Citibank Mortgage Complaint

Citibank Mortgage department,

Other mortgage Credit decision / Underwriting California

In -, we originated a refinance with a company named - - - -. - did not fund the loan. The reason for the refinance was not to get money out, but to get free from a predatory loan by - home loans while we were in litigation. It cost us over $70000.00 above our principle at that time to secure a refinance agreement. Immediately upon completion of the loan arrangement - notified us that our loan had been " sold '' to CitiMortgage who would be our servicer. During this time we were in litigation with - for their predatory lending practices for charges of fraud and - counts of bad faith. At the end of -, CitiMortgage called us and informed us that as a result of Obama 's bailout plan we qualified for a modification if we wanted to apply. Initially we declined, however as our legal fees mounted, and work slowed down, the next time they called we agreed


In - -, in a - call with - -, Myself and CitiMortgage customer service we were informed that we qualified for a modification and it would be - 45 days until we received the packet in the mail. -45 days passed with no packet arriving, each time we called, CitiMortgage informed us that it was in underwriting, or they were working it. We called again after three months to follow-up. We were informed that because we had not missed a payment our modification had been delayed. If we were in arrears our modification would be 'accelerated '. As the implication ( later confirmed in writing ) ( attached ) was that we needed to miss a payment to have our ( already qualified ) modification issued, we missed a payment in - -. We had a scheduled jury trial date for our lawsuit with - scheduled for - -, -. We called CitiMortgage at the -, as we had not yet received our modification packet. They assured us that it was being completed and we would receive it by - -. We missed - - payment in anticipation of our loan modification packet with the new payment. By - -, we still had not received it. We called CitiMortgage in a panic and CitiMortgage assured us it was on it 's way to us. On - -, -, a customer service employee called us to inform us that we would be receiving our packet soon. On - -, -, we at long last, received a packet, ( attached ) however it was not a full modification, but a trial modification assuring us that if we made the 3-month trial payments we would be qualified for a full modification. CitiMortgage informed us that if they did not receive the payment by - -, - they would withdraw the offer. We sent the payment - overnight. CitiMortgage never intended to honor their modification with us. On - -, -, they transferred servicing of the loan to - who refused to honor the trial modification. In addition to this abusive behavior by the banks and servicers, the news and internet is filled with other ongoing abuse, so that we can anticipate what is coming. What the 'lender/servicer ' says does not coincide with what they do, and to date there is little to no recourse for the borrowers who have been set-up as " foam on the runway '' to foreclosure. When CitiMortgage did not honor the modification. I set out to find the owner of our note, hoping we could plead our case with whoever that 'trust ' was. What I discovered is that was no trust. I was informed by - -, from the CitiMortgage corporate office, that CitiMortgage had never put our 'loan ' in a trust. - did not have their own funds to fund a loan. To date, CitiMortgage has not provided accounting to demonstrate that they funded the loan and in - -, we received a letter from - - - informing us that our first loan was now with - - -. ( attached )