Mortgage Forum

Mike

I have a mortgage with Citimortgage. My investor is Wells Fargo. I am 10 months and about 13k behind. Back in November a rep. from Citimortgage called me and asked me if I wanted to keep my house. I told him yes, and he said we could do a loan modification which would also lower my 8% interest rate. I was told to send in a regular payment for Dec, Jan, and Feb. I did all this and was very excited about the modification. When I called Citimortgage in Feb., they told me that my investor Wells Fargo does not do loan modifications (http:///category/loan-modification/) and all they could do for me is a forebearance plan. I am not paying $500.00 additional a month, which I am struggling to do. My question is, does anyone know why Wells Fargo would not do a loan modification Do I have any other options? Thanks for any insight and suggestions