the very end after a long while after submitting the final docs that have to be notarized and repeat what has already been done before.

After a few months you may get the 1st pretty package. But don't get too excited its only the Trial Agreement.

Its the final docs that are near the end - you know them since they are the ones that have to be signed in front of a notary.

Sunbeam · 11-01-2009, 06:47 PM

I was assigned a negotiator before my payments went into trial....she pushed it through because of the BS that I had endured from the regular reps. This could possibly be the situation for Lisadee...someone with a heart might have escalated her situation due to the death of her fiance.

I'm almost thinking each mod is unique...kind of like childbirth...only more painful.

Social Apocalypse · 11-01-2009, 07:22 PM

You know what lisadee? I bet EVERYONE would agree that even though things have been going one way, NOTHING would surprise us here. One thing that has been the SAME is that NOTHING stays the same, or is predictable.

NEVER give up hope, NEVER. GOSH none of us would have a shot if we did! BUT, just be VIGILANT. RELY on this forum for help, we will help if we can. KNOW what is going on, LEARN all you can about your situation.

You are among friends here, and we want you to succeed. Most of us are fighting our OWN battles, and when we get a chance, we help others when we see them going through something we have just suffered through ourselves.

Citi just went bankrupt today. That means all the rules are going to change Just grab your paddle and start sailing... We're with ya.

davephx · 11-01-2009, 08:05 PM

No, I don't think Citi went bankrupt it was CIT - CIT Group Inc

CIT is major because it does so much essential inventory financing etc for huge number of small businesses that can't get bank loans. It is the 5th largest BKK in U.S. history.

Also 2.8 billion lost of TARP funds on the 1st bailout. But the Treasury refused to lend it more and the result was BKK.

Other comments Sunbeam and TB98629 very good!

10-31-2009, 07:06 PM	#1 (permalink)
lisadee Member Join Date: Oct 2009 Posts: 5 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Citi Loan modification in SEVEN days! A week since I faxed documents to Citi for a loan modification I have been qualified! SEVEN DAYS!! My loan is 2% 40 years- My house has been pulled from foreclosure and my payment has gone from 1980.00 to 920.00!! I feel blessed, blessed, blessed!

10-31-2009, 09:06 PM	#2 (permalink)
Social Apocalypse Senior Member Join Date: Mar 2009 Location: Washington State Posts: 270 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Citi Loan modification in SEVEN days! HOLY COW! What in the WORLD did you do? WHO were you working with? Somethings' up darlings... I KNEW it. Do tell. __________________ (formerly TB98629) *Moe Bedard is going to save this country!* URGENT! PLEASE TAKE A MOMENT AND SIGN OUR PETITION TO THE U.S. GOVERNMENT FROM AMERICAN HOMEOWNERS: CLICK HERE Representing Washington State, and Never Giving Up Follow Me On Twitter @SocialApocalyps

10-31-2009, 10:47 PM	#3 (permalink)
davephx Senior Member Join Date: Jul 2009 Posts: 1,146 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Citi Loan modification in SEVEN days! Did you fax the Final notorized documents after you had been on the trial for x months? Curious how many. You don't mean to say you skipped the trail and immediately got the mod...do you...... If so amazing since HAMP doesn't work that way and our inside person has said as I recall basically its just HAMP or Fannie/Freddie with Citi and your fast response unless we are missing something defies all logic from the experience with the less lucky rest of us If true we are all curious the secret. WAY underwater but lots of us are... trying to figure out your magic!

10-31-2009, 10:58 PM	#4 (permalink)
davephx Senior Member Join Date: Jul 2009 Posts: 1,146 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Citi Loan modification in SEVEN days! OK she posted on another thread. It was a very very unique situation related to a death. It somehow got great special attention but is not relevant to most of us.

11-01-2009, 06:50 AM	#5 (permalink)
lisadee Member Join Date: Oct 2009 Posts: 5 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Citi Loan modification in SEVEN days! Yes, my problem was a little unique because my fiance' died and the house was in foreclosure already. We had already had a conference call when he was alive asking if I could assume the loan and the answer was NO. My horrible credit is a real problem. I faxed a letter explaining my situation, death certificate, will and a picture of my three children and I and was approved for the mod seven days later. My three month period starts December 1st. On the sixth day when I called the rep said, "oh, the house is already in foreclosure- I have to call our legal department and see if I can even work with you." I was sure this was the end for me- because my fiance' had completed bankruptcy and this house was his second (I had quit claimed it to him to get a better interest rate years prior). He literally had zero claim to the home when he died. I feel that this was a combination of kindness from Citi reps and Gods grace. It's not over yet but I feel blessed.

11-01-2009, 10:31 AM	#6 (permalink)
Social Apocalypse Senior Member Join Date: Mar 2009 Location: Washington State Posts: 270 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Citi Loan modification in SEVEN days! FYI-Citi offered us 2% for the life of the loan. WHY? Because we convinced them that we really ARE filing Ch 13 and stripping their second... It is NOT a HAMP but something Huebert (loss mit specialist) calls and FDIC loan. Still haven't sent in the fax, but it's weird. I don't trust them. They will not send us ANYTHING with the details of what we are getting until we sign and send in the docs. Rather like the mortgage broker saying, sure, sign here and we'll get you a good loan, but you have to commit to it first. A little scary. __________________ (formerly TB98629) *Moe Bedard is going to save this country!* URGENT! PLEASE TAKE A MOMENT AND SIGN OUR PETITION TO THE U.S. GOVERNMENT FROM AMERICAN HOMEOWNERS: CLICK HERE Representing Washington State, and Never Giving Up Follow Me On Twitter @SocialApocalyps

11-01-2009, 02:30 PM	#8 (permalink)
Social Apocalypse Senior Member Join Date: Mar 2009 Location: Washington State Posts: 270 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Citi Loan modification in SEVEN days! Yep, sorry, he's right. They get to add another tally mark to "loan mods offered" and get a gold star from the Treasury Department, and then they will let you make three payments, and then they will say 'oops, you did xyz wrong', and they will immediately foreclose on you. They are required to HAMP you before they foreclose. It's a formality for them, they fully intend to foreclose, that's how they get paid. I HOPE I AM WRONG, but thousands of others have experienced what you are going through... we have a track record. And if I thought that sending a picture of my beautiful kids and the conditions we are living in, and explaining my tragedy (I have a GREAT story) would help, I would send it. THEY DON'T CARE AT ALL about you. You must know that, and plan to be vigilant. They are not helping you because of emotion... it's business, make sure you are looking at it the same way! VERY BEST LUCK to you, but don't let your guard down! Stay close to this forum for help! GREAT folks here! __________________ (formerly TB98629) *Moe Bedard is going to save this country!* URGENT! PLEASE TAKE A MOMENT AND SIGN OUR PETITION TO THE U.S. GOVERNMENT FROM AMERICAN HOMEOWNERS: CLICK HERE Representing Washington State, and Never Giving Up Follow Me On Twitter @SocialApocalyps

11-01-2009, 02:57 PM	#9 (permalink)
davephx Senior Member Join Date: Jul 2009 Posts: 1,146 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Citi Loan modification in SEVEN days! On the more positive side for lisadee... I believe Citi is one of the best work with vs many others ESPECIALLY IF your loan is owned by Fannie since even if for any reason denied for HAMP, they have other options and Citi seems (hope I am not wrong) to actually avoid foreclosure sales.

11-01-2009, 05:59 PM	#10 (permalink)
lisadee Member Join Date: Oct 2009 Posts: 5 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Citi Loan modification in SEVEN days! ooohh... sounds a little scary now. My understanding was that I will send proof of income etc. and pay my three payments on time and it's a done deal. The rep told me to go out and celebrate. I'm going to keep positive here but am a little weary now.

11-01-2009, 06:40 PM	#12 (permalink)
davephx Senior Member Join Date: Jul 2009 Posts: 1,146 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Citi Loan modification in SEVEN days! Based on the comments here by our good friend the Citi rep.... as well as many of us with CitiMortgage.. The mod reps tell you the good news and it is SUPPOSE to work this way - that you pay the 3 and assuming you can verify the income used its a done deal. But in reality we know from zillions of those with experience it doesn't work that way. It seems Citi is trying but as the Citi rep posting here has said 6 payments is more the norm before a yes or no decision on the mod. The only person that really counts is the "negotiator" and you don't get assigned one till the very end after a long while after submitting the final docs that have to be notarized and repeat what has already been done before. After a few months you may get the 1st pretty package. But don't get too excited its only the Trial Agreement. Its the final docs that are near the end - you know them since they are the ones that have to be signed in front of a notary. Last edited by davephx; 11-01-2009 at 06:45 PM..

11-01-2009, 06:47 PM	#13 (permalink)
Sunbeam Senior Member Join Date: Feb 2009 Location: N. California Posts: 294 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Citi Loan modification in SEVEN days! I was assigned a negotiator before my payments went into trial....she pushed it through because of the BS that I had endured from the regular reps. This could possibly be the situation for Lisadee...someone with a heart might have escalated her situation due to the death of her fiance. I'm almost thinking each mod is unique...kind of like childbirth...only more painful.

11-01-2009, 07:22 PM	#14 (permalink)
Social Apocalypse Senior Member Join Date: Mar 2009 Location: Washington State Posts: 270 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Citi Loan modification in SEVEN days! You know what lisadee? I bet EVERYONE would agree that even though things have been going one way, NOTHING would surprise us here. One thing that has been the SAME is that NOTHING stays the same, or is predictable. NEVER give up hope, NEVER. GOSH none of us would have a shot if we did! BUT, just be VIGILANT. RELY on this forum for help, we will help if we can. KNOW what is going on, LEARN all you can about your situation. You are among friends here, and we want you to succeed. Most of us are fighting our OWN battles, and when we get a chance, we help others when we see them going through something we have just suffered through ourselves. Citi just went bankrupt today. That means all the rules are going to change Just grab your paddle and start sailing... We're with ya. __________________ (formerly TB98629) *Moe Bedard is going to save this country!* URGENT! PLEASE TAKE A MOMENT AND SIGN OUR PETITION TO THE U.S. GOVERNMENT FROM AMERICAN HOMEOWNERS: CLICK HERE Representing Washington State, and Never Giving Up Follow Me On Twitter @SocialApocalyps

11-01-2009, 08:05 PM	#15 (permalink)
davephx Senior Member Join Date: Jul 2009 Posts: 1,146 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Citi Loan modification in SEVEN days! No, I don't think Citi went bankrupt it was CIT - CIT Group Inc CIT is major because it does so much essential inventory financing etc for huge number of small businesses that can't get bank loans. It is the 5th largest BKK in U.S. history. Also 2.8 billion lost of TARP funds on the 1st bailout. But the Treasury refused to lend it more and the result was BKK. Other comments Sunbeam and TB98629 very good!

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