• Report: #996551

Complaint Review: CitiMortgage

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  • Submitted: Mon, January 14, 2013
  • Updated: Mon, January 14, 2013

  • Reported By: aydiaman — Baxter Minnesota Virgin Islands (US)
CitiMortgage
P.O. Box 689196 Des Moines, Iowa United States of America

CitiMortgage Wrongfully filed a 1099A tax form Des Moines, Iowa

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My home went through foreclosure in 2011.  I had 1 year to redeem the property which I did.  CitiMortgage issued a Tax form 1099A which I am responsible for filing taxes on.  I have spent 4 hours and talked with 9 different individuals from CitiMortgage in order to correct this.  First, none of these individuals have ever dealt with a home being redeemed and therfore other than trying to BS their way through the problem, could solve my dilemma.  They could not connect me with someone who could resolve this issue.  As it stands today, I have no answers and I have a call in to the Attorney's who handled the foreclosure for CitiMortgage.  What I learned from this experience is mind blowing and what the banks are doing as far as I am concerned, should be illegal.  When a home is foreclosed, the mortgage companies in 99% of all cases buy their own foreclosed properties at the foreclosure sale.  At the same time they writing off the foreclosed property as a loss.  So, they get the benefit of a tax write off and the now own the property as well.  Even if the property is upside down, the difference between what is owed and what the property is worth is less than what the mortgage Companies are charging off.  In my mind this is a criminal act and should be treated as such.

This report was posted on Ripoff Report on 01/14/2013 10:47 AM and is a permanent record located here: http://www.ripoffreport.com/r/CitiMortgage/Des-Moines-Iowa-50368/CitiMortgage-Wrongfully-filed-a-1099A-tax-form-Des-Moines-Iowa-996551. 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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