The complaint has been investigated and
resolved to the customer's satisfaction
Resolved
Home loanLoan Disbursement

Hi,

I allready got sanction letter from ICICI and when i want money they told me that they will not going to fund this property. I have allready informed about the property before applying for loan, that's why i write below mail to icici.

ICICI really a true unprofessional bank who dont' care about their customers.

"
I have applied for Home Loan for Rs.20 Lacs from ICICI and it took them 2 months to sanction it after my regular follow up with them. Day before yesterday (29.12.2017) I called and come to know that that Management has hold the decision to fund the Project/Property. I have already paid the booking amount and by the end of Jan ’2017, I need to pay the balance amount (I have opted for cash down).
I have no idea how a big Financial Organisation like ICICI can withdraw from their decision even though I have informed them the property I am planning to purchase before applying for loan. I am shocked that the Branch Manager Mr Manoj suggested me to look for some other bank. I have already paid the processing fee and the Sanction letter is with me. Whom should I contact so that my issue/problem is resolved ASAP? It clearly shows that ICICI sanction letter don’t have any importance and you are really true unprofessional bank who don’t’ care about their customer. In future I will try my best not to deal with your bank in any means and also try to close all the relationship with your bank. I have currently holding 3 bank account, 1 gold credit card, 1 loan account. I know this will not going to affect you or your business.
As I have already informed that I need to pay the balance amount by the end of Jan’2017, I hope to get an answer from you ASAP. Please look into this and do the needfull ASAP. "

Responses

  • Ba
    BARBARA T. STEELE Aug 24, 2013
    This comment was posted by
    a verified customer
    Verified customer

    Why have millions of home owners lost they homes/equality?

    Whose fault was this? Did you appraise your home? Were you the Bank and did you okay the appraised value (of course not). Why then are we being held responsible?
    The Banks have sold millions of loans to Fannie & Freddie and are just servicing these loans and therefore were paid in full by the GOV. for this bad paper.
    Have you been caught in the loan modification request paper jam? How many times has your Bank asked you to refresh your paper work because they could not complete a loan modification in a timely manner.
    Some have lost their homes only to be sold by the Banks on a short sale or foreclosed upon. Many on these loans were 5/1 arms which were interest only. Once we acknowledged that our homes were worth less than the appraised value we had to relook at other options. Maybe the Banks would modified these loans and allow us to stay in our homes? Did the Banks lower the principal to the real market value or did they give you the option to short sale or just foreclose?
    Many of us put large down payments on these houses from the equality that we had in a previous house. Others many have had what the Banks call a 5/1 arms which was interest only for 5 years. Yes, a lot of use paid this interest only for the five years to come to the conclusion at the end of the arms that we were so upside down that it made no sense to continue to throw good money back into a property which was worth less than what we purchased it for.
    If we stopped paying on these bad loans and the Banks could not give us any help we had the option of a short sell or have your home be foreclosed upon.
    The buyer of the short sell home now is able to purchase at a fair market value. Why did the Banks not offer us the original owners that put down payments and interest only for years that option to stay in their homes at the same sales price as they were selling your home to a new buyer? Does this make sense to anyone?
    In my case my Washington Mutual was the Bank and later Chase took over. My home was to be my retirement home, so that I could retire near my children.
    I have been asking for a loan modification for approx. 3 years.
    The answer now to all of my hard work and refreshed paper work is Trial Loan Period. Why a Trial Loan Period? We were required to give all financial documents and therefore the Banks know that those that were offered a Trial Loan Period could make the payments. Do you know that you cannot pay for the 3 month Trial Loan period up front and must make each payment separately?
    The Banks are not disclosing the final outcome if you completed the Trial Loan Period.
    Why would anyone let the Banks continue to dangle a carrot in front of us and not disclose the end product? We purchase large ticket items everyday and we know what the return policy is. A Trial Loan Period without full disclosure is dishonest and misleading.
    Let's all go to Vegas and gamble our money away at least we are aware that we can lose.
    If we completed the Trial Loan Period and we do not like the offer will the Banks return our money (of course not).
    I made a phone call to Chase and asked how did they calculate the monthly payment for my Trial Loan Period, answer they did not know. Well Chase I guess just throw darts, Chase underwriters know. Once again we are asked to trust these Banks and not demand full disclosure so that we many make a sound business decision.
    What happened to honesty and those that turned the housing market upside down take responsibility and not continue to pass the buck to the home owner who had no knowledge that they market was being inflated, homes being sold to people that could not normally qualify.
    Yes, I realize that some of the home owners many have taken advantage and borrowed on the inflated value and walked away, but in most cases this was not the norm.
    I am being offered a Trial Loan Period, 3 months of payment or more. I am a senior and work full time. If Chase offers me a fixed loan after I complete the Trial Period and as an example gives me a 40 year fixed rate and does not reduce the principal my home would be paid off at the young age of 110. If I was to have to sell this property within 5 years in the locality that my home is in it would still be up side down so, what have I gained, nothing I am in the same spot and would still lose my home but have given Chase more money. Also keep in mind that all areas do not have the same recovery time.
    If I leave my property to my children who are in their mid 40's they will be in their 70 when the property is paid off, and it still may not be worth what is owed once again my children would have to let the house go back to the Bank.

    The solution is that we stand together and not allow the Banks/Gov. to make this our problem which it was not, let's turn this around!
    Why are we the consumer not stepping up to the plate and demanding transparency for the Trial Loan Period?

    Barbara Steele

    0 Votes
  • Ly
    Lynn Herman Conley Jul 12, 2012
    This comment was posted by
    a verified customer
    Verified customer

    I was charged nearly $10, 000 dollars in interest on a $78, 000 loan that I paid off in less that a year and only received a refund check of $600.00 in August of 2017. The loan officer begged me not to pay it off, but I did anyway. I still have the paper work on the payoff.

    Lynn H Conley (African American)

    0 Votes
  • As
    Ashley/Billy Feb 12, 2012

    We use to have our home mgt through Flagstar Bank. Then we were sold to Nation Star MGT. They are horrible. They have all these unexplained fees all the time. And as everyone knows your house payment is due on the 1st of the month and you have until the 16th to pay it without a late fee. If I do not make my house payment on the 1st of the month they call me every day until I do. Sometimes up to 10 times a day. Even on the weekends and even late into the evenings. I have never made a late house payment with them. it is always paid on time. They charge me for them having to call me to "remind" me as they say about my house payment. But when you want to call them you can not get someone on the phone. This company is horrible. I would give anything to get away from them.
    STAY AWAY FROM NATIONSTAR MGT!!!

    0 Votes
  • Lw
    Lwhitaker Nov 08, 2011
    This comment was posted by
    a verified customer
    Verified customer

    Bank of America performed an bait and switch on my home purchase loan. They hooked you in with lower rate and came up with all sort of conditions to earn higher rate or refuse to loan. I am closing all of my accounts with BOA and move else where and will never consider BOA to serve my finance needs.

    0 Votes
  • Be
    BeenThereDoneThatLongAgo Aug 27, 2011

    You need to talk to a Real Estate attorney in your state. If the Court Ordered the sale postponed or improper, Ocwen will simply correct whatever is defective and pick up where they left off. Try doing a Loan modification with them.
    Or talk to a bankruptcy attorney about a chapter 13 so that you can stop the sale and pay back the arrears over time. (This assumes you have a source of income sufficient to make mortgage payments.)

    0 Votes
  • Rv
    RVaughan Aug 26, 2011

    By the way, You should stop calling yourself judgejuryandthetruth for the following reasons
    1) You don't sound smart enough to be a judge.
    2) If you were on a jury you should get all the facts before you make a judement call on a problem you have no idea what the rules are governing that problem. God help the poor person who's jury you are on.
    3) As far as the truth goes I don't believe you could identify it if was attached to your butt.

    0 Votes
  • Rv
    RVaughan Aug 26, 2011

    Do you have a clue as to what a MFR is or a POC?
    1 payment is not grounds for a MFR.
    A MFR cannot be attained by being 1 payment behind but it can be attained if you give the court false information. Like I said GMAC aggreed they made a mistake.
    GMAC is a ruthless mortgage company. If you are out of work and out of money
    what are you supposed to.
    Sounds like you work for GMAC.
    You have not a clue as to what you are talking about so why don't you just close your pie hole until you can get in the know.

    0 Votes
  • Rv
    RVaughan Aug 26, 2011

    When my wife had a heart attack I had to file Chapter 13. Recently I lost my job and got 1 payment behind on my mortgage.. GMAC lied to the court to get a motion for relief. They told the court I was 3 payments behind and false information about the value of my house, the amount I owe on it etc. The court granted the motion. GMAC finally found out their mistake and now wants to charge me $1500.00 in legal fees for a problem they caused. I have to go to court and hope I find an honest judge and get thier motion thrown out. If they told the truth to the court they wouldn't have got this motion. I had the money at the end of the month but they wouldn't except saying the matter was in their attorneys hands. When they called their attorney they wouldn't talk to me. If I loose the case they will just foreclose on my house for which they will get nothing and they can sue all they want. I own nothing and I will be drawing my Social Security soon.

    0 Votes
  • An
    AngryMichiganHomes Jun 10, 2010
    This comment was posted by
    a verified customer
    Verified customer

    We have been workign with Everhome to go through a short sale on our house. WE finally get to the point where they say, we are going to approve the short sale, we are just waiting for one more document to be returned. Should be soon. Great News, Right?... That was until I get a call from the buyer that says, we are tryign to do the apprisal, , but cant get back in the house, the locks are changed. What??? SO I rush over there to find my deadbolt pried out of the door and replaced with another. SO, now I can not get in my house and the buyer walks, thinking I am in foreclosure. I call Everhome and they say " we do that all the time". After talking to a lawyer, I find out that is illegal in Michigan. I call them back and really get into it. That is when I find out they are "taking bids" on our appliances, etc. I have just about lost it at this point. These guys are the worst bank I have ever dealt with. Complete liars. Will blow smoke up your A%& while they steal your wallet.

    0 Votes
  • Sa
    Sajan Bhatia Apr 14, 2010

    Kaushik, [protected] working in recovery in New Delhi, Deer Park branch, B-6/7, DDA Community Centre, Safdarjung Enclave, New Delhi. He has such a bad attitude to speak with the customers, I am with Deutsche since it was BHW it is more than 5 years.
    Due to some financial problem, my one EMI is pending which I have told to pay by next month. I want the provissional certificate for the year 2017-11 which needs to be deposited by 15th April'10, which on asking he litearly abused. I was shokked how can a person abuse his customer. I was in requestive mode but he banged the phone and told not to call unless you clear the dues. This is just rediculas on the behavior of your employee.
    Please take the immediate action on this and revert back ASAP.

    Mu email : [email protected]

    0 Votes
  • Ji
    Jitendra Kumar -Axis bank Apr 08, 2010

    Same happened to me but not with ICICI, It was with AXIS Bank. I am also running from pillar to post why they are playing with our emotion, time and money.

    0 Votes
  • Ra
    rajeev singh Sep 22, 2009

    t i have home loan from icicibank they wrongly charged over due charge due unavibility of cheques but they not inform about the non aviabilty of cheques

    0 Votes
  • Pu
    PUNEET SAREEN Sep 05, 2009

    Rate of interest Reviesed but no information (Communication letter) from GE money. miscommitment & no reply.

    0 Votes
  • Tp
    TPShaha Aug 30, 2009

    Respected sir,

    My Home loan A/c No is - LBSAR00000350226 in the name of Thakordas p Shaha & Rekha T. Shaha. This Loan is taken from Satara (Maharashatra)

    I Need my home loan a/c statement & I pay EMI plus Extra money
    But i don't know current status of my a/c
    so please i request you give me a/c statement & Refund amount is it done by calculation

    Thanking you

    Regards,
    Thakordas P Shaha
    [protected]
    [protected]

    0 Votes
  • Sh
    Shakeel A Khan Aug 21, 2009

    I have availed a housing loan from Citi Bank/finincial .I am regular payer of loan still my name is in cibil Why my name is reflecting on cibil ?

    0 Votes
  • Mw
    M Williams Jul 13, 2009

    My home loan was assigned to Wilshire Credit Corp. and then I later refinanced my home. The Title Company that was responsible for paying off my loan to Wilshire did not pay it in a timely manner. Even though each and every payment that I made to Wilshire prior to refinancing was in a timely manner and never late and they were aware that the home loan had been refinanced and I was not responsible for the late payment by the Title Company, they still (after repeated requests and disputes) refuse to remove the negative reporting to the credit bureau.

    0 Votes
  • Er
    Erica Aug 21, 2008
    This comment was posted by
    a verified customer
    Verified customer

    My loan was purchased by CitiMortgage on 5/1/08. I had been going along with no issues on my home loan previously, able to pay the invoice on line, look at my history etc. ... then came this.
    I made my last payment on my mortgage to the old provider in April. I called CitiMortgage when I received their notice letter on 5/15/08 (14 days after they took over the loan) to make my May payment and find out all I could about who now held my mortgage.
    Little did I know that this would be the first of many calls to try and straighten out a missing payment that was made at the time of the transfer of my loan - which by the way is still MIA.
    I have spoken to 13 people - 5 of which are supervisors and have faxed and emailed a total of 9 times the same information to get this issue taken care of.
    When my loan transferred to CitiMortgage it was around the same time my payment cleared the bank for the old provider, needless to say CitiMortgage stated I had not made that payment. I have provided them with a copy of my on line bank statement showing the payment along with the email confirmation that my old providers system sent out when you made a payment.
    Again, my first contact was on 5/15/08 it is now 8/20/08 and I still do not have this rectified. As a consumer I do not have any other documents than what has been sent to them to prove that I made the payment. Three days ago I received my first letter from CitiMortgage regarding all of this and they tell me that the online bank statement that I sent (with my balances crossed out- none of ANY ones business) was not sufficient enough. They needed to see my balances. I could not believe it. First, why has it taken 3+ months for them to tell me this and second, why are the balances on my accounts necessary to them to see the payment being made and taken out of my account? It clearly shows that it was made, who it was made to and on what date with the amount.
    I am at a loss on what else to do. I tried holding a payment as they had given me a note reference number stating that they would not report my account late to the credit bureau - which guess what- they have- and that did not work.
    I did not ask to have my loan moved, I did not ask to speak to people and deal with people that do not care about their customers.
    I just want my account fixed so I can go back to making my payment online once a month and not have to deal with anyone.

    0 Votes
  • Sh
    SHAH FAIZ AHMED Apr 15, 2008
    This comment was posted by
    a verified customer
    Verified customer

    Dear Sir,
    I am a ICICI Home Loan customer. I took amounting to Rs. 2, 90, 000/- for construction of building in 2017. My Loan Account No. is LBNOD00000951712. I require urgently foreclosure certificate against this loan. My address of communication is HOUSE No. 5/1590, VASUNDHARA, GHAZIABAD-201010. My date of birth is 01/07/1974 and EMI of this Loan is Rs. 3841/- per month. I will be grateful if this certificate is sent at my e-mail address [email protected] Thanking u.

    0 Votes

Post your comment

    By clicking Submit you are agreeing to the Complaints Board’s Terms and Conditions

    Submit

    IN THE NEWS

    Unhappy consumers gather online at Complaintsboard.com and have already logged thousands of complaints.
    If you see dozens of complaints about a certain company on ComplaintsBoard, walk away.
    One of the largest consumer sites online. Posting here your concerns means good exposure for your issues.
    A consumer site aimed at exposing unethical companies and business practices.
    ComplaintsBoard is a good source for product and company gripes from especially dissatisfied people.
    You'll definitely get some directions on how customer service can best solve your problem.
    Do a little research on the seller. Visit consumer complaint websites like ComplaintsBoard.