I've been with this mortgage company for years and they sent me information about lowering my interest rate. I called them and went ahead and applied for the loan. At the time, speaking with the representative he basically told me there would be no problem lowereing the rate. He also ask if I wanted to apply for a credit card with no interest, so I did and recieved a card. I then recieved a denial on my Refi loan, which costs $415. I have never been late or missed a payment, so I called and basically told them I thought this was a scam to get $415 to make for the loan they recieved from the government. It just seems strange to get denied for a lower rate but at the same time get approved for a credit card. I would not recommend this mortgage company to anyone. They didn't even try to explain themselves. Shame on them!!

Complaint similar to many previously noted. I intentially stopped making payments as we entered the modification negotiation process being told that there was no risk of foreclosure because we were in an active modification and the payments would be rolled to the end of the loan. The modification was to be done on both first and second mortgages, both held by Citi. Submitted all documents as requested by the deadlines stated and then received notice that the first mortgage is now in foreclosure and the second has already been charged off to the tune of around $4o, 000. I was lied to numerous times about the foreclosure and the charge off being told there was no risk! Trying to stop the foreclosure now so that my family with our eight week old granddaughter living with us can stay in our home. After reading other posts here, I am sure that they will do the trial period thing and then deny me later. This form of organized crime must be stopped before we are all victims. Please help!!!

Citimortgage lost of mortgage payment of mine in December of 2008, i have spent countless hours on the phone with them trying to get the matter resolved, and it is still lost, 21 months later.
If you can imagine the 3 stooges startging a mortgage company, it would be CitiMortgage, that is if they also enlisted some help on the phones from India.

In February of 2009 I started the process of getting a loan modification because like most of us I had a reduction in pay and planning 6 months in advance knew I was not going to be able to keep up my mortgage payments. I started by filling out Citimortgage’s hardship affidavit and sending them all of the appropriate documentation. What started as a simple process has since become my worst nightmare. First Citibank kept losing my documentation, so I kept resending it. Then after months and months with no word from Citimortgage my financial situation deteriorated even further. Still I continued to make my mortgage payments in full and on time. This of course meant I was charging necessities on my credit cards driving me further in debt, but I did not want to neglect my responsibilities. Then in one of the many conversations I had with Citimortgage’s loss mitigation department, I was convinced that I should sign up for a plan, where my mortgage payments would be lowered for a period of three months. Within this time I was told that the remortilization would be completed. The problem was that if it was not I would have to make balloon payments to make up for the reduction and then some. I did not want to do this because I knew that if it didn’t happen within the three month time frame I would not be able to pay the ridiculous sum of the balloon payment in the end.
I should mention that I have two mortgages with Citibank. When I applied for a mortgage for my house I took a second mortgage to pay for the down payment on my house. Sound familiar?
I know I should not have enrolled in this 3 month program, but at the time I was told by the Citimortgage representative that it was the only way to get a remortilization, and if I didn’t (which I refused twice already) then I would be at the bottom of the list and it simple would never happen. They told me this. At this time knowing making my next payment in full was going to be extremely difficult I opted into the plan. Of course as I expected three months came and went and I was still waiting. Now Citimortage was looking for the balloon payment which I didn’t have. All this time I had continued to make payments every month 1 week early.
Next, I ran into some financial trouble and made 1 late payment on my first mortgage. The next month I had some extra money and caught up on my 1st mortgage except for the balloon payment and paid everything on the second including that balloon payment, making me current. Then Citimortgage made me reapply for the hardship affidavit, I think for the 4th or 5th time and put me into another program with a reduced payment on my 1st mortgage only. These payments were to reflect what I would be looking at after the re-mortilization, however they would no longer look at my 2nd mortgage and I continued making the full payment on that account. This was at the end of the summer last year and again was supposed to last another 3 months and they assured me that legally it could not last longer. I was also told to make the payment early and by phone to ensure they were received on time.
I was also told that they had to re-finance the 1st mortgage and only after could they even look at the second. For the last year and a half my only goal has been to refinance my mortgage by merging the two. I am fine paying the 1st mortgage, it is the second that puts me over the top.
Up to the current: after waiting and making my payments every month early and by phone (which they started charging me $20.00 per payment, so $40.00 each month) they bumped me out of the program May 21st 2010. I only found this out when I called to make my monthly payment and I couldn’t. I should also mention that during this time I’ve had about 10 “specialists” handling my account, none of which will return a phone call and believe me I call. The last person whom I did get a hold of told me that they might be able to do a “normal” refinance, but I had to resubmit my paperwork for the 6th time. She also told me that I was bumped out of the program because I didn’t qualify. Why do I all of a sudden not qualify, when I was told that I did 10 months ago and my income has since reduced again? The calculations for disqualification she gave me were also incorrect, but she was adamant that they were.
I am at a loss. Currently, I get calls from Citimortgage 3 times a week demanding payment. Then there are the companies Citimortgage hires to drop off unmarked letters to call them regarding my account. I really feel like I have been swindled by Citimortgage. If I had never been coerced into the payment reduction with the balloon payment, I would have been fine….struggled but I would have made it. Now, my credit is ruined (they have reported that I am outstanding at least 6 months, though I have never missed a payment) and I don’t know when I will ever be able to pay the $7, 000.00 balloon payment they say I owe. Not to mention the reduction in payment over the past year does not come close to $7, 000.00. What do I do now? Walk away from my house? Stop paying? I feel like I’m dealing with a loan shark. Citimortgage has me in a position where I have no choice, but to pay them this exorbitant amount, which they know I can’t or foreclose on my home. It is like they want to be in a position where I have to stop paying them on purpose. I don’t know how else to look at it. I thought they were helping me and instead they are ruining my financial life.

It is very common these days for homeowners to find themselves in an upside down situation in regards to their homes. We live in the state of Florida where the housing market has been on a continuous roller coaster downhill. 4 years ago my husband and I purchased our first home (a town home). We saw that the housing market was climbing up and up. Being first time buyers, we were afraid that if we didn't get in then, we wouldn't be able to afford a home at all. So we OVERPAID for our home. 2 years ago when the market went down, we saw a good opportunity to buy our second home. We purchased our second home for more room and more privacy because we were a growing family. We figured we would be able to sell our home and walk away even, not in the hole. Foreclosure after foreclosure and short sales in the town home community, the property value of our home dropped 75%. We currently rent the home out for only the interest of our mortgage. We have an arm on the loan, it is considered an investment property (which is quite comical) so no bank is willing to help us and we can not refinance b/c it is not worth enough of the loan out on it. Citimortgage has been making 6.5% interest on our loan for the past 4 years. We have never missed a payment and we would like to do "right" by the community and keep the home in good standing. We loose money every month on the property now and when the principal of the mortgage kicks in, we will not be able to afford the home. This brings me to our problem. All we need Citi to do is lower the interest rate and lock that in for 30 years. With the economy being the way it is, my husband and I can not risk taking a hit on our credit by not paying the mortgage or short selling it. If he were to lose his job and have to get another one, they look at credit and they could decide not to hire him b/c of our financial decisions. I am so frustrated with Citi b/c they want us to be in trouble with our mortgage before they help us. They would rather us short sale on the property then to help good customers. I do not understand this. With a resolution that seems so easy to fix, why are they not willing? I really need some one who can help, I have called every mortgage company I know and have called all the "help" agencies that Obama put into force for this type of thing, but I get the same answer all the time - you are making payments on time and can afford the payments. Why would anyone help you? Well our problem will come when our arm expires and principal kicks in, then we will not be able to afford it. That doesn't take a genius to see. So again, what is the big problem of simply adjusting my interest rate? Citimortgage is unwilling to help their customers and they are eating a huge profit right now. Please do not ever use this company to finance your home. They are bad news.