Flynrider
Phoeix,#2Consumer Comment
Sat, November 01, 2008
I don't see it. You signed for a mortgage that you now can't afford. Citi wants you to pay what you owe them. At least they have been making an attempt to work out an arrangement with you. Other lenders don't even go that far. They really don't want to foreclose on you, because then everybody loses. On the other hand, they are servicing the loan and they have to have a certain amount coming in. If they gave you and everyone else that is in the same situation a break, they'd be in deep financial straits. The bottom line is that you signed up for an ARM and you can't pay according to the terms, or even the lower payment they agreed to. Sorry that you're in this kind of trouble, but this is not the bank's fault.