Monday, April 19, 2010

Citi mortgage not following loan modicfication

My situation and finance’s has met the published requirements for loan modification under the program outlined by the President of the United States. I first contacted the loan modification program at CitiMortgage in February of 2009.I have given CitiMortgage all required information 6 times during the 6 month period since I first contacted them. Each time I am told there is missing information in my application. Today I called am was told that we do not meet the minimum requirements for loan modification. I received a letter recently asking for more documentation when I have supplied over and over again 6 times. It is my opinion that obfuscating the facts is the directive given by CitiMortgage management in order to avoid compliance and maximize profits.
This here is what I’m exactly talking about for the last eight months I have made half payment of 388.14 which comes to $3,005.12 which actually comes to four full payments. Now they say I’m not qualified for the loan modification any more and now have sent a foreclosure notice that I have to pay $6,915.79. How in the hell do they come up with this amount. That is what I would of paid at full payments plus late fee’s. They haven’t deducted what have paid which is half of that amount. I’m soo fricken pissed off. If I couldn’t come up with the full payments how the hell I’m I going to get the $6,915.79 to stop the foreclosure.
I have read in several articles published that this is a common tactic employed in the mortgage industry and that a thorough investigation and prosecution of the guilty need to be enforced by our government. This denial of a presidential directive is outrageous and undermines the faith of our citizenry in our governments willingness to enforce laws and directives for the mortgage relief program. Unless this is a farce perpetrated by our government I demand action of the first order to investigate and enforce the laws and statutes involving the oversight of the criminal organizations

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