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CitiMortgage / thievery

1 United States Review updated:

Dont do business with Citimortgage. My wife and I wanted to refinance our home. I thought we would give our current mortgage company a chance first. I have been the perfect customer, I have never been late on any payments, we have a substantial amount of equity built up in our properties and I have a rock-solid job that I have been employed at for over 21 years. After speaking with Joe Sermo of citimortgage on the phone, he had me convinced that I would not get a better rate anywhere because he could eliminate alot of the fees involved since they already owned the loan. Plus give me a discount if I moved my other existing loan for our rental house over with them also. Ignorantly I agreed and gave them a $445.00 application fee on my credit card. Mr. Sermo went over the cost with me and I thought it sounded fair. When the final paperwork arrived there were many added fees and no such discounts. They wanted $8000, 00 to refinance our home and an additional $10, 000.00 to refinance our rental. This is ridiculous...They were twice as high as any of their competitors. I refused and he kept taunting through e-mails and phone calls to me saying "these are the costs I quoted you" Yes...those costs were there but there were many other fees he didnt quote me and higher points. He originally said 1 point and in the paperwork it was 1.37 points. He was very quick to point out my mistakes. I lost out on my $445.00 application fee, but to hell if I was going to refinance through them. Citimortgage, Joe sermo and his little partner Keisha have no integrity and I personally will be glad to see citimortgage fold and these individuals end up in the unemployment line. Dont get ripped off. dont patronize Citimortgage.

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  • Gu
      23rd of May, 2009
    0 Votes

    same experience here, with different citimortgage personnel. i also thought it would be simpler to just refinance with citibank since they were my current mortgage company, but i've been waiting since dec. 26 2008 for my refinance to get finished; in the meantime, of course, i could have accepted better offers. i've had to fax in paperwork more than once, phone calls go unanswered and unreturned; i'm about to just write off my $500 application fee. i've wasted more than that on having to pay my old monthly mortgage instead of a refinanced one for an unnecessary four months.

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