Keep reporting this rip-off artist! Together we can stop them forever!!!
On July 6, 1999, my husband & I obtained a mortgage from The Associates in the amount of $126,195.42. On August 6, the debt was paid in full through refinance to Citifinancial in the amount of $132,876.94, a difference of $6,681.52. We tried repeatedly to obtain a payoff statement &/or an explanation of how this 4 year mortgage increased, to no avail. We were actually told that there was no record of our mortgage. Can you believe it?
We actually started making our payments to Citifinancial within 6 months of obtaining the mortgage, so I find it hard to believe that there was no record. Don't misunderstand me, we did run into hard times shortly after we bought our home. I lost my job in October, 1999 & didn't find employment until January, but our payments were made within the month due. There is no reason that this mortgage increased over 4 years. I am in the mortgage business, and believe me, whatever they are doing is illegal!!!
I am sure it falls into predatory lending, which in most states is illegal. I guess I shouldn't complain because we are out from their grip, but on the other hand, with the payoff being $6,681.52, we had to borrow more to refinance than anticipated. Thank God we were able to borrow that much. I am still, to this day, trying to obtain an explanation of this. I have filed reports with every state & federal agency from North Carolina to Texas, including New York, where their sister group of Citigroup is located.
I say to everyone who reads this & has had this nightmare happen to them: get on the bandwagon, file reports!!! I think it helps. I have had responses from the Attorney Generals in Texas & North Carolina; they have contacted Citifinancial for an explanation. There have been many lawsuits against this predator that they have lost and have had to pay out millions. They owe more!!! We, as consumers, can make them pay!!!
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