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CitiMortgage / refinance

1 CA, United States Review updated:

I guess I'm joining the ranks of people who detest the practices of CitiMortgage. Because of Obama's "home affordable" program, we supposedly have the ability to refinance with our existing lender ONLY. Any other lender and the cost would be prohibitive. So we tried to refinance with CitiMortgage - our existing lender. We qualified with no problems (income, FICO scores, etc.). We paid the $400 application fee. CitiMortgage proceeded to "not proceed" with the loan process. We were told that our new payments would begin in September... by December, they still had not closed the loan. Everything expired (loan lock, documentation, etc.) and they cancelled our paperwork. Essentially, they took us for $400 dollars, and we still have a loan we can't afford. Where are the consumer laws that protect the consumers from this type of scam?

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Comments

  • Je
      22nd of Jan, 2009
    0 Votes

    we have an existing loan with citimortgage so we went to the local branch office and asked for a lower interest rate. they assured me this was fine and that i needed to reapply for the new rate. i did. then my spouse did. i got one letter saying we were rejected and another saying the file was being reviewed. i never got one phone call. when i called they told me to apply again because the "information" was inaccurate. i asked the for the manager and got no where.
    it isnt supposed to be this hard. how can i have a loan with them and be rejected for the lower rates offered now???

  • Jo
      31st of Mar, 2009
    +1 Votes

    I called Citimortgage to ask about bringing me down from13% interest rate. I was told to bug off. When I requested the contact info for DAS I was told NO WAY.

    This company has the robber baron mentality and are ripping of US

  • Kh
      24th of Mar, 2010
    0 Votes

    Typical of Citimortgage. Their behavior is unconscionable.

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