I have been with Citimortgage for five years now, not by choice. Mortgage loans always sells on secondary market. Unfortunately mine was sold to Citimortgage. Eveything was ok until beginning of this year. I received a service fee of $0.30. I called 800 283-7918 customer service call center somewhere in India. They told me it was interest charge for shortage on escrow. How could that be? I have been paying the full amount and on time for the past five years. I started digging my past statements and found out why.
On September 9 Citimortgage paid $5,174.00 for force place insurance out of my escrow account. I look at my own insurance declaration. It is in full force for one whole year from 01/20/08 through 01/20/09 with no break in coverage. Citimortgage decided to buy an expensive insurance on their behalf without my knowledge, without my permission, without my signature.
I have written to PO Box 9438 Gaithersburg MD 20898 address on January 28 and have not gotten any response. I just wrote Citimortgage a second letter. I don't expect to receive any response either. Just Google 'Citimortgage complaints' and you will see thousands of horror stories.
I doubt I will I receive any escrow refund unless I file legal action. I wrote this to inform you consumers out there that Citimortgage is a thief, ripoff, con artist and scam company. This company will look for every detail to squeeze every fee and profits out of regular consumers like you. If you have a loan through Citimortgage, BEWARE. Look at your statement every month for undisclose service fee or mysterious charges and challenge them in writing. Complain to your local congressmen, local news channel, Federal Trade Comission, Better Business Bureau and Internet. I am doing that right now. I hope there is a class action law suit against Citimortgage. If there is a lawyer looking into this, count me in!
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