A borrower in Michigan recently received a letter from his mortgage servicer, CitiMortgage . It offers to discuss foreclosure alternatives, including potential eligibility for the government's mortgage bailout program. It is clear, succinct, and gives several phone numbers and contact information. The letter includes the borrower's name, address, and mortgage loan number. It seems quite reasonable...except that the borrower tells me he isn't and hasn't been late on any payments.
"I called them and they stated they sent this letter out to all mortgage clients," the borrower tells me in an email. "I am one of these clients and have had no issues with my mortgage, and they get my direct payment on time every month."
He says that when he called Citi, the operator said it was a, "blanket letter and basically junk mail."