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Byron L. Perkins
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afm810
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robojang2004
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Negotiations director
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G Lewis
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Posted: Wed Mar 31, 2010 5:43 pm Post subject: Citi sucks
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| My situation is similar to several listed above. I was laid off in Oct 2008. I was able to make all payments to all creditors on time. In July of 2009 I contacted Citimortgage and explained my situation. I spoke to a guy who was part of the "assistance team". He explained that he was not employed by Citi, but was part of an outside team contracted by Citi to asisst with the influx of requests for help. I was current on my payments at the time, but funds were almost depleted. He said to skip my Aug 2009 payment and he would start a modification process. He gave me a figure ( half of my regular payment ) to be paid on Sept 1st and the 1st of the next 3 months. After the 3 months, as long as my payments were made on time, the forebearance plan would change to an actual modification. When I asked about my credit rating, he said it would take a negative hit for the first 3 months and then a loan modification would show, and my payments would be reported as "paid as agreed". I was also told that the balance of the smaller payments would be moved to the back of loan, and no late fees would be added during any of this process. I became employed in Dec 2009 and called Citi to request the modification be canceled and regular payments be resumed. I was informed that I was never approved for a modification because unemployment was my only source of income. My question was, "I gave this information to the representive on the first phone call, why didn't he tell me then that I didn't qualify?" She said, "Well, he should have but there's nothing we can do now". My next question was, "ok, if he submitted the modification application, how and when was I notified that I didn't qualify?". She couldn't answer. So now I'm over $5000 behind with late charges building. I'm paying an extra $400 a month to catch up, which will take a year. All the while my payments will be reported as deliquent to the credit bureaus until the $5000+ is paid back. I've received several letters from other creditors telling me my limits are being lowered based on "serious delinquencies" on my credit report. Although I could have made my regular mortgage payments for a while longer, I called Citi simply to check my options and took what I was told to be a modification. I've made countless calls to Citi over the past several months and encountered nothing but rude and uncaring employees, and have never gotten a question answered exactly the same from one employee to another. As soon as I catch up and hopefully can refinance with another company ( my house is worth more than I owe, thankfully ) I will never do business with Citi, ever again. |
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Cassie
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drgaitanlaw@yahoo.com
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Barty
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Ali
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Posted: Tue Aug 24, 2010 2:18 pm Post subject: Citimortgage are the biggest unorganized crooks....
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| All these above stories make me so sad, so many people in teh same situation and this bank DOES NOT help. We are a fam of 4 my hubby is a disabled firemen at 38. We fought with the bank that we are experiencing a serious medical hardship, they told us to do a short sale and we did, 3 offers, one 100% cash and foreclosed on us anyways. 5 months down teh road, 3 extensions later...my husband is officially retired over 50% pay cut and cannot even carry our 4 year old upstairs to bed. They are still not willing to at least try to modify, we have a paycheck through his work and disalbility for teh rest of our lives and they wont even give us the time. So we wrote our congressman and our congressman contacted citimort., we recvd a phone call from Citi that they were contacted by our congressman and we are allowed to reapply for a loan mod. We are waiting, but i am hoping our congressman can get on their butts. It has been over a year of surgeries, a lot less money, stress and phone call after phone call of unorganized crap from Citi, one department tells you one thing and then you hear the total opposite the next.I dont know how they are getting away with it. Good luck to everyone and please spread the word about Citimortgage, tell your friends and family to stay away from them! |
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 gldmd2002
Joined: 25 Aug 2010
Posts: 3
1.91 Dollars($)
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Darlene
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Posted: Wed Sep 01, 2010 4:42 am Post subject: Citimortgage Modification
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| I too have Citimortgage as my lender, the 3rd servicer on my mortgage. I am in Michigan and was laid off in 2008, it took 3 months to get my unemployment worked out and over a year to find a new job. During that time Citimortgage put me in a modification program for 6 months - I paid the scheduled payment on the 1st of every month as agreed. What did Citimortgage do? They held the lower payment until the next months payment came in and used a portion of the next payment to apply to the previous payment and then posted it to my account, never showing a payment had been received on time, but reporting it late to all the credit bureaus. Now, as everyone else in Michigan, I'm upside down on the value/loan ratio on the house, my credit is trashed and I can't refinance to get away from Citimortgage. To add insult to injury - last year - 2009 - they decided to pay my property taxes, even though I don't escrow. After 40 hours of phone calls, and as many different responses, I spoke with someone who agreed that Citimortgage should never have paid them. Now, 12 months later they have decided to add $834.00 per month to my morgage payment until I pay back the escrow they shouldn't have paid to begin with and they have just paid this years tax bill - adding another $1900 to the escrow negative balance. I am not in a loan that escrows with Citimortgage - it has never been an escrow loan - but I don't have the 40 hours to sit on hold and talk to the overseas operators who don't understand. I am going to end up losing the home because I can't continue to pay an extra $834/month out of my $1500 take home pay. If anyone has any suggestions, I'm open to them. I'm totally at a loss here. |
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DD
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Posted: Mon Oct 04, 2010 11:39 am Post subject:
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| I wish I would have found this page before my husband and I tried to do a loan modification with CitiMortgage...our nightmare is only beginning I guess. My husband is unemployed and I am a stay-at-home mom, both looking for work now. After we used our savings up, we decided to look into a loan mod. We were put on the 3-month trial period. We agreed to the payments and were instructed to pay that amount, which was slightly more than our original payments, for the trial period. At the end of 3 months we received one notice saying we were accepted and the following day one that said we were denied...it ended up we were denied because they said we didn't send them all the paperwork (which we did and could prove it). Last week we got a certified letter from citimortgage stating we were in default and a pre-forclosure letter would be coming shortly. We had made every payment, on time and can prove this. After hours on the phone, being transfered at least a dozen times and hung-up on twice, we still cannot figure out what happened. Two people said they see that they had opened a "seperate account" on the loan and this is where the money is being held and being put toward the loan, where all the others said they see no such record of any payments ever being received. One man will tell us not to worry it will all be worked out because it was not our fault, and then the very next guy will let us know that we have messed up bad and this will cost us thousands and be huge mark on our credit scores (which we both have scores over 800 now). It would have been comical if it was in a movie...the good cop, bad cop bit, but I really was irate. Whenever things got heated, they would put us on hold and then we would be disconnected mysteriously and have to start all over again. The most frustrating process ever!!!We are waiting for a letter from them which is supposed to go over everything we told them and what the next step is. This cannot be legal...can it? They take our money, don't apply it to our loan, and then tell us they can take our home because our loan is not being paid...? Just doen't make sense and even though I know we can prove everything, I have a feeling this could do us some damage in the long run. |
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smithsussane
Joined: 18 Sep 2008
Posts: 10030
Location: Alaska
919.49 Dollars($)
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