In November 08 I chose to try to get my interest-rate decreased by distributing a practical solutions deal. I had been informed it'd get approximately 45 times to get a reaction. I'm still waiting. On Friday, Dec 19 I obtained an "Immediate" UPS overnight cover from Cititmortgage requesting me to instantly contact them in regards to a fresh "mortgage loan modification" plan open to clients. I approached Citimortgage very first thing the next Friday morning, Dec 23. I sent total the required paperwork and was informed somebody might contact me within 14 days. I'm still waiting. Therefore today I'm in limbo with 2 individual applications Citimortgage is allegedly focusing on to change my mortgage. To create things more difficult, that we consider full liability for, after I settled my January 1,09 cost, I actually went it directly into Citibank nevertheless I skipped my cut off period to deposit resources into my own banking account that we published my mortgage check up on. Therefore the onetime the check clears the exact same evening it did and that I had insufficient resources. I named Citimortgage to inform them towards the reality plus they stated to not fear, it was typical and they might deposit the check a second period and that I wouldn't get a thirty-day overdue on my credit. Then when 1/28 folded around and also the check nevertheless hadn't been redeposited I acquired concerned and called Citimortgage, I had been again informed to not fear the check hadn't been delivered back by my lender however which after they obtain it, it'd be redeposited. Therefore nowadays, 2/9/09 I receive a letter dated 2/2, postmarked 2/6 stating that my account is delinquent and to submit certified funds in the amount of $8K in order to bring my account present. Obviously $8K is a lot greater than my fee amount. I called Cititmortgage and after being about the telephone for around 2 hours and talking to 6 individual people I had been ultimately informed they did attempt to re deposit my look for a second period also it returned again. I had been mad. Our resources significantly exceeded the check quantity everyday. I also confirmed with my bank supervisor that Citimortgage never redeposited the check a second period. Our bank supervisor is planning a notice to Citimortgage declaring these details. When they were simply truthful right from the start I'd have settled the mortgage in money, but I respected the info they could be redepositing my check a second period that they never did. Today I've a late on my credit history since I created the error and depended upon incorrect data from Citimortgage. Our stomach tells me my check was resting there all-along for that previous four weeks plus they waited till I had been handed the one month tag to throw me with additional costs along with a tag on my credit. And of course I'm still waiting about the response for my mortgage loan modification 81 days later. On Bloomberg Monetary Television, Economic Specialists condition CITI is recognized as among the toughest banks in the market and really should not be bailed out, but because CITI is really large the federal government is scared to ignore it under. I'm unsure what can be achieved to safeguard ourselves from enormous chaos of the business.
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