Our credit was not the best and Citifinancial Mortgage offered us the "best deal". (Should have known...)
It took 8 weeks for the loan to close. For 4 weeks, we were promised "tomorrow". The paperwork sent to the attorney was never right. Something was always wrong. The documents clerk called me and we went over the documents. I asked for copies to be faxed to me and she said she could not do that, but that she could email them to me. I said fine. I could not open the document.
By this time, the seller and the realtor both were getting more than edgy about the sale. Both thought that we were the ones at fault and not providing what the lender was asking for. It was the realtor's atty that finally got them to understand it was not us.
When we got to closing, we found that they had made the loan an ARM, although everyday for 2 months they told me it was a fixed rate loan. Another provision that "just appeared" was the hefty prepayment penalty - 2 & 3% on a $100,000 note. But, because of the length of time involved, we signed anyway.
We bought two lots side by side. The taxes were billed separately. The escrow showed 2 separate tax payments to be paid.
We paid escrow for taxes and insurance and when we got the tax bill in August we sent it in. I called them on 4 Jan and they assured me the taxes had been paid. On 7 Jan, we get a delinquent notice on the tax due on the unimproved lot.
I called them that day. Because my husband was the borrower, although I signed the mortgage note, they would not talk to me. I am the bill payer and finance person. It took my husband 5 phone calls and 2 faxes to get me authorized to talk about the account; and that didn't happen until I tried to call while we were both at home and they STILL wouldn't talk to me. He got to a supervisor's supervisor and since he had a confirmation of fax and a name he sent it to, I was finally granted access.
The escrow person I talked to agreed that the tax was due and that we had paid escrow for it and that it would be paid within 10 business days and that I would get a new escrow analysis.
On Feb 3, we get another delinquent notice with a court date. I
I call again and the escrow rep read to me the entry an escrow supervisor had put in: That they financed only one lot and were accepting escrow for one lot and they were not liable for the tax. (BOLD FACE LIE)
Did they call me to let me know I would have to make that payment? NO! Of course not.
I got hold of a supervisor. I was able to show him that both lots were on the legal description and on the mortgage. He then told me that we had not paid sufficient escrow for them to pay. I was able to prove to him by their very own documents that we had indeed paid enough escrow, both at closing and monthly. (In fact, our payments were reduced by $4/mo because of the excess escrow)
He told me to send him the bill. I told him I was going to pay the tax because I could not trust them to be able to perform their jobs competently to keep my butt out of court. I faxed him the bill, proof of payment and a request for a hard copy refund.
Now, a week later, I cannot ever seem to get hold of ANYONE in the escrow department. I have faxed both the man my husband faxed information to, and to the escrow supervisor.
We are looking to refi and in readying other postings, I am terrified of the ordeal that will be.
Is anyone out there willing to do a class action suit with us on this company for imcomptentcy, fraud, lies etc?
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