I applied for a Citimortgage mortgage modification and was put on trial payments at 50% of my original payment.
6 MONTHS LATER, was told I was approved, and they adjusted my payment to 95% which I still can't afford, and can't sell my house since it's now worth less than what I paid 12 years ago.
NOW, they send me a bill for over $5k! I couldn't afford my mortgage payments with my reduced income, and now I'm supposed to pay them $5K due in 15 days?
Where they came up with the $5k, I don't know. The difference from what I was paying on the trial payment plan and what my original payment was equals $3200, I guess they tacked on an additional $1800+ for all that hard work they didn't do.
They made me jump through hoops, submitting income verification 3 times, everything else at least twice, fax and mail and fallow up calls...
And no, I didn't bother calling them, they called me once and left a voicemail, because now I'm delinquent. And I don't plan on wasting any more time, effort or energy, I called my attorney. You can guess how this is going to end.
All the money I threw away, 12 years of home ownership that netted me nothing. Even the thousands I spent on improvement and upkeep this year alone, gone. I thought buying a house young would set me up for a nice retirement and build financial equity. With all the money I could have saved by renting, I could have spent more time with family and traveling, enjoying life, not feeding the market.
The one thing that I did learn is "you don't own things, things own you". I'm moving on to a simpler life.
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