Citibank Mortgage Complaint

Citibank Mortgage department,

Conventional fixed mortgage Loan modification,collection,foreclosure New Jersey

I am writing today in regards to my home loan that was modified by CitiMortgage in - of 2016. I have been in touch with - - as well as -, my new servicer, and I have been advised that I need to contact Citi directly. I was offered a streamline modification by Citi. I accepted that offer and began to make trial payments. After the trial payments began but before the modification was accepted, - - started a principle forgiveness plan. The rules were very clear. The Mortgage must have a - less than or equal to $250000.00, before capitalizing eligible arrearages The Mortgage must be at least 90 days delinquent The property securing the Mortgage must not have been an Investment Property at origination NOTE : - - will provide the Servicer with a list of Mortgages that, based on data provided to us at delivery and/or by the Servicer, meet the above criteria and will serve as a starting population. The Servicer may validate occupancy status as of the evaluation date. The Servicer must validate that the Mortgages in the starting population meet the


As of the Servicer evaluation date The Mortgage must have a post-modification mark-to-market loan-to-value ( MTMLTV ) ratio greater than 115 % ( determined in accordance with - - - ) The property may be vacant or condemned The Mortgage must have been originated at least 12 months prior to the evaluation date for the Modification The Principal Reduction Modification must result in a principal and interest ( P & I ) payment that is less than or equal to the pre-modification P & I payment ( determined in accordance with Section - ) If the Mortgage is secured by a leasehold estate, the term of the lease must not terminate earlier than five years after the maturity date of the proposed modified Mortgage. If the current term of the lease terminates earlier than five years after the maturity date, the term of the lease must be renegotiated in order to satisfy this requirement prior to offering the Borrower a Trial Period Plan. The Mortgage must be a conventional - - Mortgage currently owned or guaranteed in whole or in part by - - If the Borrower made monthly mortgage payments after - -, 2016 to become less than 90 days delinquent, the Borrower must be at least 30 days delinquent on the evaluation date My loan fit each of these requirements but I still have n't been offered the principle reduction. The current value of my property is $100000.00 but I currently owe over $220000.00. - - has confirmed that I was on the initial population list that was sent to the servicer for solicitation. Shortly after I completed the trial period for the streamline modification Citi sold my servicing to -. Since I was serviced by Citi at the time that the initial population list was provided by -, it was Citi 's obligation to send out the solicitation. In addition - seller servicer letter is very clear that if a customer accepts the streamline modification prior to being solicited for the principle reduction, the streamline modification that was accepted should be converted to the principle reduction.