Citimortgage
Escrow Refund Withheld 30 Days After Mortgage Payoff

A payoff was sent on April 1. They said they didn't receive it until April 12 (the other bank that was also sent a payoff received it the next day). They processed the bank check and now will not release my escrow fund, totaling $3,000, for 30 days. They say it's bank policy, and I say it's just a way of keeping the money to make interest. While my puny three grand is nothing to them, combined with everyone else's money it makes for a lot of interest for them to earn.

Any check will clear within a week (tops), and a bank check should clear immediately. I am also of the opinion that this bank does not have its customer service reps in this country. I will be so grateful to be done with them and then deal with my local bank.

Company: Citimortgage
Country: USA

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