Citimortgage
Loan Sold to IBM During Trial Modification, Then $16,000 Demand

December 10. I am writing about my loan modification through CitiMortgage.

My mortgage payments were current at the time I first requested a modification in December. CitiMortgage said I could enter the trial period and pay modified interest payments. It never mentioned that this might damage my payment record, and I assumed a permanent modification under HAMP or some other CitiMortgage program would follow. A letter and a call then told me I was on a 4-month probation and had to pay $713.00 on time each month for the modification to be finalized.

More letters kept asking for additional personal information. I supplied what was requested, along with the payment, every month through October, when the same information was asked for once more, so I again sent it with the payment. After that, a letter said the loan had been sold to IBM, with the sale becoming final on November 1, yet requests for information kept coming until October 28. When I phoned IBM on November 1, I was told to try again in a week because my paperwork had not all arrived.

On November 3, once the loan had already been transferred, CitiMortgage mailed me a denial of the modification, plus a second letter saying I owed $16,000.00 (plus), due by December or I would be in default. CitiMortgage will no longer talk to me; I must deal with IBM, which says I owe $14,000 in back payments by December 16. I was not behind when I entered the modification. I did exactly as instructed and paid only the $713.00 monthly modification amount, and now I am told to find the money or lose my house. IBM wants me to start over and apply for its own modification.

What should I do next? After all of this, I am afraid to ask anyone for more help.

Company: Citimortgage
Country: USA
Phone: 8664276473
Site: citimortgage.com

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