Citi Mortgage / loan modification disaster

Review updated:

When does it all stop!!

I have been on three separate modifications for a total of 18 months-
Feb. 09 through may 2010; and to make matters worse, we were just denied. Citi lost our paperwork 6 months into the processs, removed us from their citi mortgage mod. And placed us on the hamp; all the while we were good borrowers (Making our payments on time, jumping through hoops giving them everything they'd ask for even when we knew we just sent it the previous day) being compliant so we wouldn't lose our home. And what do we get in return? Offered us a forbearance of a downpayment that was ridiculously high and a monthly payment that we couldn't pay if we had 4 jobs! What citi mortgage is doing to its borrowers is scandalous and something needs to be done! We all post our coplaints here, what next?

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  • Lo
      Sep 20, 2010

    That same story here, although I've had only two forebearance agreements, so far. I called for a pay-off amount for the first agreement, paid it, then pulled a letter out of my mailbox about a week later saying I was in default because of partial payments made during the original forebearance agreement, along with additional late and administrative fees. Two days later I get a second letter from citimortgage threatening foreclosure and siting a bunch of different numbers, but still insisting I pay the bottom line.

    Since I had been dealing with the internal citimortgage staff assigned to work the forebearance and modifications, I tried to get hold of them to find out what was going on and got only a recording saying there was no one available and to call back during their regular staff hours. You get the same message at any hour you might call that number, or any other number I have for the forebearance staff. If I speak to any other 'customer service' representative, they talk like they have no knowledge of either of the agreements. I've asked to speak to supervisors, but no one has called back.

    I've asked for payment histories, but when I've finally received the 'history, ' several weeks later, their accounting system seems to apply fractional payments, made over multiple months and is almost impossible to follow and doesn't even resemble my payments, or the pay-off amount I sent. I was told all payments had to be full payments, except those made to the staff working the forebearance agreements, and partial payments held the forebearance agreement only for 6 months, then you had to make good the money you were in arears. But I haven't been able to talk to anyone in the right staff, and all others seem clueless about any kind of forebearance agreements.

    The new twist is that now they are saying acceleration of payments will start on October 10, 2010, if I don't bring the account current. The letters now seem to have a third bunch of numbers which are unrelated to any numbers I have seen before. I have no idea where they came from.

    I haven't received an actual bill from citimortgage for almost a year now. I just keep getting these letters demanding more money. For what? So it can go down a dark hole just like the last money I sent? Its bad enough that 6-month agreements with a balloon payment at the end of the sixth month weren't going to do those of us caught in a two-year recession much good, anyway, but at least be able to articulate what has been agreed and what hasn't been agreed to over the term of the forebearance.

    I had told the modification staff, that from that date forward (which was back in April, when I paid off the first agreement) I would pay the home insurance and taxes from my personal accounts, they should no longer keep an escrol account. They agreed, since the accounting problem wasn't going away. So, that day in April, I paid my six month premium for insurance. What do I get in the mail about a week ago? A refund of my six month premium. The insurance company says citimortgage was insistent about paying it since they maintain an escroll account for my mortgage! I'm at a loss for what to do about this. It's not a problem I've dealt with before, but its sure eating a lot of my time, effort, money and sanity at a time when these people said they were trying to help. At the same time, I think its they who need the help.

    0 Votes
  • Pm
      Nov 22, 2010

    I feal your pain, I also have been dealing with them for over 2yrs. now. My fees have doubled. I went to common pleas court Pro Se, and that was a total joke. The attorney never even let me plea my case in the mediation. All paper work, hardship letter and documentation required by courts was not even looked at. I know have court date Jan. 2011. Not sure what will happen then. I offered to pay $13, 000.00 Sept. 21, but no one would accept payment. All I was told was I had to pay $15, 000.00. Then in mediation the total to pay was over $19, 000.00. Of course I need to fill out paper work for the 5th time and send in once again. What the heck, I'm trying to work I don't have any time to be doing More paper work. What happened to the last 4 Mods????

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  • Kc
      Feb 15, 2011

    im gunna loose my house over citi incompetence they had me in modification in 5 weeks took my money never applied it to my account and dropped the modification due to breech o contract saying i didnt make my agreed payment. by the time the money search dept found it and admitted i made it on time and in full somehow my account got completely deleted before my money was found. 7 months later they still havent completed another modification that they did before in 5 weeks. i go to court march 11 2011 over my house if anyone has useful info let me know

    0 Votes
  • Cl
      Apr 09, 2012

    Since my postings a number of us have shown an interest in initiating a class action suit for their unfair and illegal truth in lending practices.

    I have initiated a class action suit and have gotten many responses on here.

    I to am in the same boat as the rest of you.
    Their unfair and illegal truth in lending practices are gonna catch up with them.

    I Have an attorney taking the case on a contingency basis and there will be no out of pocket expenses just to talk with him.


    if you are interested

    Seth Kolton
    Weiss, Handler & cornwell
    2255 Glades Rd
    suite 218A
    Boca Raton, FL 33431
    refernce class action suit
    James Hirschfeld

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