Mortgage Forum

Joel Fraser

I reside in Palmdale, CA. I have an adustible loan originally carried by Ameriquest but now serviced by CitiResidential. I am two months in arrears on my mortgage and was looking through the web for info regarding loan mods. I like many of you am tired of trying to adjust to these dramatic increases as well dealing with rude customer service reps treating me like I'm a low life deadbeat. Hell, I make a living saving life and property! Approximately one year ago I went through a forebearance with Ameriquest when two hardship circumstances had me falling four months behind on my mortgage. It was the most severe experience trying to stay up on the inflated payments they arrainged and I believe that my delinquency toady is still in part due to my having to make up on past other expenses as I deferred them to keep up on the forebearance. My adjustible mortgage has reset three times and my mortgage is $3900 per month. I was paying $4300 per month during the forebearance, yeh it was a chore! CitiResidential reset my interest a week ago down to $3400 at 11.999% but this amount is still way to high for me to keep up. I am fortunate to have availble overtime to help with these increases but now I've had to revert to using internet loans and my overtime can no longer keep up with these increases. Now for what has transpired. On July 25, I found your website. I read pretty much every thread and was very encouraged by the success stories I read regarding modifications through Citiresidential. I also read about the hardship letter as well saw refernces as to who to contact. So,On Jul 27 I wrote my hardship letter and imbedded it in an email to all of the parties that were listed at Citi. I got that info fro threads in the site. I sent it to Hala Farid as well others. Enclosed is a copy of my hardship letter: July 25, 2008