Tangi Cruz
2896 Via Palma, Lake Worth, California 33461
(561) 853-5721
September 2
CitiMortgage, Inc.
Loss Mitigation Division
1000 Technology-Drive
O’Fallon, MO 63368
Fax Number: 301-696-4473
Re: Mortgage Quantity 20039573256
Overview of Scenario
Because Of economic difficulty consequently of an urgent breakup at the conclusion of I approached CitiMortgage, Inc. At the start of January to describe that I needed support obtaining my mortgage altered.
On January 14, I sent over my CitiMortgage Practical Alternatives Software which contains fifty eight pages.
On January 26 I named CitiMortgage, Inc. They mentioned they'd obtained my fax but were still focusing on researching it. They'd contact me back shortly. I never heard from their website.
On January 23, I named CitiMortgage, Inc. And talked to representative “Mark”. He mentioned the fifty eight websites of my CitiMortgage Practical Alternatives Software hadn't been “scanned” in however and he'd need to move me to “Whitney” with CitiMortgage, Inc. Loss Mitigation Division. “Whitney” told me that I'd have to do a “trial run” of altered funds of
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$ 995.00 for four weeks to show I really could manage them-and spend promptly. After spending these four funds I'd subsequently be eligible for a lasting altered mortgage plan. She mentioned that she'd be sending the paperwork regarding this agreement in my experience for my evaluation and trademark after which for me personally to come back them to CitiMortgage, Inc. “Whitney” directed me to contact CitiMortgage Loss Mitigation Division back soon after spending my July cost to accomplish the procedure. I never did obtain any paperwork over these four months-even though I'd created many phone calls seeking them. I did so spend the altered funds of $ 995.00 promptly in March, May, May and June as required.
June 29th and September 1st
Given below is just a overview of essential specifics which were coated in phone conversations with “Ms. Rachael, Supervisor” of CitiMortgage, Inc. And myself on Friday, June 29th with “Ms. Aaron, Supervisor” of CitiMortgage, Inc. Along Ms. Ivy with the Expectation for Homeowners Business and myself on Thursday, July 1st regarding my impending House Inexpensive Change for that above-referenced mortgage quantity.
• On Monday, June 29th “Ms. Rachel, Supervisor” of CitiMortgage, Inc. Offered me info concerning the funds I'd need to spend underneath the House Inexpensive Change System. I mentioned the quantity CitiMortgage, Inc. Was seeking from me like a payment per month was greater than I'd been spending money on the previous four weeks and didn't replicate a revised mortgage cost of 31% (thirty one percentage) of my revenues (as given in Your Home Inexpensive Change Program Instructions). “Ms. Rachael” mentioned “We don’t need to do something for you personally but this is exactly what we're providing. You are able to evaluate and signal the change contract or you are able to spend a mechanism cost of around $ 3,400.00 that will be due July 25th.” She mentioned that I had been never on the test schedule to get a change plan however in forbearance. Never anytime since my discussions began with CitiMortgage, Inc. On January 23 did anybody express in my experience forbearance or perhaps a mechanism payment being due in July.
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• On Wednesday, July 1st Ms. Ivy with the Expectation for Homeowner’s Business and myself approached CitiMortgage, Inc. Again regarding this case. While talking to “Ms. Aaron, Supervisor” at CitiMortgage, Inc. Concerning the problem of my altered cost not achieving the 31% mortgage cost objective “Ms. Aaron” mentioned that “these would be the numbers our computer program is providing us”. We stated once more the numbers where not appropriate. Based on the recommendations of the House Inexpensive Change Plan, the borrows’ regular mortgage cost, including primary, curiosity, home taxes, home insurance, etc. Ought to be established at 31% of the borrows’ revenues. To be able to achieve the goal cost degree of 31%, interest funds could be decreased right down to as little as 2%. If at that price your debt to revenue degree continues to be over 31%, then your bank must increase the word or amortization period as much as 40 years and lastly if required, forbear primary at no-interest, before cost is decreased towards the 31% goal. “Ms. Aaron” then put Ivy with the Expectation for Homeowner’s Business and myself on-hold to go over this issue along with her boss. She returned and mentioned “My boss has educated me to inform you there has to be a glitch within our computer program. He'll possess a specialist consider it. You'll need to call-back in two weeks”. I had been recommended subsequently by expect Homeowner’s that people must finish our phone discussion with CitiMortgage, Inc.
I'll be calling in fourteen days plus a consultant in the expect Homeowner’s Business. I will just wish the “glitch” in CitiMortgage, Inc.’s pc process that's providing wrong data is likely to be set to ensure that myself and perhaps additional CitiMortgage, Inc. Clients to obtain correct altered funds add up to 31% of the borrows’ revenues as reported by Leader Obama’s House Inexpensive Change System.
Meanwhile, I stay for another fourteen days with this specific so-called “balloon payment” dangling over my mind and my kids and that I questioning what's likely to occur to our house. I've actually performed anything CitiMortgage, Inc. Has requested me to complete
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For that previous four weeks and also have investigated the U.S. Department of the Treasury’s recommendations due to their “Making House Affordable” plan towards the highest degree simply to discover myself within an illegal business scenario.
I clearly realize that lender’s, including CitiMortgage, Inc., are getting resources in the U.S. Treasury for taking part in the program. I'd prefer to genuinely believe that CitiMortgage, Inc. Is following a Generating House Inexpensive recommendations precisely being that they are economically taking advantage of the U.S. Government. I suppose in fourteen days I'll understand the clear answer for this.
I'd also prefer to condition I've been recommended to contact Their State of Florida Lawyer General’s workplace regarding this “glitch” in CitiMortgage, Inc. Pc program as well as consult with them the facts of my scenario. I'll be causeing the mobile call along side mailing this notice towards the below-listed companies and companies. If CitiMortgage, Inc. Or the subsequent carbon-copied companies want to contact me, you are able to reach me anytime at 561-853-5721.
Truly,
Tangi Cruz
Cc: Mr. Bill McCollum, Attorneygeneral/State-Of California
National Trade Commission& FDIC
Better Business Office
Expect Householders
WPEC News 12
Notice: The spelling of the employee’s titles at CitiMortgage, Inc. Might be wrong with no last names are actually provided.
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