Comments on: Citi Mortgage Loan Modification for This Grateful Homeowner http://loanworkout.org/2008/11/citi-mortgage-loan-modification/ - Free Mortgage, Auto and Student loan Calculators by LoanWorkout.org Wed, 23 May 2012 16:08:16 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: K Hall http://loanworkout.org/2008/11/citi-mortgage-loan-modification/#comment-87102 K Hall Fri, 09 Mar 2012 19:31:28 +0000 http://loanworkout.org/?p=1323#comment-87102 They blocked us every step and did nothing to help at all. We are so far underwater it won't matter anyway. We have never been late and they will not help us. I for one will not care if they are heavily fined for the things they have done wrong. If I get in a position I can't pay, I WILL LET THEM HAVE THIS HOUSE. And I will get a lawyer, so they will leave me alone. I really hope they step up and do what is right for those of us in adjustable rate mtgs. with lots of negative equity...CREATED BY THEM AND THE OTHERS LIKE THEM. They blocked us every step and did nothing to help at all. We are so far underwater it won’t matter anyway. We have never been late and they will not help us. I for one will not care if they are heavily fined for the things they have done wrong. If I get in a position I can’t pay, I WILL LET THEM HAVE THIS HOUSE. And I will get a lawyer, so they will leave me alone. I really hope they step up and do what is right for those of us in adjustable rate mtgs. with lots of negative equity…CREATED BY THEM AND THE OTHERS LIKE THEM.

]]> By: Danielle http://loanworkout.org/2008/11/citi-mortgage-loan-modification/#comment-86704 Danielle Wed, 07 Mar 2012 23:15:01 +0000 http://loanworkout.org/?p=1323#comment-86704 Is there a program that helps homeowners underwater that have a private investor? Has anyone heard of the servicing bank “wells fargo” buying the loan off the investor so that the borrow can be applicable for many of the HAMP, HARP, and AG Settlement programs? Any comments and or referrals would be greatly appreciated. Is there a program that helps homeowners underwater that have a private investor? Has anyone heard of the servicing bank “wells fargo” buying the loan off the investor so that the borrow can be applicable for many of the HAMP, HARP, and AG Settlement programs? Any comments and or referrals would be greatly appreciated.

]]> By: chris http://loanworkout.org/2008/11/citi-mortgage-loan-modification/#comment-81355 chris Thu, 16 Feb 2012 19:25:01 +0000 http://loanworkout.org/?p=1323#comment-81355 Im not sure why you guys have so many issue with getting a modification but maybe my story can help others get this situation resolved. My name is Chris, I live in Boston Ma. I was in foreclosure and Had an auction date set for Oct 20th 2011. I contact a law firm called Realty Law Center in orange county California which I found on the internet much like this website. I dealt with the District Manager named Francisco Salvat, which by my standards was the most professional person I have ever dealt with. I retain Realty law center for 1500 upfront and 895 a month to perform a postponement to delay the auction date. Sure enough they were able to get it accomplished. At this point I had pretty much all the time I needed cause all they would do is continue to delay it. So I went ahead and spoke to them about getting a modification after being denied 4 times in 2 years. So I retain them again for 3750.00 which they split it up in two installments for me so that was pretty cool. As of Jan 2012 I was modified at 3 % for a 30 year. My payment went from 1785 down to 876 a month with taxes and insurance. They gave me a principle reduction which put about 10% equity back into my property. I hope that I can pay it forward as I recieved when I went searching for a good law firm. I recommend Realty Law Center 110% and they have an "A" rating with the better business bureau. The guy I dealt with was Francisco Salvat and he can reached at 561-809-4716 or 949-297-6346 hope this helps other families as it did mine. There is still hope just have to have the right company. Sincerely, Chris M Im not sure why you guys have so many issue with getting a modification but maybe my story can help others get this situation resolved.

My name is Chris, I live in Boston Ma. I was in foreclosure and Had an auction date set for Oct 20th 2011. I contact a law firm called Realty Law Center in orange county California which I found on the internet much like this website. I dealt with the District Manager named Francisco Salvat, which by my standards was the most professional person I have ever dealt with. I retain Realty law center for 1500 upfront and 895 a month to perform a postponement to delay the auction date. Sure enough they were able to get it accomplished. At this point I had pretty much all the time I needed cause all they would do is continue to delay it. So I went ahead and spoke to them about getting a modification after being denied 4 times in 2 years. So I retain them again for 3750.00 which they split it up in two installments for me so that was pretty cool. As of Jan 2012 I was modified at 3 % for a 30 year. My payment went from 1785 down to 876 a month with taxes and insurance. They gave me a principle reduction which put about 10% equity back into my property. I hope that I can pay it forward as I recieved when I went searching for a good law firm. I recommend Realty Law Center 110% and they have an “A” rating with the better business bureau. The guy I dealt with was Francisco Salvat and he can reached at 561-809-4716 or 949-297-6346 hope this helps other families as it did mine. There is still hope just have to have the right company.

Sincerely,
Chris M

]]> By: KevinE http://loanworkout.org/2008/11/citi-mortgage-loan-modification/#comment-76769 KevinE Sat, 28 Jan 2012 12:35:51 +0000 http://loanworkout.org/?p=1323#comment-76769 Worst experience of my life. After going through a divorce, I attempted to get a loan modification after being reduced to a single income. They claim they want to help reduce your monthly payments so you can stay in your home. THEY DO NOT. They only want to get as much money out of your as possible. I am trying to save my home for myself and my three young children. I sent in multiple documents showing my current financial situation. I was required to enroll in a consumer credit counseling service that produced a report on my financial situation, as well. All they care about is taking 31% of my gross income. So even though every reliable financial resource says your mortgage should not be more than 28% of your gross income, CitiMortgage actually takes more and claims it is trying to help you. So after months of inaccurate, incomplete, or just plain wrong (dishonest) information from incompetent representatives on the phone, my loan modification reduced my monthly payments by $17.00. YES, $17.00. The pretrial interest rate they offered was not even close to the one that was stated in the final modification agreement. They also claim that the interest rate would not change in the first 5 years of the modified loan. When I received the final loan modification agreement, it changed twice. It was raised after the second year and, then again, after the third. When I called and asked a manager, she admitted that “mistakes” were made. She couldn’t (or wouldn’t) tell what the alleged mistakes were, but she said they would redo the modification. When I received my corrected modification, my interested rate is now higher, my monthly savings is now lower, and the interest rate still goes up after two years. The terms of this loan modification are worse than the first one that had “mistakes”. Now, my monthly savings are $14.00. BOYCOTT CitiMortgage. Worst experience of my life. After going through a divorce, I attempted to get a loan modification after being reduced to a single income. They claim they want to help reduce your monthly payments so you can stay in your home. THEY DO NOT. They only want to get as much money out of your as possible.
I am trying to save my home for myself and my three young children. I sent in multiple documents showing my current financial situation. I was required to enroll in a consumer credit counseling service that produced a report on my financial situation, as well. All they care about is taking 31% of my gross income. So even though every reliable financial resource says your mortgage should not be more than 28% of your gross income, CitiMortgage actually takes more and claims it is trying to help you. So after months of inaccurate, incomplete, or just plain wrong (dishonest) information from incompetent representatives on the phone, my loan modification reduced my monthly payments by $17.00. YES, $17.00.
The pretrial interest rate they offered was not even close to the one that was stated in the final modification agreement. They also claim that the interest rate would not change in the first 5 years of the modified loan. When I received the final loan modification agreement, it changed twice. It was raised after the second year and, then again, after the third. When I called and asked a manager, she admitted that “mistakes” were made. She couldn’t (or wouldn’t) tell what the alleged mistakes were, but she said they would redo the modification.
When I received my corrected modification, my interested rate is now higher, my monthly savings is now lower, and the interest rate still goes up after two years. The terms of this loan modification are worse than the first one that had “mistakes”. Now, my monthly savings are $14.00. BOYCOTT CitiMortgage.

]]> By: ken evans http://loanworkout.org/2008/11/citi-mortgage-loan-modification/#comment-71219 ken evans Mon, 09 Jan 2012 15:59:50 +0000 http://loanworkout.org/?p=1323#comment-71219 CitiMortgage is a joke, finally got a job and asked if i could just pay back what i woe in four months they said no i was qualified for the assistance program, later received a letter i have a foreclosure date. Liers liers liers they are not interested in helping us out. CitiMortgage is a joke, finally got a job and asked if i could just pay back what i woe in four months they said no i was qualified for the assistance program, later received a letter i have a foreclosure date. Liers liers liers they are not interested in helping us out.

]]> By: Sue http://loanworkout.org/2008/11/citi-mortgage-loan-modification/#comment-66151 Sue Tue, 20 Dec 2011 00:33:24 +0000 http://loanworkout.org/?p=1323#comment-66151 You have got to be kidding with this article. Great service?? Citimortgage is the most unorganized mortgage company I have ever had to deal with. With numerous attempts of trying to get a loan modification, sending my paperwork in numerous times, telling me one minute Im approved to getting a letter in the mail a week later saying I have been denied? I decided to put the home up for sale becuse of the stress of the uncertanty..especially with kids. The Real estate agent representing me sent in all the required documentation needed along with an offer in July of 2011. The Mortgage Co. has yet to even look at the offer? They claimed they never received it? (Nov. 2011) Again, putting us through this once again of faxing over paperwork over and over again. Now,my home is in foreclosure. Im trying to stop it stating that the buyers are still very interested in my home and have been waiting for an answer.The whole time I thought I was talking to the Short sale negotiator turned out to be just once of the home specialtist reps. She just now told me I had to call the Short Sale dept?? Why didnt anyone tell me this in the first place? I think they want people to defualt so they can get more bail out money to supprot their write offs! They are horrible!! You have got to be kidding with this article. Great service?? Citimortgage is the most unorganized mortgage company I have ever had to deal with. With numerous attempts of trying to get a loan modification, sending my paperwork in numerous times, telling me one minute Im approved to getting a letter in the mail a week later saying I have been denied? I decided to put the home up for sale becuse of the stress of the uncertanty..especially with kids. The Real estate agent representing me sent in all the required documentation needed along with an offer in July of 2011. The Mortgage Co. has yet to even look at the offer? They claimed they never received it? (Nov. 2011) Again, putting us through this once again of faxing over paperwork over and over again. Now,my home is in foreclosure. Im trying to stop it stating that the buyers are still very interested in my home and have been waiting for an answer.The whole time I thought I was talking to the Short sale negotiator turned out to be just once of the home specialtist reps. She just now told me I had to call the Short Sale dept?? Why didnt anyone tell me this in the first place? I think they want people to defualt so they can get more bail out money to supprot their write offs! They are horrible!!

]]> By: CarrieM http://loanworkout.org/2008/11/citi-mortgage-loan-modification/#comment-49246 CarrieM Wed, 07 Sep 2011 19:50:46 +0000 http://loanworkout.org/?p=1323#comment-49246 We called Citi 7/2009 to discuss other options for escrow. We prepay a year, we pay taxes and insurance when do, etc. We were told it was a state law that we had to escrow. (untrue, but did not know at the time) My husband was going to be getting a pay cut so we were trying to be proactive, (we were and always have been at this point current on our mortgage) Citi told us that what we wanted was a loan modification and they would put us in that and that was the help we were looking for (sure, right) Of course, I had no idea what pandora’s box we had just opened. (no other options were ever presented or discussed with us. May of 2010 (after 8 months of trial payments) we were denied HAMP. BUT, we were told that was good news, we were actually back to Citi for a traditional modification. Again, no other options were mentioned or discussed with us. The next month we get a letter to call and make arrangements before foreclosure would start. Of course I called hysterical and was told as long as I was making monthly payments and in the modification process, Citi would not foreclose (haha). August 2010, Citi mysteriously loses my automatic monthly payment information, does not take my August payment and files foreclosure. We get served papers and file an answer. 2 weeks later we get offered a modification, my attorney calls their litigation department, and their local attorney (calls were not returned). Modification offer gets closed. (WHAT!) Another court date is scheduled for foreclosure. I finally got the contact in the ERU dept. Executive Response Unit at Citi and they rush and we get approved for another modification (But worse terms, only lowers interest .6% instead of 2% like previous offer (all income and bills were the same) we sign offer to get foreclosure case dismissed. After 4 months of on time payments with the modification, we get a letter from Freddie Mac that they do not approve of the modification because of our credit (What!) and a letter from Citi to call to workout arrangements instead of foreclose (short sale, etc) So confused and no idea what is going to happen next. Just when you think everything is going to work out and you can breathe, it all comes crashing down again. Well, yes, after 2 years of lies, and the run around from Citi, our credit is ruined. (The only payment we did not make are when we called 7/2009 and they told us to make our 1st trial payment in 2 months, I even asked about the missing 2 months and was told they weren’t needed. Then August 2010 when they didn’t take our automatic payment. This is what they filed foreclosure on. (All while I was talking to them 2 – 3x every week!) After reviewing a ton of blogs and sites today, I will be writing my story and sending it to anyone that will listen, OCC, State representatives, Washington DC representatives, news stations, all blog attorneys in EVERY state, etc, etc!! We called Citi 7/2009 to discuss other options for escrow. We prepay a year, we pay taxes and insurance when do, etc. We were told it was a state law that we had to escrow. (untrue, but did not know at the time) My husband was going to be getting a pay cut so we were trying to be proactive, (we were and always have been at this point current on our mortgage) Citi told us that what we wanted was a loan modification and they would put us in that and that was the help we were looking for (sure, right) Of course, I had no idea what pandora’s box we had just opened. (no other options were ever presented or discussed with us.

May of 2010 (after 8 months of trial payments) we were denied HAMP. BUT, we were told that was good news, we were actually back to Citi for a traditional modification. Again, no other options were mentioned or discussed with us. The next month we get a letter to call and make arrangements before foreclosure would start. Of course I called hysterical and was told as long as I was making monthly payments and in the modification process, Citi would not foreclose (haha).

August 2010, Citi mysteriously loses my automatic monthly payment information, does not take my August payment and files foreclosure. We get served papers and file an answer.

2 weeks later we get offered a modification, my attorney calls their litigation department, and their local attorney (calls were not returned). Modification offer gets closed. (WHAT!)

Another court date is scheduled for foreclosure. I finally got the contact in the ERU dept. Executive Response Unit at Citi and they rush and we get approved for another modification (But worse terms, only lowers interest .6% instead of 2% like previous offer (all income and bills were the same) we sign offer to get foreclosure case dismissed.

After 4 months of on time payments with the modification, we get a letter from Freddie Mac that they do not approve of the modification because of our credit (What!) and a letter from Citi to call to workout arrangements instead of foreclose (short sale, etc)

So confused and no idea what is going to happen next. Just when you think everything is going to work out and you can breathe, it all comes crashing down again. Well, yes, after 2 years of lies, and the run around from Citi, our credit is ruined. (The only payment we did not make are when we called 7/2009 and they told us to make our 1st trial payment in 2 months, I even asked about the missing 2 months and was told they weren’t needed. Then August 2010 when they didn’t take our automatic payment. This is what they filed foreclosure on. (All while I was talking to them 2 – 3x every week!) After reviewing a ton of blogs and sites today, I will be writing my story and sending it to anyone that will listen, OCC, State representatives, Washington DC representatives, news stations, all blog attorneys in EVERY state, etc, etc!!

]]> By: Twists http://loanworkout.org/2008/11/citi-mortgage-loan-modification/#comment-31533 Twists Sun, 05 Jun 2011 14:40:12 +0000 http://loanworkout.org/?p=1323#comment-31533 I'm in Louisiana i have been trying to qualify for this modification for a year. The first time they took 1700.00 and month for three months out of my checking account then turned me down for a modification. I have reapplied twice since and been turned down both times. It seems to me that the payments i sent months back should have at least stopped the foreclosure process because of our agreement and there acceptance of the money. IM going to call them tomorrow and see where we are and what our options are but from reading this i t sounds like i better start packing. I’m in Louisiana i have been trying to qualify for this modification for a year. The first time they took 1700.00 and month for three months out of my checking account then turned me down for a modification. I have reapplied twice since and been turned down both times. It seems to me that the payments i sent months back should have at least stopped the foreclosure process because of our agreement and there acceptance of the money. IM going to call them tomorrow and see where we are and what our options are but from reading this i t sounds like i better start packing.

]]> By: Sophie http://loanworkout.org/2008/11/citi-mortgage-loan-modification/#comment-31210 Sophie Mon, 16 May 2011 00:39:11 +0000 http://loanworkout.org/?p=1323#comment-31210 I went through the short sale with my condo and had a buyer willing to offer $150k. I paid $224k for the unit. Citi refused to accept the offer, so I was left with no otehr option than to file for a Deed in Liue, which I did and took a huge hit to my credit score. The comps on my property were within the range of the offer yet the bank would not take the deal. Literally as soon as the deed in lieu went through, Citimortgage listed it for under $100k. I looked today and the sale is pending at $114k. It seems completely unfair that they would not accept the original deal. Why???? I went through the short sale with my condo and had a buyer willing to offer $150k. I paid $224k for the unit. Citi refused to accept the offer, so I was left with no otehr option than to file for a Deed in Liue, which I did and took a huge hit to my credit score. The comps on my property were within the range of the offer yet the bank would not take the deal. Literally as soon as the deed in lieu went through, Citimortgage listed it for under $100k. I looked today and the sale is pending at $114k. It seems completely unfair that they would not accept the original deal. Why????

]]> By: chastua http://loanworkout.org/2008/11/citi-mortgage-loan-modification/#comment-30514 chastua Sat, 09 Apr 2011 10:33:22 +0000 http://loanworkout.org/?p=1323#comment-30514 Citi is the biggest bunch of scumbags I have ever dealt with. DO NOT DO BUSINESS WITH THIS COMPANY! Citi is the biggest bunch of scumbags I have ever dealt with. DO NOT DO BUSINESS WITH THIS COMPANY!

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