I started my first mortgage ever with Ameriquest. Long story short, I had to file Chapter 13 because my idiot ex-wife did not pay the mortgage. So I was put into an ARM, and the escrow was included. All of this was to save my home from foreclosure. Now I have Citi Residential Lending Inc., which has bought out AMC, formerly Ameriquest, and Argent too? My interest rate rose 2 percentage points every 6 months, to a total of 12%. Since the feds lowered rates, Citi was very generous and lowered mine by 1 percentage point.
Recently I was sent a letter from Citi claiming I was behind $3000 on my escrow. I thought this was impossible, since my total taxes last year were $2800. They raised my mortgage to cover the cost of the new escrow. Instead, I paid the $3000 in full so my mortgage would stay the same amount. When I asked how they came to these figures for the escrow, they admitted that they just "guessed." I asked what happens to the escrow money that will not be used. They claim I will get it back. We will see.
Also recently, I was sent a letter stating that I was behind on my mortgage and that they had kicked my latest mortgage check back because it did not satisfy the default amount. Since I do not get any statements, I had no idea that I was behind. So I went ahead and sent the amount that they claimed I was behind.
I am really sick and tired of this company, and I feel as if I am getting scammed because all they want is my property. Anyone who can help or has suggestions on what to do with them is greatly appreciated. I will not be able to try to refinance until Sep. '08, when the bankruptcy is finally discharged. I want to get rid of this company ASAP! Thanks for taking the time to read this.
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