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I mailed my December payment and never thought about it again. I received a letter from Citimortgage at the end of December that my payment was late. So I immediately put a stop payment on the first check and overnight another one to their mail payment processing center (this was a different address than the one where I am supposed to send payments).
I check my bank account this morning and they have cashed that second check. However, my mortgage has not been credited with the payment. I contacted them and they gave a fax number to mail a copy of the cancelled check or bank statement to. Problem, my account says the payment was withdrawn as an electronic check, so there is no copy. All there is is my bank statement saying citimortgage withdrew from my account.
I bank with Citibank, so I am confused as to how my account could have the money taken, but not credited to the mortgage.
Please give me advice on what to do? I have paid my mortgage on time since getting this one ( citimortgage bought this mortgage from my initial company this summer) , but now I fear all the horror stories I have read about Citimortgage.
Can you mail or fax them a screenshot of your statement? Can you expand it to show more details? Is there a way for you to pay online so this doesn't happen again?
I would call and explain the situation and see if you can fax any information they need. If you get a not-so-nice rep I would keep calling until I get a better one.
I just received this email from Citimortgage (I emailed them several times today regarding this missing payment)
Thank you for selecting the Internet as your means of
communicating with CitiMortgage, Inc. Our response to your
Payment inquiry is below.
Due to technical issues, we are unable to apply the
payments received from customers. We are working to get
this resolved on priority and request you to allow time for
the postings to occur. We apologize for any inconvenience
caused.
For your convenience, information about your payment
options is available online under the View Payment Options
link after you sign on to your account at
www.citimortgage.com.
I hope this means my account will reflect the payment quickly
When I hear horror stories about servicing lenders.... it almost always comes with a "convoluted story".
If you pay your bills on time and communicate with them, they will be reasonable.
Try not to stress.
@Watchmann wrote:
In the age of the internet there is no reason you shouldn't be signed up for automatic payment. I've paid monthly life insurance payments for over 30 years with half a dozen companies and have never had a problem. Ditto with car loans. My current 15 year mortgage started out with ABN AMRO, which was sold to Citimortgage in Sept. 2007. All of the history was perfectly transferred to Citmortgage and the payment schedule continued on as normal. No problem whatsoever. The payment comes out of my account on the first of the month, like clockwork. Any long term payment loan should be set up automatically, that takes the onus of you having to remember to pay the bill. The goal is to simplify your life, not complicate it.Message Edited by Watchmann on 01-03-2009 03:49 PM
while this can be a good solution, not everyone is comfortable with automatic payment withdrawals.