In November we obtained a second mortgage from CitiFinancial in Portage, WI. It was against our better judgment, but it was the only thing that would work at that time. Shortly after we got the loan, our loan officer left "suddenly." Everything seemed to go downhill from there, with mistakes, etc.
I admit we had some financial problems, late payments and deferred payments. But when we refinanced the loan in November with another company for a lower rate, we ended up paying almost $2000 more than we originally borrowed two years ago. In October we had taken out a personal loan, so we assumed that was also paid off because of the amount of the payoff. We made the December payment anyway because we were unsure and knew we would get a refund.
We received both notes in the mail stamped paid in full, along with a small refund. We called and asked about the refund of the December payment. There was a big gasp when they realized we were holding the original note stamped paid in full. They wanted us to return it to them, saying it was a clerical error and that the person had been "let go."
We have maintained that we are holding a paid-in-full note. How can you collect on a loan that is showing paid in full, even if your computer system does not show it paid in full? How can they collect when I am holding the original note stamped paid in full?
They are showing us with late payments and past due amounts on our credit report and will not "eat" their mistake. They have also stated they would be taking us to court. I can't afford to hire a lawyer, so I am just going day by day to see what is going to happen. I hate to let this affect our credit, but what are we to do? I feel like it's a losing battle with these people.
I warn anyone who thinks about getting a loan from them to run as fast as they can away from them. There have been nothing but mistakes made on our account since we got the loan, including something with late fees or something that resulted in a $1000 refund! In addition, the Portage branch last had its computer screens facing the window, so someone could come by and potentially gain personal information.
I will never darken their door again.
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