Citibank
Bank pushing foreclosure despite full-price buyer ready to close

I have sent this email to Mr. Vikram Pandit, CEO of Citigroup (and I have cc'd other executives who should read this email for themselves). I thought you would be eager to be made aware of the strong-arm tactics your bank is using against consumers who are trying to avoid foreclosure.

I have a 650 credit score, I have missed 2 payments on my house loan (both in the last 45 days), I lost my job for 7 months, and I now have a job paying me 40% of what I made previously. My new job is in a different town, and I cannot afford to continue making a house payment on my vacant home and a rental payment in the new town (which I did for several months despite all of the above issues).

I have found a buyer who is willing to close on my vacant home at the appraised price (the full appraised value) in two weeks, and Citi has agreed to the terms of the deal (as you validated the appraisal). Yet you (per Sandra Cline) are going to push me into foreclosure rather than wait 5 business days past your arbitrary deadline of October 27th to close. You can see for yourself the nature of her written correspondence below (the email was attached to this email). What is your company gaining? Why are you treating consumers this way?

This is why people are protesting across America about the banks. I would never treat another human being in my circumstances the way your company is treating me regarding this matter. This issue and this transaction represent the lowest point in my life, and the stress of this event has been overwhelming. I stand within 2 weeks of being able to close it and start my life anew, and your company is going to bury me instead of giving me 5 more days.

I sincerely and desperately request that you or one of your managers reconsider your position of forcing me into foreclosure because you are unwilling to wait 5 business days to close on my home.

Company: Citibank
Country: USA

  <     >