Foreclosure Letter

[prettymono]

What is the name of your state? MN

I received a letter from Citi Mortgage last week stating they needed $5k as soon as possible. I sent them a check through my bank online, they should be getting it today. I paid everything to put us current with our mortgage. Well, last night I received a letter from an attorney saying they are starting foreclosure and I have 30 days to deny the debt. I am asking, what can I do? Will Citi Mortgage get my check and stop the foreclosure. I know I will call them to make sure they get it, will I be able to stop the foreclosure or is it inevitable? Thank you for your help.

[HomeGuru]

Originally Posted by prettymono

What is the name of your state? MN

I received a letter from Citi Mortgage last week stating they needed $5k as soon as possible. I sent them a check through my bank online, they should be getting it today. I paid everything to put us current with our mortgage. Well, last night I received a letter from an attorney saying they are starting foreclosure and I have 30 days to deny the debt. I am asking, what can I do? Will Citi Mortgage get my check and stop the foreclosure. I know I will call them to make sure they get it, will I be able to stop the foreclosure or is it inevitable? Thank you for your help.

**A: you failed to state how many months of mortgage arrears.

[prettymono]

Sorry, I missed two months, March and July. I had ABN Ambro and made a repayment plan with them. My mortgage is $1,600 a month, they said they would take $2,000 a month until it was paid off. It was bought out by Citi Mortgage so the first of October I received their letter and so I called to work out a repayment plan, they said no pay up. I paid the $2,000 anyways just to show that I am committed to repaying it all. I received a letter last week stating we owed $5k for the two months, I am assuming that is with the interest/late fees on top of that I owe my regular $1,600 a month. I paid Novembers mortgage and the $5k for the two months I was delinquent, yesterday. So, I should not owe another payment until Dec. 1st and that should only be my monthly payment. I hope this makes sense. But I received a letter yesterday from an attorney saying they are starting foreclosure proceedings. I am assuming the Citi will get the money and say everything is okay and stop the proceeding? But I am frightened and wanted, basically, someone to tell me it will be alright and to speak with Citi and they will work with you, even though so far they haven't been willing.

Thanks for your help.

[HomeGuru]

Originally Posted by prettymono

Sorry, I missed two months, March and July. I had ABN Ambro and made a repayment plan with them. My mortgage is $1,600 a month, they said they would take $2,000 a month until it was paid off. It was bought out by Citi Mortgage so the first of October I received their letter and so I called to work out a repayment plan, they said no pay up. I paid the $2,000 anyways just to show that I am committed to repaying it all. I received a letter last week stating we owed $5k for the two months, I am assuming that is with the interest/late fees on top of that I owe my regular $1,600 a month. I paid Novembers mortgage and the $5k for the two months I was delinquent, yesterday. So, I should not owe another payment until Dec. 1st and that should only be my monthly payment. I hope this makes sense. But I received a letter yesterday from an attorney saying they are starting foreclosure proceedings. I am assuming the Citi will get the money and say everything is okay and stop the proceeding? But I am frightened and wanted, basically, someone to tell me it will be alright and to speak with Citi and they will work with you, even though so far they haven't been willing.

Thanks for your help.

**A: Is my math fuzzy? I calculated two months of payments of $1600 X 2 months numerous times and can't seem to come out with $5000.

[prettymono]

I am assuming, along with you, that the $5,000 is the 1,600 x 2 = $3200 plus interest and late fees, I mean it has been since March. I never have received an actual bill that detailed what the $5,000 was for, it just says I am in default for the $5k and need to repay it. I am assuming it does not include November which I paid late, but again they don't send itemized detailed billing.

[FlyingRon]

They won't foreclose if you bring the account current. If the $5000 check does that, then don't worry. I'd call them and make sure though. They're required to give you 30 days notice before they start foreclosure (which even then takes six or more weeks), they're just covering their bases in case you fail to deliver the check or it bounces.

[prettymono]

FlyingRon, can I first say I love you! Thank you, thank you, thank you. I figured that they were covering their butts in case I do not deliver the money, but I have never ever in my entire life had something as big as this happen. I did deliver all of the money and it will come out of my checking account today. I will make sure to call them and hope that they stop the attorney from filing foreclosure docs.

The attorney said that I had 30 days to respond or they would start the foreclosure proceedings, but that they could also start the foreclosure proceedings before 30 days even if they had not heard from me....I was a little confused on that.

Thank you all for your help...you put my mind at ease!!

[FlyingRon]

No, they can't start anything until after 30 days from the letter.
Then they can schedule and start publishing the foreclosure sale. It takes six weeks of public notice prior to the sale. The bank can stop it at any time prior to them saying "sold" on the courthouse steps.

[KKGARDO]

I came home from work and was served with foreclosure papers. I called citimortgage and told them I could western union all payments the next morning. They refused and my court date is June 18 2008. Also citimortgage didnt cash a check for $492.00 for January payment which would only have me behind 2 months. I have been making $600 a month toward late fees and back taxes. Citimortgage thought the $492 was a partial payment and did not apply it to my mortgage. I can not afford to hire a lawyer because I am a single mother with 4 kids ( no child support) Citimortgage is trying to help with a modification on my loan which will cover lawyers fees incurred because of the foreclosure. They will add the fees to my mortgage. The fact that I did not default because they sat on my check makes me think I do not owe their lawyers fees. There is not much I can do because I need to keep my house and I have to go along with whatever they say. I know the original post is old from 2007 but I wanted people to know that once they say they have started foreclosure proceedings they will not accept any payments that do not include lawyers fees also. They would not tell me how much the lawyers fees would be. I could have paid my back payments and reasonable lawyers fees and avoided all this mess

[Relent_less]

Hello,

I can't give you any advice on how to proceed but, I'd like to give you my sympathy. We lost our family home last May. I also had Citimortgage, your situation sounds very similar to what happened to us. They kept the money we sent in and demanded over 5K more in legal and lawyer fees etc.. They put saving our house out of reach. I wish you good luck and god bless,, I hope it all works out for you