Citimortgage is in violation of RESPA laws. They are currently using the phrase as a corporate answer to guage consumers like myself when they cannot increase your interest. They tell you to send your compaints to the Office of Thrift Supervision a branch of treas. Gov.
Citimortgage bought my mortgage from a smaller company. I am currently at a 5.25% interest rate which they are desperately trying to get me to refinance. For the last two years I go through a three month process of daily phone calls about the "Escrow Account Disclosure Statement" that raises my payment by at least $200.00. After speaking with various states and countries in regards to the mathematical errors, numerous supervisors explain that I can't do anything about it. I eventually speak with someone (Mike Jarret) no longer an employee; who knows second grade math.
I've signed a waiver about removing my hazard insurance from the escrow which knocks off $749from the payment. It was mailed fed-exed and faxed to the comapny which they said needed to be delivered to them in their envelope. So I faxed 100 copies every half hour for 5 hours one day. They e-mailed me back and said they received it and it was in processesing which could take up to 30 days. I only have 15 days til my mortgage is considered late and they add a fine.
The insurance payment was taken off. Now they are adding only a $90 dollar increase to the actual payment. How is it they can subtract $749 from a total and come up with a $90 monthly increase? Are Bush and Paulson private investors in this corporation;$45 billion in one month and stealing from the private sector? How can they legally sit on $1080 of my money and I see no interest on the account? I personally do not bank with Citi for a reason; I never went to them for the loan.
I say someone should start a class action lawsuit before the laws are changed with the new president. One can only imagine where his investments lay. Chicago Politics.
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