Citibank
Preapproved home loan not offered on 10 acres, $3000 lost
- 07-06-2012
- 30
I applied for a preapproved home loan with Citibank. I got the preapproval and went looking for a house. I found a house and put down a deposit, and we went through the closing process. The people at Citibank had a hard time keeping track of what paperwork they had and didn't have. I have copies of about 50 emails, and there were numerous calls to one person after another and to their supervisors.
As the closing date got closer, Citibank said they needed an appraisal, survey, and so forth before they could close. Then I came to find out Citibank does not loan on acreage. Really, what kind of incompetent employees work there that they cannot see that a property has acreage on it (10 acres) until the end, when finally another Citibank employee told me "we don't loan on farm or acreage property"?
And now we are out $3000 on a property we cannot get. And we gave them a bailout. And they are not done taking our money.
Company: Citibank
Country: USA