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 Tue, 18 Oct 2011 02:57:27 +0000 hourly 1 http://wordpress.org/?v=3.1.3 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!

]]> By: mike mcdaniel http://loanworkout.org/2008/11/citi-mortgage-loan-modification/#comment-28869 mike mcdaniel Sun, 16 Jan 2011 16:20:37 +0000 http://loanworkout.org/?p=1323#comment-28869 Really helpful, please! I have been working on trying to get a modification since Nov 09. I set up a trial payment for three months, paid like clockwork. Keep calling and was informed to keep making payments. Paid every month til Sep 2010. In Oct 2010 receiving letter stating that I did not qualify for modification. Same month received letter from attorneys about foreclosure. At that point decided that I was finished sending any monies to them for my loan. Was told that any money sent in would not be applied to loan. Have a meeting with clerk of court for sale of home next week! Now they are saying that I have been tentatively approved for in house modification. Honestly not sure if home is worth it anymore! Understand that it is my fault that I am behind, but kinda strange that Nov 2009 I owed $75,000, paid in over $7000 since that time and now I owe over $80,000 due to late charges, attorney fees, etc. Oh, and by the way, sent in all paperwork required three times! Right hand doesn't know what left hand is doing at this company. Never can speak to same person twice even if you have one person handling your account! Really helpful, please! I have been working on trying to get a modification since Nov 09. I set up a trial payment for three months, paid like clockwork. Keep calling and was informed to keep making payments. Paid every month til Sep 2010. In Oct 2010 receiving letter stating that I did not qualify for modification. Same month received letter from attorneys about foreclosure. At that point decided that I was finished sending any monies to them for my loan. Was told that any money sent in would not be applied to loan. Have a meeting with clerk of court for sale of home next week! Now they are saying that I have been tentatively approved for in house modification. Honestly not sure if home is worth it anymore! Understand that it is my fault that I am behind, but kinda strange that Nov 2009 I owed $75,000, paid in over $7000 since that time and now I owe over $80,000 due to late charges, attorney fees, etc. Oh, and by the way, sent in all paperwork required three times! Right hand doesn’t know what left hand is doing at this company. Never can speak to same person twice even if you have one person handling your account!

]]> By: Laura http://loanworkout.org/2008/11/citi-mortgage-loan-modification/#comment-28820 Laura Wed, 12 Jan 2011 23:44:56 +0000 http://loanworkout.org/?p=1323#comment-28820 Citi is full of it. I've been trying to get thru a loan modificaiton for 18 mos. and was told lies after lies and still waiting for resolution. They have been the worst organizations I have ever dealt with. Any none of our politicians are helping us out. I wish they could experience what we're going thru maybe we could be better results from Citi and other mortgage companies. Citi is full of it. I’ve been trying to get thru a loan modificaiton for 18 mos. and was told lies after lies and still waiting for resolution. They have been the worst organizations I have ever dealt with. Any none of our politicians are helping us out. I wish they could experience what we’re going thru maybe we could be better results from Citi and other mortgage companies.

]]> By: Chet Williams http://loanworkout.org/2008/11/citi-mortgage-loan-modification/#comment-22280 Chet Williams Thu, 25 Nov 2010 15:39:58 +0000 http://loanworkout.org/?p=1323#comment-22280 I have been dealing with much the same as everybody else posted here. Short answer: I was on the phone in a 3 way call with Citi and A rep from the HAMP program...Citi tried to explain that it is their companies policy that if someone has been in a modification that they previously denied, that they do not authorize another offer. Rep from HAMP demonstrated that they were operating in violation of the law, as law states that if applicant has undergone significant life changes or significant income changes, the applicant MUST be given additional consideration. HAMP rep stated that my divorce and loss of half of household income would most certainly be considered significant changes in my status. Citi was informed that they could either re-evaluate me in accordance with the law, or that their banking practices could be re-evaluated. Citi rep decided to finally re-open my account. Citi is knowingly violating the law and using it's own company policies instead. I was also told by Citi that my requests had "fallen through the cracks". Still awaiting outcome. I have been dealing with much the same as everybody else posted here. Short answer: I was on the phone in a 3 way call with Citi and A rep from the HAMP program…Citi tried to explain that it is their companies policy that if someone has been in a modification that they previously denied, that they do not authorize another offer. Rep from HAMP demonstrated that they were operating in violation of the law, as law states that if applicant has undergone significant life changes or significant income changes, the applicant MUST be given additional consideration. HAMP rep stated that my divorce and loss of half of household income would most certainly be considered significant changes in my status. Citi was informed that they could either re-evaluate me in accordance with the law, or that their banking practices could be re-evaluated. Citi rep decided to finally re-open my account. Citi is knowingly violating the law and using it’s own company policies instead. I was also told by Citi that my requests had “fallen through the cracks”. Still awaiting outcome.

]]> By: bkurt31 http://loanworkout.org/2008/11/citi-mortgage-loan-modification/#comment-22245 bkurt31 Sat, 20 Nov 2010 16:36:15 +0000 http://loanworkout.org/?p=1323#comment-22245 Citi is among the worst of the mortgage servicers for mistreating its customers. If your house was in California, you participated in a trial loan modification, paid as agreed for more than three months, then had your house foreclosed on, and are willing to be a class plaintiff representing yourself and others similarly situated, please contact me at bkurt31@yahoo.com. Citi is among the worst of the mortgage servicers for mistreating its customers. If your house was in California, you participated in a trial loan modification, paid as agreed for more than three months, then had your house foreclosed on, and are willing to be a class plaintiff representing yourself and others similarly situated, please contact me at bkurt31@yahoo.com.

]]> By: Anne http://loanworkout.org/2008/11/citi-mortgage-loan-modification/#comment-22241 Anne Sat, 20 Nov 2010 10:27:08 +0000 http://loanworkout.org/?p=1323#comment-22241 I was 2 payments behind in January 2010 due to being out of work on disability (having transitioned from short term to long term disability with a 5 week period of no income). I called to make a payment when a Citi rep offered me a trial modification with payment of $778 (rather than $1327). I made the payments faithfully and they extended the trial period from 4 months to 8 months. I provided them with documentation over and over again. In September they called and said I hadn't made my payment--I had. They now told me verbally the modification was denied because I failed to submit a form 4506T(I submitted it 5 times). They took the September $778 payment and returned the October $778 payment, demanding I bring the account current. They wanted all the arrears and late fees. A neighbor called and mentioned foreclosure-Citibank had began foreclosure and I had not even been told. I immediately contacted the bank. They said it was out of their hands and I now had to come up with $12000. I am still reeling. They also said to keep trying to get the modification. Well, I wasn't offered a modification but I did resubmit everything. I received a letter saying they "may be able to help me." I called again. I was actually told by a customer service agent that this letter was just an automatically generated form letter and to disregard it. I didn't disregard it...just kept calling and following up. Now their solution is forebearance and payments of $1900 per month for 18 months. I really don't know how I am going to do this as my entire disability income is under $2200 per month. They can't even tell me how they determined I can make such a payment. I am determined to stop foreclosure so I guess I have to do whatever I can. I am so worn out with this whole situation and disgusted by the unprofessional manner in which this was handled. If I was properly told that I did not get the modification, allowed to resume payments and pay toward the arrears I would understand but now I am paying all kinds of extra fees because they sent it to foreclosure. Also it appears that the bank got money from the government by offering me a modification even though they did not actually give me a modification. This is reprehensible. I was 2 payments behind in January 2010 due to being out of work on disability (having transitioned from short term to long term disability with a 5 week period of no income). I called to make a payment when a Citi rep offered me a trial modification with payment of $778 (rather than $1327). I made the payments faithfully and they extended the trial period from 4 months to 8 months. I provided them with documentation over and over again. In September they called and said I hadn’t made my payment–I had. They now told me verbally the modification was denied because I failed to submit a form 4506T(I submitted it 5 times). They took the September $778 payment and returned the October $778 payment, demanding I bring the account current. They wanted all the arrears and late fees. A neighbor called and mentioned foreclosure-Citibank had began foreclosure and I had not even been told. I immediately contacted the bank. They said it was out of their hands and I now had to come up with $12000. I am still reeling. They also said to keep trying to get the modification. Well, I wasn’t offered a modification but I did resubmit everything. I received a letter saying they “may be able to help me.” I called again. I was actually told by a customer service agent that this letter was just an automatically generated form letter and to disregard it. I didn’t disregard it…just kept calling and following up. Now their solution is forebearance and payments of $1900 per month for 18 months. I really don’t know how I am going to do this as my entire disability income is under $2200 per month. They can’t even tell me how they determined I can make such a payment. I am determined to stop foreclosure so I guess I have to do whatever I can. I am so worn out with this whole situation and disgusted by the unprofessional manner in which this was handled. If I was properly told that I did not get the modification, allowed to resume payments and pay toward the arrears I would understand but now I am paying all kinds of extra fees because they sent it to foreclosure. Also it appears that the bank got money from the government by offering me a modification even though they did not actually give me a modification. This is reprehensible.

]]> By: Kai http://loanworkout.org/2008/11/citi-mortgage-loan-modification/#comment-22232 Kai Fri, 19 Nov 2010 05:07:56 +0000 http://loanworkout.org/?p=1323#comment-22232 That is the biggest B.S. comment I have ever seen. I have been working on a loan mod for 17 months. I qualified for a mod. last July and paid promptly on it for the next 8 months. They then sent a letter saying I couldn't afford the new payment soit's reverting back to the old one. Huh? I disputed this and my contact would not return a phone call for the next three months. I threatened to fly down to Irving TX to get an answer unless they responded. I re-applied and they verbally agreed to a new mod and then 7 days later sold my loan to a private investor and now have to start the whole process over again. Citi was SO impressive in the way they mismanaged and blew off my situation. It's been amazing how un-professional they are. That is the biggest B.S. comment I have ever seen. I have been working on a loan mod for 17 months. I qualified for a mod. last July and paid promptly on it for the next 8 months. They then sent a letter saying I couldn’t afford the new payment soit’s reverting back to the old one. Huh? I disputed this and my contact would not return a phone call for the next three months. I threatened to fly down to Irving TX to get an answer unless they responded. I re-applied and they verbally agreed to a new mod and then 7 days later sold my loan to a private investor and now have to start the whole process over again. Citi was SO impressive in the way they mismanaged and blew off my situation. It’s been amazing how un-professional they are.

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