Home Loans and Support

Unapplied funds on account

Discussion in 'CitiMortgage' started by concernedva, Nov 1, 2009.

  1. concernedva

    concernedva LoanSafe Member

    When will unapplied funds on account be posted to account?
  2. davephx

    davephx LoanSafe Member

    After modification is approved or denied...maybe in six months :(
  3. concernedva

    concernedva LoanSafe Member

    Does the foreclosure department see those unapplied funds?
    And are we given credit on our year end mortgage statement for those unapplied funds?
  4. crewof5

    crewof5 LoanSafe Member

    I have made my third trial payment as of 10/1.

    Making 4th trial payment tomorrow.

    We are still waiting to be assigned a negotiator. They told us we were missing paperwork at the beginning of Oct., it took them until October 30th to get everything scanned in according to Mortgage Outreach.

    The weird thing is even though they say they have everything, it is still saying on my online account that they are waiting for documents. Also they have applied some of my unapplied funds from my trial payments to my account already. I am starting to wonder if this is a good or bad thing. when we spoke to Mortgage Outreach last week they didn't say anything about being denied.

    I wish we could just get an answer from them, this is really starting to wear on me physically and emotionally.

    I am wondering also will they give in-house mods if you are turned down for HAM, if you don't have a Freddie or fannie loan. Any thoughts?

    I would really love to hear from Needanewjob in particular about this.

    Thanks! :)
  5. concernedva

    concernedva LoanSafe Member

    Were you behind on payment when you started the trial payments?
  6. crewof5

    crewof5 LoanSafe Member

    Hi Concerned,

    No we were current when we went on the trial. Although due to Citi we are now behind, we were appproved for trial in June and told to make payment in July, then we were told trial would start in August. So they took the payment we made in July and put it towards August. They told us NOT to make the July payment up as it would disqualify us from the program. So the unapplied funds I mentioned previously paid our July payment and I am assuming the next payment will be applied to August so I guess when all is said and done we will be 2 months behind.

    BTW, I am located in VA too! :)
  7. davephx

    davephx LoanSafe Member

    Yes and who knows...

    When I got the cure amount from foreclosure they were showing the unapplied funds
  8. concernedva

    concernedva LoanSafe Member

    What do you mean cure amount from foreclosure? What is that?
  9. davephx

    davephx LoanSafe Member

    In AZ that is the amount you need to pay up to the day before the sale to save the house. In my case a huge amount since trying since March to get a HAMP mod.
  10. concernedva

    concernedva LoanSafe Member

    Was you behind on payments before you started the HAMP mod?
  11. concernedva

    concernedva LoanSafe Member

    In a previous post by needanewjob he said that they would offer a repayment structure type if you did not get approved. Have they not offered that? Also he said that Foreclosure would cease if you were on the HAMP plan.
  12. davephx

    davephx LoanSafe Member

    Yes I was way behind since March when I knew I had to be delinquent to just not be in "imminent danger" of default
  13. concernedva

    concernedva LoanSafe Member

    Are you saying you were way behind in March?
  14. davephx

    davephx LoanSafe Member

    March 2009 is when I first applied for HAMP with Citi when it first came out. Had wiped out all my reserves after 2 years of funding 4 mortgages on two homes (one old home unable to sell in falling market).
  15. abcxyz

    abcxyz LoanSafe Member

    Crewof5, them applying the unapplied funds is a GOOD thing. It means the process is going as it should. they apply the unapplied funds when they have enough for your original payment, then they continue to collect your trial payments and put them in unapplied funds until they have enough for
    your original payment and then they use those funds to make a payment. So don't worry, that's correct. Just keep at it, you will be ok...it's tough yes, but go one step at a time...

Share This Page



"Hello Moe, I just wanted to tell you, your website has saved my life (literally), I stumbled on your site in the middle of losing my home, I was able to network with people going through the same thing as I am. I didn't feel alone anymore, I have tried to give back and counsel those that haven't walked in my shoes yet. We hear so much about what is wrong with America, I just wanted you to know, you are whats "right" with America."

Nina Mitchell
Loansafe & MoeSeo Inc. © 2014 | LoanSafe.org is not a bank, lender, mortgage broker, law firm or affiliated with the US Government. Privacy Policy