Citibank Mortgage Complaint

Citibank Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account Connecticut

I have a mortgage serviced by CitiMortgage Inc., account number -. They have sent me a - page letter explaining that they need to raise the monthly escrow payment about $42.00 per month or $500.00 per year. BUT NOWHERE DO THEY E-PLAIN HOW THEY CALCULATED THE " Expense Increase ''. My mortgage escrow is for taxes only. Taxes are collected in - and -. The - payment and the - payment are the same ( within one penny ). The - payment was $5600.00, and I reckon the - payment will be no more that $5600.00. Last year 's - bill was -, so there was an annual increase of about $300.00 between - and -. The stated Low Point in - was $1400.00! And they collect $930.00 each month. If you escrow the tax payment ( $5600.00 x - / - ), it equals $940.00 per month, not the $960.00 that Citimortgage is demanding. Moreover there will be over a $1000.00 or - % surplus in the mortgage account. Please investigate this unlawful practice. Where does it say that I have to have two month 's reserve at all times? In another place in the - page form, they say that the miscalculation between - - and - - was only $120.00 not $390.00. I do n't need pages of explanation. I need hard facts as to why they think the taxing authority is going to raise taxes in - - that would equal a - % increase from - taxes. Please help. I have no legal recourse except through you.