I am having problems with CitiResidential "monitoring" claim response activity, basically confiscating the insurance proceeds, and then holding them for undetermined amounts of time. CitiResidential Lending, part of CitiGroup, is my mortgage company and is holding my insurance money until I am 100% complete with my repairs.
In other words, I have to front $9,700 even though my insurance company paid me. I think they are doing it to draw interest off of the Ike victims because they are in financial straits. I have spent countless hours on the phone with about 25 different managers in CR's Loss Draft department, none of whom have an email address or a last name. They constantly have an excuse for not sending me my insurance money.
I am at the point that I want to abandon my half-finished home because I am tired of living in the mess. We have had to complete most of the work ourselves because what little they did give us out of our insurance proceeds would not cover hiring a contractor to replace a roof and gut and replace sheetrock, insulation, and siding on the home. I am not the only person being treated this way, and I think it is a scam for them to draw interest off our hardship.
Since the government is now bailing them out along with AIG and my tax dollars, you would think they would be more accommodating.
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