GW Letter to CitiMortgage success!

Feb 142011
 

Last week, I wrote a GW letter to Sanjiv Das, CEO of CitiMortgage, asking him to remove the excessive deliquencies due to the long process it took to get approved for the modification program. It took over 16 months and our credit took a major hit. I just received this letter in the mail today; here’s a portion of the good news:

 

“We have informed the agencies to correct any derogatory information associated with the April 2009 through June 2010 payments and have elected to report no history for these months. Please retain this letter and allow 30 to 45 days before requesting a copy of your credit report so the agencies may update their records accordingly.”

 

My DH and I couldn’t be more pleased! I wouldn’t have known to write a goodwill letter if it weren’t for the advice I received on these forums. I can’t thank you all enough!! And I’m so thankful that someone like Mr. Das actually listened to a customer and helped us out. Now, I can’t wait to see how it effects our credit.

How to apply for mortgage loan modification?

Nov 252010
 

How to apply for mortgage loan modification?
I have lost my job and am now working as a cashier at a grocery store. The problem is that my new salary is not enough to cover the mortgage. I am in a very tight situation so I am curious to know my options. I have heard that applying for a mortgage loan modification can help reduce my monthly payments. Has anyone had experience with mortgage loan modification please let me know what are the steps to to lowering my mortgage payments.

Get another job or start taking in a renter.

Tell a bank that you no longer have the income that made it possible to get the original mortgage…. and what do you think will happen?

They don’t modify the principal amount you owe. If you can’t afford to pay the mortgage anymore because you have significantly less income… then you need to find a way to generate more income.
Or else you will have to let the house go into foreclosure because you can’t afford it.

Mortgage Modification

Apr 272010
 

Hi All, Here’s my situation. I was laid off from my job in July 09. With not much savings I was paying my mortgage after the grace period but before the current month was over. However I was still receiving calls from my mortgage company about late payment. During on of the calls I was asked if I wanted to apply for the modification. I agreed to go through the process and was put on a trial payment of about half my mortgage until a decision was made.

 

Along story short 7 months later I was denied and along with having to pay all the money that’s past due, my credit score has took a hit hard over 150 points. What can I do to fix this fast?  I do have another job that I just started this month so I will be making my payments on time and in full. My husband and I want to sell our houses next year and get a bigger house. What are the odds of any lenders approving us with the lates this current mortgage? Will we have to wait even longer?

 

I feel really stupid in buying into this whole “we are here to help you” that my mortgage company said to me.

 

Thanks for any and all advice you can give me.

Loan modification programs not cutting it

Feb 162010
 

FEMA flood plain insurance issues clarified by city
Calls and questions concerning FEMA’s effort to remap the floodplain for Salina and Saline County were coming into the city’s planning department Friday, the day after a meeting Thursday night at the Bicentennial Center for property owners.

Read more on Salina Journal

Why rates and loan costs will be rising soon
We all wish that we could predict the future with accuracy – for example, winning Powerball numbers; stock prices; our longevity, etc. Logic dictates that we must abandon that lofty dream and instead rely upon relevant and available data to make our best guesstimates.

Read more on The Evening Sun

Is Your Dog A Pest? Try These Training Tips
Your dog might not be as well mannered as the dogs competing at the Westminster Dog Show this week, but these training tips might make your pet better behaved at home.

Read more on Local 6 Orlando

Loan modification programs not cutting it
Justin and Krystle Albrant have watched helplessly as their monthly mortgage payment climbed steadily toward being unaffordable. Mortgage too much? Join the crowd, walk away

Read more on East Valley Tribune

What is the loan modification with your mortgage while in Chapter 13 bankruptcty?

Jan 222010
 


After filing for bankruptcy Volume 13 (including fixed rate mortgages) and my husband became unemployed, so now we are 6 months later, our calculator and our lawyers to submit an amendment to loan what is the process? Is it to give loans to the changes? My husband’s hours of work, and has now been 3 months, which has just taken a long time, we are finally with us a lawyer, a lawyer, a mortgage.

Mortgage Modification Numbers Still Small

Jan 192010
 

Mortgage Modification Numbers Still Small
Only a few U.S. homeowners enrolled in a federal foreclosure prevention program have achieved permanent loan modifications, statistics indicate.

Read more on Finance Technology Network

Federal mortgage modification plan disappointing so far

Jan 172010
 

Federal mortgage modification plan disappointing so far
The Obama administration announced Friday that its much-lauded mortgage modification plan has had a disappointing start, helping far fewer Americans stay in their homes than originally hoped.

Read more on The Christian Science Monitor via Yahoo! News