Mortgage Forum

SuzieQ

Here is our story... We refinanced in April 2003 in to adjustable rate (fixed for 2 years at 6.55% then adjust every 6 months) with the hopes to refinance before the 2 years were up. We were not able to refinance and we have been trying to ride it out the past 3 years. Our rate as of now is 12% and we have had a hard time putting food on our table for our 3 kids. I have sold everything we had with any value on EBAY in the past 3 months. I called HOPE NOW back in January and talked to a very nice lady. She took our info. (Loan #, income, bills, etc.) She told me it looked great for us to get a loan mod. We had never been late on a mortgage payment and we had a surplus of about $200.00. Within days Gina from Citi Residential Leading called. We sent her paystubs and bank statements. She told us not to make our Feb. payment. She said we would not get a loan mod if we were current. So we never made the payment and prayed we were doing the right thing. In the middle of Feb our loan was assigned to Pablo. He told us it looks good and again told us not to make our payments. He said any missed payments would be just be added to the back end of the loan and we should be done in less then 6 weeks. With in 2 weeks we got a certified letter from Citi Residential Lending stating that we had to make payment with in a month or we would be moved into Foreclosure. We got on the phone and began calling and no one returned our calls. So we made our payment and figured we would never get our loan mod. We never stopped calling. We finally heard from him April 18th and asked for my bank statements to verify my income. (I am hair stylist and rent a chair.) I told him that my bank statements would not show my true income because I have rent and supplies that I have to pay everyday I work. He said to just fax him the bank statements and he would get back to me. Well he called yesterday and told me we were denied for loan mod. because we cannot get pay stubs for my husband side job. If I could get copies of the checks to him we could get a 11% fixed for 7 years. I told him we could not do that. He told me we have a surplus of over $2000.00. Which is not true. He told me that he would take out my husband 2nd job and for me fax over my lease contract. Well this morning he called and said we have a fix rate of 7.94% for 7 years and we do not have to make a payment until July!!! We are saving about a $1000.00 a month! I have never posted but I have read just about everyone stories to give me HOPE!!! I was on this site from the minute I got up in the morning and right before I went to bed for the past 4 months. I am very grateful for this site because without all of your posts I would never have never gotten my loan Mod.... Please keep fighting and NEVER give up!!!!