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Wrongful Bank Foreclosure
Loan Modification Nightmares Reported About CitiMortgage
Loan modification nightmare stories are coming in droves from consumers across the country who are complaining about the treatment that they are allegedly receiving from CitiMortgage. Every day, homeowners are telling our attorneys about their experiences with CitiMortgage and the processing, or lack of processing in most cases, of their loan modification applications.
Homeowners have consistently reported that: 1) they submitted a loan modification application under the federal government's Home Affordable Mortgage Program ("HAMP"); 2) they provided all the documents requested by CitiMortgage and cooperated fully with their requests; 3) they received a notice that they've been approved for a trial loan modification and that if they submit their modified payments for three months (and provide certain documentary proof of certain things) then they will be approved for a permanent modification; 4) they make their three modified payments, but they don't receive final approval; 5) they then call and/or write CitiMortgage to inquire about the status of their permanent modification; 6) their permanent modification is dragged out for 7 -8 months; and, 7) they finally receive a notice that they don't qualify for a permanent modification, they are in default on their loan AND that they now owe thousands of dollars if they want to stay in their home and avoid foreclosure. Meanwhile, they discover that their credit has been ruined because CitiMortgage has been making negative reports to their credit bureaus and they now can't qualify for a competative refinance to pay off the claimed amounts due.
Does this sound like your story? If it does, Phillips & Garcia wants to hear about your experiences with CitiMortgage. Contact us to share your story.
Victims of wrongful foreclosure lockouts and seizures have rights. Phillips & Garcia, P.C., a leading law firm in wrongful foreclosure and seizure cases, is now taking cases in any state where there has been a wrongful foreclosure, lockout or trash-out of a borrower's home. Although we are licensed in Massachusetts, we can associate with qualified attorneys in your state.
19 Comments to "Loan Modification Nightmares Reported About CitiMortgage"
This is in followup to my 07/10/10 comment....not only did it take CitiMortgage over 11 months to finally review and process my loan modification request which I refused, it took them 9 months to clean up their records and files in order to accurately reflect the terms of my original loan. During the total of 24 months that I dealt with this situation, my credit was temporarily downgraded and finally received a copy of Citi's letters to the 3 credit bureaus explaining their mishap. I am just now getting offers of credit in the mail again. What kind of bank has such poor record keeping and systems? What about their quarterly audit process through the Sox-Arbannes Act? I am waiting for the economy to get better and re-finance and move my loan to another lender.
Posted by Carol C
on April 17, 2011 at 01:58 PM
I am in the same situation. I cant believe they have been getting away wit this so far. Almost 2 years of dealing with this, able to pay and they do not follow through. My house is in foreclosure, my credit is gone - I have contacted an attorney. I did receive a call after complaint to the OCC and I contacted Millberg attorney concerning class action but so far it only includes California and Florida...
Posted by lilly
on April 2, 2011 at 08:36 PM
I am in the same situation. I cant believe they have been getting away wit this so far. Almost 2 years of dealing with this, able to pay and they do not follow through. My house is in foreclosure, my credit is gone - I have contacted an attorney. I did receive a call after complaint to the OCC and I contacted Millberg attorney concerning class action but so far it only includes California and Florida...
Posted by lilly
on April 2, 2011 at 08:36 PM
i was trial period. they denied and lied that i haven't send the paper on tie. i gave up and paid all outstanding balance. They have charged me late fee for every month for all the trial period. the are just crook.i paid around $900 late fee and i have to pay another $325 late fee
Posted by syed
on January 30, 2011 at 02:46 PM
The good news is there is a pending class action for many of the reasons talked about here. If you go to http://www.citimortgagesucks.net/ and click on the link at the bottom of the page - or just go to http://cases.milberg.com/citimortgage./ - you can enter your information. The class action has not been approved by the court but I'm trying to get the word out. The more people that add their names, the better the chances of the case being heard.
Posted by Dan
on September 22, 2010 at 03:59 PM
More Citi- troubles for me! When I tried for a HAMP, they said my NVP was positive and I had 100 K in equity. So, I tried HARP, and they said my NVP was negative and I owed slightly less than my home was worth. They really are totally incompetent and deceptive for their own purposes; to be greedo.
Posted by Penny
on August 28, 2010 at 09:18 AM
Same thing is happening to me except I send a payment in and they made it for a different amount. I noticed it when I was going over my payment history. They took $124.50 of the total That I paid with one Ck this wasn't 2 cks just 1 and didn't do the total so I was charged Late fees and delinquency expenses totaling $312.15 for there mistake. What the H--- is up with that. I contacted credit and they said it was not going to change because of something eles. WHAT!!!!!!!!!!! They Love to dance around the truth. If it helps you they do all have a ID#connected to them. So to track who did what so when you call them, get there ID number, at least its something but I just found that out last week when one actually offered it to me, I have been working on this since Jan 1. 2010 and thats the first I ever heard of that. Gee what are the others trying to hide!!!!. Well, Good Luck, I think I'll learn to build a Tee Pee.
Posted by Starr
on August 27, 2010 at 06:49 PM
File a complaint with the Office of the Controller of the Currency Administrator of National Banks. Just fill out the complain form online and (as in my own experience) they will contact Citi and make some fire under their butts. I also files a complaint with the Department of Corporations. Call your local news station, involve the media, call the LA Times etc., there are enough of us out there to create absolute hell! Being united will be our only chance. let's do that, we are not loosers in America - show some good red-white & blue spirit and stand up for your rights people!
Posted by Gina
on August 14, 2010 at 01:34 PM
F.U. Mr. F.U.! It is clear to anyone who has gone through HAMP that the entire crew at Citi does not have one braincell combined. Your customer service stinks, the left doesn't know what the right is doing and Citi is in violation of these laws just to name a few: Breach of Contract; Breach of Implied Covenant of Good faith and Fair Dealings; Promissory Estoppel; and Violation of California Business and Professional Code 17500 et seq and 17200 et seq. - not sure if you will be smart enough to look these up.
Oh and just one more small detail, these violations are based on the presetence of the Ameriquest 50 million dollar settlement. Citi is NOT going to get away cheap, my dear. Guess how Citi is going to have to make up for such a huge loss - fire employees - and maybe, just maybe Mr. F.U., you'll be one of them. I am sure your employer won't give a crap how you pay your mortgage - after all you borrowed it, right?! People like you should be utinized!
Oh and just one more small detail, these violations are based on the presetence of the Ameriquest 50 million dollar settlement. Citi is NOT going to get away cheap, my dear. Guess how Citi is going to have to make up for such a huge loss - fire employees - and maybe, just maybe Mr. F.U., you'll be one of them. I am sure your employer won't give a crap how you pay your mortgage - after all you borrowed it, right?! People like you should be utinized!
Posted by F.U. 2 Mr. F.U.
on August 14, 2010 at 01:28 PM
Hey Mr. F.U. first of all why don't you vounteer your real name to the lawyers so that they can depose you in the class action? Second the reality is that Citimortage is completely ignoring the written HAMP guidelines that Citimortage agreed in writing to follow. Thousands of people are being misled, ignored and lied to by the bank you claim that you work for. Citimortgage enjoyed millions of dollars in government bailout money to save them, but now they don't want to follow the guidelines prepared by the government that bailed them out. Yes, we did borrow money from CitiMortgage, but they are NOT following the guidelines - they don't provide us with a final decision within 3 months like they promised, they are lying on our credit reports in direct violation of HAMP guidelines, they are foreclosing on people while HAMP loans are pending and they are charging outrageous "inspection" fees every month while HAMP applications are pending. Ask the thousands of us who are being abused by your company and why don't YOU man up and volunteer to be deposed by these lawyers so you can tell them how great CitiMortgage is doing following the federal guidelines.
Posted by Joe
on August 14, 2010 at 08:23 AM
i work at citi and i am sick and tired of hearing all u fucking cry babies, all off u think that we owe u something, u signed the contract u accepted the contract and if u dnt qualify for help, guess what, to fucking bad, U STILL OWE MONEY!!!. and then when we call u u ignore us or talk shit, did we ignore ur stupid asses when u needed the money to buy ur home. awwww forgot about that huh. everything is based off ur income and the government is making the call. so man up and if dont get help, pay what u owe, short sale the poperty, or let it forclose, understably the economy is bad, but again u still owe if the govermnet cant help!.
Posted by mr f.u.
on August 13, 2010 at 11:22 PM
Citimortgage is extremely incompetent and there is no recourse for the individual.
We tried for a refinance and a modification. We faxed them documents as per their instructions and they kept saying they had nothing when I called after weeks of not getting any response. Then they would give me a different fax number and so on repeatedly over months beginning in March 2009, though according to them, the first they heard from me was in July 2009. I never got the same person on the phone. No one will give you an extension so you can talk to the same person when you call back. I have approximately 60 different phone numbers given to me by Citimortgage to resolve my issue with refinance. I am too scared I'll lose my home if I try for a modification with them! We have maxed out many credit cards to pay them during periods of disability, unemployment, and now a forced retirement with a fixed income. Now we are at the point of no return! Had they given us 2 percentage points in interest reduction to 4.75, we would not be as bad off now. They said our house is worth not much more than what we owe and our debt to income is too high. Well, it sure is now! Appraisals are unfair at this time due to the glut of short sale and foreclosure properties right now. I was 2 weeks late and I was threatened with foreclosure by a third party collections agency employed by Citi- Citi- claims the collections does not know that Citi- was well aware of my "Promise to Pay" in 2 weeks and harassed us daily for 2 weeks. Citi- claims their collections agency will not know until at least a week after my payment that I have paid.
Citi- also charges you if you want a paper statement and pay by check. They also charge if you sign up with them for their auto-pay. The fee gets tacked onto the mortgage I guess, though I need to crunch some numbers to prove this.
Citi- greedily bought my mortgage prior to the recession and the housing crash.
We tried for a refinance and a modification. We faxed them documents as per their instructions and they kept saying they had nothing when I called after weeks of not getting any response. Then they would give me a different fax number and so on repeatedly over months beginning in March 2009, though according to them, the first they heard from me was in July 2009. I never got the same person on the phone. No one will give you an extension so you can talk to the same person when you call back. I have approximately 60 different phone numbers given to me by Citimortgage to resolve my issue with refinance. I am too scared I'll lose my home if I try for a modification with them! We have maxed out many credit cards to pay them during periods of disability, unemployment, and now a forced retirement with a fixed income. Now we are at the point of no return! Had they given us 2 percentage points in interest reduction to 4.75, we would not be as bad off now. They said our house is worth not much more than what we owe and our debt to income is too high. Well, it sure is now! Appraisals are unfair at this time due to the glut of short sale and foreclosure properties right now. I was 2 weeks late and I was threatened with foreclosure by a third party collections agency employed by Citi- Citi- claims the collections does not know that Citi- was well aware of my "Promise to Pay" in 2 weeks and harassed us daily for 2 weeks. Citi- claims their collections agency will not know until at least a week after my payment that I have paid.
Citi- also charges you if you want a paper statement and pay by check. They also charge if you sign up with them for their auto-pay. The fee gets tacked onto the mortgage I guess, though I need to crunch some numbers to prove this.
Citi- greedily bought my mortgage prior to the recession and the housing crash.
Posted by Penny
on August 3, 2010 at 05:58 PM
I started a Citi modification in February 2099. I was told that all documents needed had been received and my file was waiting for the underwriter. In March of 2010 (11 months later) I was denied based on a missing P&L. My file that was reopened for a 1st lean supplemental review, which was denied, than approved and than denied again because of missing paperwork. I have FedEx proof that all was received. I have paid all trial period payments and now was told that none of the payments will be credited towards my account and will be used to cover Citi attorney costs. I am now in foreclosure review, even though I have filed an official appeal to the denial. They are absolute crooks and have no desire to help consumers as they advertise on their home page.
I can't loose my house, please help!!
I can't loose my house, please help!!
Posted by Gina
on July 25, 2010 at 02:18 PM
I am a CA CitiMortgage customer who has experienced all possible frustrations. Any attorneys in CA willing to take on CitiMortgage? I received a phone call from some group stating that CitiMortgage's loan mod paperwork was in violation of the antitrust laws and for a fee, this group would get my loan reduced or my monthly payment reduced. My loan mod process took 11 months. I was verbally told 3 times of my approved loan mod but the written loan mod was completely different from the verbal mod and would have only reduced my APR from 5.75 to 5.70 ($11 less a month), so I refused the mod. Had to send paperwork 6 times. Had 13 different CitiMortgage counselors. Finally wrote letters to CitiMortgage CEO, Better Business Bureau, and my state senators and assembly-persons. The letters helped but it's now been 3 more months while CitiMortgage reverses the mod and escrow accounts and puts me back to my original loan. Have also received phone calls that my payment is late and that I owe CitiMortgage more money.
Posted by Carol C
on July 10, 2010 at 09:26 PM
Citi verbally approved a modification in Oct. 2009.Thet emailed forms. Sent in payment that was promptly sent back, saying a modification hadn't been approved. Faxed additional info multiple times but on subsequent follow ups, told case was closed because they hadn't received any info. We have spoken with 14 different "counselors", some who have given verbal ok to a modification but then don't follow up. House now in foreclosure. The complete incompetence at Citi is amazing. No wonder they needed all that TARP money to survive. Any class action lawyers in CT looking for work?
Posted by C. Shaffer
on July 7, 2010 at 09:09 AM
Is there a class action against CitiMortgage? Would love some info. on this.
Posted by Kay
on July 1, 2010 at 07:19 PM
We are in the exact same position. We are in our 5th month of our trial modification. When I called to make our July payment we were told we are in default and our home is in foreclosure. Citimortgage tells us we don't qualify for the HAMP now.
Posted by Karen Brooke
on July 1, 2010 at 04:01 PM
I'm currently in the same situation concerning CITI Bank. I've made my 3 modified payments, and now I'm waiting for it to become permanent, and now they are requesting more info concerning the amount my condo association pays for the insurance of the building. I'm unable to get that info because my condo association doesn't provide that info. Members are looking to contact legal help to get that info. I got into a finacial mess when I purchased this condo, and I'm going to be paying for this for the rest of my life.
Posted by Michael Hinz
on June 20, 2010 at 11:41 PM
Entered into a loan modification by verbal approval with citimortgage in October 2009. Was denied May of 2010. Modification took 7 months. Citi told us repeatedly that they had all paperwork needed only to turn around and tell us that they needed more paperwork. Submitted that paperwork and was told that they needed more a month later. All the while my credit score was dropping significantly. Credit was destroyed. We do not know what will happen next. Please help us.
Posted by Nichole
on June 3, 2010 at 02:03 PM
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