Consumer complaint received 2018-09-18
Company: CITIBANK, N.A.
State: GA
Product: Mortgage
Sub-product: FHA mortgage
Issue: Closing on a mortgage

Complaint:
Dear : This letter is file a formal complaint against CitiMortgage the servicer of my loan. I recently began the process to sell my home. I checked my statements to see what the outstanding balance was to have Idea on where to set the selling price. I eventually called into CitiMortgage to confirm the outstanding balance or payoff amount in order to sell the home to a potential buyer. The payoff amount was at the time with interest was {$110000.00} which was provided to me by a CitiMortgage associate. The associate said that they would also send a payoff amount in the form of a document as well. The payoff amount was very close to what my statement had indicated so I felt very comfortable in entering into a contract with a buyer. In which I did in good faith seeing that I checked my statement and called in to get a payoff amount. Here is where the problem begins. Upon entering in the contract for a selling price of {$130000.00} the buyer sent over the settlement statement that included an additional {$25000.00} payoff due to a modification amount which I was not made aware of via statement provided by citi monthly nor verbally from the agent at citi. This new amount would have me bringing {$12000.00} to the closing in order to finalize the sale of the home. I immediately called citi to make them aware of the error they made in giving me the wrong payoff amount and that I am in a contract with a buyer that says I have to bring {$12000.00} to close the deal. They ( citi ) were the ones who serviced the modification and prepared all documents for the modification. So it was in good faith that when I called in to get the payoff amounts that the XXXX was the entire payoff amount including the modification. Each associate I spoke to said that they did not see the modification in the notes so I had them send over another payoff amount to the buyer so that they could see that the XXXX was correct. I even had a supervisor tell me that if there was a modification amount it would have shown up with the payoff that they gave me over the phone. Unfortunately again citi gave me wrong information. The modification was separate, but citi has records of it but did not provide it at the time of my request. I then spoke to an executive group member XXXX XXXX who I told that Citi should pay the {$12000.00} since they didnt provide or direct me to the modification amount which citi was the servicer for. I reiterate that citi prepared all paperwork for the modification. She went on to tell me that the loan should have been flagged so that all associates would direct to modification payoff amount. She then sent me over to Modification group since she said they were the ones who dropped the ball back in XX/XX/2013 when they did not flag the account. I spoke to to a supervisor there and a regular associate and they both said citi was sorry for the mistake but they will not pay the modification amount off. They even said it was a mistake but would not being helping in any way. I am now stuck with an executed contract in which I have to bring {$12000.00} to the closing which I dont have due to an error on Citis part. I could possibly be sued if I dont come up with the monies at the closing that is now been extended in order to try and resolve this matter. My need at this point is to get citi to pay the {$25000.00}. I am in a good faith contract with an all cash buyer with wrong payoff information. Without this error we would have set the selling price higher in order ensure the modification would have been paid off as well. Citi failed to direct me correctly in this matter. They acknowledge the error and understood but are not willing to resolve the issue. Please help me in this matter. Also to note is that all the documents that citi sent after I enquired about the payoff indicated that their records showed an amount that also needed to be paid off. If they would have told me to wait until you receive the document or acknowledged over the phone the other amount I would not be in an executed contract with the wrong payoff amount, and I would not have to bring {$12000.00} dollars to the closing. I do not have {$12000.00} dollars, and my wife is not working which is why we are behind in the payments and need to sell the house. I have attached document to confirm all mentioned in this description. 
Sincerely, XXXX XXXX

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation