Why Did They Lie?????

Hello,

And how I have a story for you, okay this morning I was listening to 89.3 the radio station. I heard a women and I want say her name because I did not get permission from her to state her name. But, anyway she is going threw and hard time like everyone in this crazy ass economy. She is having a hard time make her payments on her mortgage. Just like me and everyone else that has a mortgage that's not rich and or famous.

So she said that she called her mortgage company Citi Group and they told her that they are no longer doing MOD or ( also known as Modifications), on FHA Loans. I was soooo, LIVID when I heard that B.S. I know if other mortgage companies are doing Loan Modifications on FHA loans then I know that is a really big ass lie.

So that makes me ask a question: WHY DID THEY LIE????

So of course; I called the radio station and I told her that I know for a fact that they are lying to her and that she may want to call HUD to find out why FHA loans are not being modified any longer. I know for a fact that MOD's can be done on a FHA loan because while working for the mortgage company I've done plenty. Maybe on some days I've done several MOD's on $300,000.00 dollar homes.

What makes her loan so different?

Now keep in mind that I know to ever cause there is an affect and per FHA guidelines the home has to be owner occupied, loan has to be a least 1year old and the loan has to be at least 3mths behind. Now, another things is consider when doing MOD's on any type of loan is the investor. Now some investors don't allow MOD's to be done. So that is something else that she should consider. Also, homeowners don't get to pick and choose which program that they want it is also based on your finances. If your financial situation says that you need a repay plan that is what you get because if you look at it and if you have enough money to make a mortgage payment plus a little extra you may just need to cut out some of the extra activities. Another reason why they may have lied would be due to her interest rate being below market value and the interest rate can't be decreased due to it being it's at the lowest possible rate.

Now for a VA loan they will Modify the loan if the home is not owner occupied and the interest rate does not increase.

Citi Group" Why did you lie to this homeowner that truly needs some help??" I just have to know. If these mortgage companies are getting paid to offer the programs why aren't' they willing to give the programs out.