Citimortgage
Higher-Rate Second Loan Approved After Mortgage Denial

It was recently brought to my attention that CitiFinancial allows high-interest second mortgage loans as is its right. As we all know, it is up to the consumer to accept or reject the terms of a loan agreement. I am in a situation where I have taken out a second loan with CitiFinancial.

However, my situation appears to be a little different. Let me explain. A while back, I applied for a second mortgage with Citimortgage, which also holds the first mortgage on my home. I was denied because of late payments on my account. During the same time frame, I applied with CitiFinancial and was approved with the same credit information.

My concern is this: both companies are under Citigroup, so why was the loan approved by CitiFinancial at the higher interest rate and not at the lower rate through Citimortgage? I have looked over my credit report and do not believe I should have been approved for the second loan. Most of the high-interest loans are given to people in low-income areas or whose credit is not up to snuff, and I feel that my credit falls in the latter group.

Please advise me regarding any watch groups, current class actions, etc. related to the above.

Company: Citimortgage
Country: USA
State: Maryland
City: GAITHERSBURG
Address: PO BOX 8450
Phone: 8007237906

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