CitiBank Pre-Approved Refinance under the Obama plan is not Pre-Approved in the sense like credit card offers are Pre-Approved, and if your not careful you will miss a payment per instructions then throw your perfect payment off when this loan does not go through.
The staff all along the way is clueless as to what is required to approve for this "Pre-Approved" offer.
I was told twice that I do not need to verify employment, yet they needed a ball park figure of my income and the exact amount is not required because it's insignificant anyway, but that's not the case.
I got this house when loans were easy, I was self employed, presented a few unofficial documents to show I did business and made a claim of income with no official documents. I am one of the few who got a fixed rate, did not get into debt above my head and still in my house, but CitiBank put me at risk of losing it all by getting ahead of themselves by saying I was Pre-Approved, they sent out a notary, we processed all the paperwork, the notary said don't make your next mortgage payment which is normal procedure but CitiBank never bothered to notify me the re-finance never went through.
If I hadn't pestered them along the way I never would have known that it didn't go through based on my inability to provide official proof of employment.
What a rinky dink operation, if I wasn't familiar with the name I would have pegged them as scammers, and I still have my suspicion of shady activity mainly because in the year 2012 it's just so unbelievable that people in business can really be as dumb as what I experienced at CitiBank, but perhaps that is to be expected in the dumbing down of Americans. I did make my payment on time and I hope there are no residual effects from this really stupid experience with CitiBank. "Pre-Approved" Ha! What a bunch of morons.
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