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Citimortgage / Abn Amro / rip off citi!!! they pride on eating you up alive!!!

1 New Mexico, United States Review updated:

About a year ago, I was forced to re-finance my home, due to a divorce. I re-financed using abn amro mortgage who later sold my mortgage to citi mortgage.. Because of the market rates, my home appraised very low, causing my equity to be very order to refinance my home, I was told that I had to pay a pmi of approximately $350.00 a month on top of my mortgage payment, which increased my payment to over $1390.00 for a $180, 000.00 dollar loan. By the pmi company is theirs! That was the first big mistake!!! I set up bi-weekly payments through my bank, who personally spoke with the mortgage representative directly to ensure proper payment. After three months of making payments, I received a letter stating that they had not received a payment in three months and that foreclosure was in my future. I immediately contacted my bank, to find out what had happened. The bank informed me all payments were made and had been posted to my account. When I contacted abn amro, I was told that no payments had been received. I had to fax my bank statement to them, just to prove a point. After careful review of my account, and after speaking to several representatives, the payments were located. I was told that bi-weekly payments are only accepted when I use their company. Problem!!! In order to use this company, you must pay the $300 and some dollar fee, just to start up and must have at least two payments in order to start!! I was told that they had placed the payments into my escrow account, because there was no other place to apply the funds. The mortgage company charged me three months of late fees! Again, after being transferred around, the funds applied to the escrow account were applied to my monthly payments. Then, I was told that I defaulted on my payments, because I started one month later than what was stated on my contract. I eventually caught up with all of their requirements and in december I found out that my escrow balance was low and that I would need to pay an additional $300.00 or so, just to keep my payment the same. So I paid the additional money. Then, the following february I received a letter stating that my I owed over $250.00 in late payment fees. Apparently they forgot to zero me out before the beginning of the year! I then received a letter stating that my mortgage had been sold to citi mortgage!!!

Citi mortgage!!! My worst nightmare!!! In july of this year, I was told that my house payment was going to be increasing to $1410.00 a month, due to property taxes. Oh my god!!! Ever since the change, I have been struggling to make ends meet. I have contacted citi mortgage, who continually sends me from st. Louis to maryland and then back again, trying to get some help!!! I receive over twelve calls a day, wanting to know when I am going to make my next payment, even after I have made arrangements with the loss prevention people. They constantly ask me to feel out hardship paperwork, which time and time again I have faxed to them. Each time I speak with them, they deny receiving it. Lesson, anytime you say or do anything with citi mortage, keep a detailed record!!! Names, times, specifics, etc., it may be your only claim to sanity!!!

Citi mortgage payment online is also a rip off. The system is set up to receive a payment only if you are not behind. If you owe more than one month, they system shuts you out, causing you to contact the mortgage company directly. So now, on top of being late, you lose out on paying the $10.00 online process fee and are forced to pay the $20.00 live transaction fee!!! What a scam! Further the online information is not accurate. If you owe late fees, the payment prompt shows you only what your monthly payment is. So you are constantly paying on those late fees. I can no longer afford to make the payments on my home without it affecting my family!!! I can not believe that companies like this are allowed to take advantage of people in this way!!! I could use some advice.

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  • Ka
      28th of Oct, 2008
    0 Votes

    i agree i to have citi and it is a nightmare my intrest rate went up to 12% it is now more than i bring home a month and they told me that i have no options with them just pay it!

  • Mc
      29th of Dec, 2008
    0 Votes

    It sounds like the problem isn't with the mortgage company.
    It sounds like your property taxes keep going up. First dispute with county about the taxes.

    Make the payments in a wire transfer from your bank account...same day transaction, no fee.

  • Tr
      14th of Mar, 2009
    0 Votes

    citi mortgage is a rip off!!! Due to my husbands illness we are one month behind on the mortgage. After several people on the phone saying they are there to help and will send some paperwork to us, only to not have any resolution and having about 5-7 phone calls a day asking for payment. no one wants to help! We had a choice of paying mortgage or getting my husbands medicine to keep him healthy.. which would you do? we have asked repeatedly for help and now received a letter saying they are going to inspect the outside of our house and charge us to make sure we still live their...Why won't they help ? we are really trying!!!

  • Ri
      8th of Apr, 2009
    0 Votes

    Citi Mortgage, Is a big rip-off company. I am only one month behind and they chared me 830 dollars and 220 dollars for processing, So now I have to give them the late payment of 1450 and 1050 in fees and pay my regular mortgage payment. Don't bother asking for help, because they don't give a #@%@#. They have a monopoly and they know it. you are just a number to them.

  • Ne
      25th of Apr, 2009
    0 Votes

    Here I am again- writing about Citi-Mortgage. I initially posted this in September 2008 and now in May of 2009, I am about ready to lose my home. They have allowed me to opt into a repayment plan, which increases my payment from $1450.00 to $2055.00 a month. On one income? What are they thinking. If you are reading this.. hopefully it is not to late for you: I believe it is much to late for my seven year old and I. GET OUT while you can!!! They don't care!!! They have ruined my credit... I can't even refinance to get out!!!

    I must say, that I am surprised that after this company received money from the government, they are still not willing to help. Obviously, when they gave them money, they didn't read our complaints. Good luck to all of you!

  • Ze
      19th of May, 2009
    0 Votes

    Citimortgage is a rip off. I just went to them to refinance our existing loan and Joe Sermo gave me a quote double of what the average mortgage company quoted. they have no work ethic or integrity. I will never do business with them again. i can see why they are in the trouble they are in. I hope to see Joe Sermo and his friends in the unemployment line soon when citmortgage goes under.

  • Jo
      10th of Jun, 2010
    0 Votes

    Here is the email for the CEO of Citimortgage, Vikram Pandit:

    and here is the phone # of the "executive response team":


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