CitiMortgage and Our Mortgage Re-Structure

Posted: March 19, 2013 in Uncategorized
Tags: , , ,

Here we go AGAIN, didn’t we JUST do this? It would seem right? But nope, it’s been about 18 months since we last re-structured the mortgage, could be longer, could be shorter, sad that I don’t know off the top of my head.

Either way, the fact of the matter is this, and simply put, we F*cked up with balancing our budget, balancing our finances, not saving and yet again we are severely underwater on the past due of our mortgage.  Yes our car broke down, and required several fixes, but had we done the semi-smart thing we’d have had some months salary saved to help counter the cost of these repairs so we could stay current on our mortgage.  But nope, we didn’t, and nope we don’t, right now I have roughly $65.00 in our savings account and I don’t even know how much change/cash in my ‘piggy bank’ at work. YES everyone I have a Piggy bank at work, LOL!! It was a Christmas Present from my boss, a simple red box with ‘Don’t Worry Keep Saving’ on it, this Piggy bank is where I stash any coins/left over cash from our weekly cash withdrawal, it’s pretty full and I imagine I’ll need to empty it soon to make room for more $$$, Hee hee Love the sound of that.  But that doesn’t lessen the issue here: We have zero savings, and therefore, we fell behind on our mortgage and car payments and utilities because of this.

So this is where we are right now – we’ve submitted the paperwork to Re-Structure our mortgage for, what I believe is the 3rd time, since we closed on the house in June 2007 – I beginning to think we’re a tad over our heads with this house…and a car…and everything else going on in life right now…while I want to do whatever I can to keep my home, I am beginning to wonder if its truly meant to be.  Getting to closing was an uphill battle we fought along with our WONDERFUL Realtor who was ever patient with the dozens of panicked phone calls we made during the day against our incompetent Mortgage broker who had NEVER done an FHA loan before, who ALSO failed to ask for help – man it seemed like we’d never get to the closing table, I believe and this is very strong, that they finally conceded and allowed us to close because we threw back in their faces the fact that we had a pre-approval for the loan – without that I think we’d probably still be in our tiny apartment or homeless as we went several months without paying the mortgage or 1/2 of the payment due to unemployment.

At this junction we’ve collected all the necessary paperwork (8 Weeks Worth of Paystubs, 2-Months worth of bank statements, 2- years worth of Tax Returns, All of the Current utility bills, and signed forms) and emailed it off to CitiMortgage, now I guess it’s a waiting game…honestly though, I am at the point of what more can we do to maintain? That’s all I want is to maintain.

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