Citimortgage
Escrow Statement Raises Payment $200 or More Despite Math Errors
- 12-02-2008
- 5
Citimortgage is in violation of RESPA laws. They are currently using the phrase as a corporate answer to gauge consumers like myself when they cannot increase your interest. They tell you to send your complaints 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 $749 from the payment. It was mailed FedExed and faxed to the company, 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 processing, which could take up to 30 days. I only have 15 days until 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.
Company: Citimortgage
Country: USA
State: Ohio
City: Columbus
Address: PO Box 183040
Phone: 8664276473