Citimortgage
Excess flood insurance demanded and foreclosure letters sent

My loan is with Citimortgage, but I handle my property taxes myself and use an insurance company I have trusted for years. No escrow account has ever existed on my loan.

Flood coverage was never a problem until July, when the lender sent me a policy for additional flood insurance. I contacted my insurer immediately. My mortgage balance is 30,000 dollars, yet Citimortgage claimed my flood coverage was inadequate and wanted it increased by another 170,000. My coverage now totals 220,000.

The lender then opened an escrow account, and I have been trying to get that sorted out since last year. Letter after letter arrives threatening foreclosure unless I pay into the escrow. All of it traces back to the flood insurance, and the representatives are unable to fix anything. I get sent to India, and then passed along to yet another person. My husband, my insurer and I have called them over and over to say my coverage is sufficient. We faxed the policies and talked with many representatives. Each one says the problem has been corrected, the policy has been cancelled, and a confirmation letter will follow. That letter has never come.

I called again today, and the representative promised a resolution but said my insurer must fax the policy yet again, which would be the tenth time, or possibly more, since I stopped counting. Nothing is resolved and I am still waiting.

The stress has spread through our home, to the point that our children are feeling it. The lender has started hurting our credit and is adding late charges on payments that were not late. They also bill us for sending an inspector to check whether the house is vacant. Surely something can be done to end this harassment. It is unfair, and not only the banks are suffering. I hope someone who reads our letters will step in before things worsen and more families lose their homes. Thank you for reading.

Company: Citimortgage
Country: USA
State: Ohio
City: Springfield
Address: P.O. Box 7706
Phone: 8004428774

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