Do not refinance with Citi Mortgage. We responded to a mail offer to refinance our current mortgage, which they already held. They charged us a $640 non-refundable fee for the refinance. It was non-refundable even if we canceled the process for some reason.
We sent in the requested paperwork twice, and they canceled our application because they said we did not submit the paperwork. They called and left a message on our answering machine with no return number. The last message we received was that the application had gone to underwriting. In every mortgage I have applied for in the past, that does not happen unless they have all the documents!
Two days later we received a letter saying our application was being canceled because we did not send the requested documents, which we did. When we asked for a refund of our application fee, they said it was non-refundable.
We contacted the CEO of Citi, and he referred me to a useless assistant who did nothing to help. To make matters worse, she said that due to our low appraisal she could not help us. The house appraised for $20,000 less than a smaller house up the road, and when we questioned this, we were told it was not relevant.
We have already filed a complaint with the FTC and will also be filing with the state. We may need to go to small claims court to get our money back. It is no wonder their stock is doing poorly.
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