Citimortgage
Five Months of Refinance Promises Ending in Loan Denial

I listened to everyone else about refinancing because of the low interest rate. I've been in my home for 20 years and my mortgage is with Citimortgage. I'm also on the bi-weekly plan to pay off the mortgage sooner. When I talked to Mr. Matern about my interest rate, which is 8%, I wanted the 5% lower rate. He said that he could do something and pay off some credit cards.

It started in August, when my house was appraised. Paperwork was done. My consultant Tara Young said I would close in 2 weeks. So I told my creditors that I was going to pay off the balances on my cards because I was refinancing. Well, I kept getting the run-around. Then in November Asai Foster called me at my job and said she would handle my loan because Tara Young was sick and out of work for a while. So I sent the documents she requested and she said she wanted to close as soon as possible. I told her me too.

Well, in December I called and asked what was going on and whether there was a problem. No, the underwriters had my loan. So we should close soon, but it never happened. Before Christmas I called and got Tara Young. She couldn't believe I hadn't closed yet. She said that on her computer it says my closing date is December 22, and I said I haven't heard anything. Then nobody called me. I left lots of messages for Asia Foster and Mr. Matern and nothing. Finally I talked to someone and was told I was denied. After 5 months of promises and lies, I told them, if I can pay 8%, why can't I get 5% on a new loan?

He finally called with a deal that wouldn't cost me another $500.00 appl. fee. He said that it would be a streamline FHA at 5% fixed for 30 years. I was concerned with the length of the mortgage, but he said it didn't matter, just add on another 200 and you could pay it off in 12 years. Plus I figured with my credit cards rolled in that it would work. But I asked if he could talk to my brother-in-law about the proposal because he's a business financial adviser, and he said no problem.

My brother-in-law left message after message to call me at my home, work and cell number. Nothing. This was after the 27th, so we both figured it was New Year's and maybe he went on vacation. He never called me or my brother-in-law. Finally my sister left a message. So I got home and he was on my answering machine saying that he wants to help and that he's sorry for not answering my messages. He apologized, said call me, he really wants to help. I called for a week. Nothing.

Finally I got so angry I told him that I'm turning him in to the BBB and that they treated me so badly. And he said have a nice day. Now I tried to refinance with another bank and they can't touch me because they ruined my credit score. So be very careful. I've heard other people have had a lot of problems with them.

Company: Citimortgage
Country: USA

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