• Report: #444174

Complaint Review: CitiMortgage

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  • Submitted: Thu, April 16, 2009
  • Updated: Sat, July 25, 2009

  • Reported By:Highlands Ranch Colorado
CitiMortgage
1000 Technology Drive, O'Fallon, Missouri U.S.A.

Citimortgage is not complying with the bailout, no help at all for homeowners-Foreign H1B visa Holders taking care of Housing problems O'Fallon Missouri

*Author of original report: Bail Out Money is to help lenders not to go to bankrupcy! and help homeowners

*Consumer Comment: Bailout

*Consumer Comment: CitiMortgage plays hardball!

*UPDATE EX-employee responds: The bailout is to keep in their homes, it has nothing to do with short sales.

*UPDATE EX-employee responds: The bailout is to keep in their homes, it has nothing to do with short sales.

*UPDATE EX-employee responds: The bailout is to keep in their homes, it has nothing to do with short sales.

*UPDATE EX-employee responds: The bailout is to keep in their homes, it has nothing to do with short sales.

*Consumer Comment: Clarification...

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We requested help from Citimortgage to complete a Short Sale of our clients property located in Denver Colorado. Everything was complete, the short sale package included all documents requested by Citimortgage to complete de package and approve the short sale of our clients property. We got in contact with Mr. Ruben Pea and his boss Philip Brewer working as manager in Citimortgage and we requested the short sale approval.

After a month Mr. Ruben Pea called me stating that Citimortgage wanted Our client to pay $20,000 thousand dollars to Citimortgage to release their lien that is the second lien, since the first lien holder, another respectable financial institution accepted the short sale and gave us the letter of authorization.

Now our client is going to FORECLOSURE due to CITIMORTGAGE since they dont want to help at all. Citimortgage is the worst bank to deal with pre foreclosure sales, dont help, the phone almost always disconects without answering its really bad.

Ruben Pena from Citimortgage can be reached at 866 520 5499 ext 73134, this is the Venezuelan H1B visa employee who is taking care of this issues at Citimortgage and his boss Philip Brewer's phone number is 816 505 6713 who probably changed his phone number since he doesnt want to be disturbed all with bailout money.

David ****
Highlands Ranch, Colorado
U.S.A.

This report was posted on Ripoff Report on 04/16/2009 02:46 PM and is a permanent record located here: http://www.ripoffreport.com/r/CitiMortgage/OFallon-Missouri-63368/Citimortgage-is-not-complying-with-the-bailout-no-help-at-all-for-homeowners-Foreign-H1B-444174. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 8Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

Bail Out Money is to help lenders not to go to bankrupcy! and help homeowners

AUTHOR: David landman - (U.S.A.)

Citimortgage being one of the worst lenders to deal with with short sales, that is a way of helping responsible homeowners avoid foreclosure, got one of the biggest chunk of money from this " bailout" for the rich and famous, in order to "Help" homeowners not to lose their homes, or at the least, not to lose their credit inot bankrupcy. What Citimortgage has to do is approve all short sales requested, and help a good client going thru hardship to avoid foreclosure and public sale. Is not true that bailout money is just for refy's or keep homes with high interest rate, balloon refys or sort of thing invented by some lenders to keep sucking blood from the people. Citimortgage with their recovery department are only getting all clients to foreclosure without helping at all, and are paid with Bailout money, since that ( their wages) is the most used cause for this bailout money that came out of our pockets.
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#2 Consumer Comment

Bailout

AUTHOR: Ashley - (U.S.A.)

The bailout to help you refinance yuor home and remain in it.

Not to short sale the house. The legislation does not cover short selling your house.

Reread it.
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#3 Consumer Comment

CitiMortgage plays hardball!

AUTHOR: Dissy - (U.S.A.)

Yes - Citmortgage is not helpful if they are in 2nd position. They are very aggressive and they don't care. We recently had an approval on the a short sale on the first position who was ING and the first agreed to pay $3000 to 2nd to release the borrower and lien so we could complete the short sale. The clients I represented are going through a divorce and loss of job with true hardships. We worked months on these but Citi would not budge they would only release it for $12,000. The first would not allow this payoff and we went back and forth with Citi. The ING negotiator also contacted Citimortgage with an attempt to work something out with them to take $9k and again Citimortgage would NOT budge. They told us to go ahead and foreclose and the let the property go. We did let them know that our clients did seek legal advise and would file BK should Citi go after them for the deficiency. Furthermore once ING foreclose they would be wiped out and receive NOTHING. They told us they would rather take the write off than releasing the lien to complete the Short Sale. This is ridiculous! We had a ready and willing buyer and now it will be an REO that will sell for a lot less. The ING negotiator tried to hold off the foreclosure, but we just found out today that he could no longer hold off the sale. We lost the property due to Citi being JERKS!!!! There is no logical reasoning they will lose more money. Someone at Citi needs to do something about this! They themselves are in financial hardship asking for government handouts; why can't they help the consumers if there are legitimate hardships????/
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#4 UPDATE EX-employee responds

The bailout is to keep in their homes, it has nothing to do with short sales.

AUTHOR: Clomc - (U.S.A.)

The bailout is to keep in their homes, it has nothing to do with short sales.

Was that second mortgage part of the purchase of the home, or was it an equity out loan. If it was a equity out loan, then maybe the borrower should not have used his/her home as an ATM machine.
Equity out loans will not be forgiven, purchase money seconds can be. But it is up to the investor.
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#5 UPDATE EX-employee responds

The bailout is to keep in their homes, it has nothing to do with short sales.

AUTHOR: Clomc - (U.S.A.)

The bailout is to keep in their homes, it has nothing to do with short sales.

Was that second mortgage part of the purchase of the home, or was it an equity out loan. If it was a equity out loan, then maybe the borrower should not have used his/her home as an ATM machine.
Equity out loans will not be forgiven, purchase money seconds can be. But it is up to the investor.
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#6 UPDATE EX-employee responds

The bailout is to keep in their homes, it has nothing to do with short sales.

AUTHOR: Clomc - (U.S.A.)

The bailout is to keep in their homes, it has nothing to do with short sales.

Was that second mortgage part of the purchase of the home, or was it an equity out loan. If it was a equity out loan, then maybe the borrower should not have used his/her home as an ATM machine.
Equity out loans will not be forgiven, purchase money seconds can be. But it is up to the investor.
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#7 UPDATE EX-employee responds

The bailout is to keep in their homes, it has nothing to do with short sales.

AUTHOR: Clomc - (U.S.A.)

The bailout is to keep in their homes, it has nothing to do with short sales.

Was that second mortgage part of the purchase of the home, or was it an equity out loan. If it was a equity out loan, then maybe the borrower should not have used his/her home as an ATM machine.
Equity out loans will not be forgiven, purchase money seconds can be. But it is up to the investor.
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#8 Consumer Comment

Clarification...

AUTHOR: Robert - (U.S.A.)

Would this 20K be the only amount Citi would have received or were they going to get some money from the short sale amount? If so how much were they going to get and what is the balance of the 2nd lien.

It also seems you have more issues because an employee's VISA status does not matter. In fact, I give them credit for hiring employees that are actually legally allowed to work in the US.
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