Citimortgage Loan Modification Denied

Getting approved for a CitiMortgage loan modification

As we Know,Getting approved for a CitiMortgage loan modification can be the first step in saving your home from foreclosure and during your free consultation, but if your Loan Modification Denied by Citimortgage,what help can you get from an experienced professional? Look at this example firstly.

My Loan Modification Denied by Citimortgage, I have a freddie mac mortgage and tried to modify for a lower APR with citimortgage. APR now is 6.75. Our credit scores are 750+. Annual income is $160k+. New appraissal came back $75k less than when we bought, coming in at $300k. We now owe $310k and have never been late on a payment.
 
Obama’s act said we can refi a freddie mac up to 125% of appraisal, which is more than enough to cover the $310k. The refi made it all the way to the underwriter for Citi and he said; “Sorry, but it appears someone at Citi removed your FR310 code, (supposedly a code on your mortgage that shows it’s owned by freddie) but I cannot tell you why.” Apparently citi has the ability to remove these codes and he said that without that code he cannot continue. I called Freddie and they gave me a number to have citi call. I gave the number to the underwriter and he said he could not call.

For this case,If Freddie is you investor, and you can get in writing from them just use it against them than.

Tips For Loan Modification Denied by Citimortgage

1.you need to check whether your mortgage is coming under Citimortgage or not. If yes then the first step is completed. Now you have to make sure that this loan is a new loan and has not been modified before.

2.Write a hardship letter,which should clearly explain the reason for your hardship and the steps that you have taken to get back to normal,also mention your positive intentions to repay the loan.

3.Prepare all the documentations required by the bank,including statements, income accounts containing profit and loss account, balance sheet,financial worksheet, identity proofs and existing loan details etc.

You also have to keep in mind that you are going to assist and cooperate with the bank at all times by providing all the information needed

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