Citibank Mortgage Complaint

Citibank Mortgage department,

Conventional adjustable mortgage (ARM) Loan modification,collection,foreclosure Maryland

My loan originated in -, as a interest only loan. In -, I applied for a Home Affordable Modification Program to run from -/-/- to -/-/- but was breached by -/-/-. In -/-/- the interest only term ended resulting in the monthly premium increasing by $800.00. I received 2 Citimortgage letters ( see attached ) from CitiMortagage dated -/-/- and -/-/- regarding the payments changing. As of -/-/-, the payment was $860.00 by -/-/- the payment was $1000.00 and by -/-/-, $1600.00. In -/-/-, I applied for another HAMP modification and submitted all paper work on time and did n't receive a decision until late -/-/- but was supposed to receive an answer within 30 days. Appeals were requested but the modification was still denied. Due to interest rate only being 4 % which is the rate from the current modification and household expenses to income ratio. According to CitiMortgage modification terms the interest rate was suppose to cap at 5 % in - and the modification terms was suppose to supersede the interest only term, per CitiMortage 's modification contract


Citimortgage intentionally delayed the underwriting process of the HAMP application to avoid honoring any modifications under the program. I believe my application in - and - was unfairly processed. I 'm a victim of predatory lending since the modification was set up for interest only for 120 months. No payment to principal was designed intentionally.These terms was based on Citimortgage in-house modification terms. My account is 90 days delinquent, due to the payment increase. I would like an investigation to be done on the handling of my account from inception until now.