Consumer complaint received 03/29/2015 about Mortgage (Conventional adjustable mortgage (ARM)) with CITIBANK, N.A. (MA).
Issue: Loan modification,collection,foreclosure

Complaint: We bought XXXX XXXX XXXX XXXX XXXX XXXX Ma XXXX in XXXX XXXX. In XXXX of XXXX we had a major flood. We were not in a flood zone.Had over XXXX ft. Of water in our home and had to get taken out by boat. Town said it was a once in a lifetime event. Due to having no flood insurance ( not required, not in flood zone ) we had to drain my retirement over {$30000.00}, took out home equity line, and got loan through FEMA for {$51000.00} for repairs. We were then required to get flood insurance to receive this loan. For the next 4 years there were no problems. So we now believed this was indeed a freak thing, and we decided to expand and improve our home thinking that this was going to be our long term residence. We added a master bedroom, updated kitchen, new deck which we began work on in XXXX, XXXX and was completed in XXXX XXXX. In XXXX of XXXX we got hit with another devasting flood and 2weeks later were again hit with major flooding. Due to this hard ship we tried to remodify our loan. We were put into a trial basis in which our monthly payment was lowered and which we continuosly payed ontime.we had sent in paperwork after paperwork which had been lost or was needed again after again for a different case worker. We decided we were going to sell our home through a short sale. We had origanaly purchased the home for {$420000.00} and put down {$100000.00}. But with the new loans that we took out and with the issues of flooding we owed around XXXX to the banks.The bank set a price of {$240000.00} as the short sale price. There was an open house and there were offers from XXXX people! But the bank now decided to up the price to {$300000.00} after we got all those offers. It was then found out that our lender Citi mortgage was XXXX on the title and citizens bank was XXXX. They could not resolve this issue and we had to go back and forth to court for over a year. Due to all of this. The short sale which should of been resolved in XXXX was not resolved to almost three years later in XXXX. We had never missed any type of mortgage payment. But when we decided to to short sale the home, we were told by Citi mortgage we could not make any payments if we wanted to short sale the house so we felt we had no choice. Also when we decided to short sale we did not know how long the process would take and we were also not comfortable living in the home with our kids worrying about flooding so we rented another home In XXXX XXXX to the presence. We feel that all this time lost due to no fault of our own has prevented us from purchasing another home. We have contacted Citi Mortgage numerous times to ask them to remove the short sale from our credit reports without any response! We have never missed any type of payment except that which Citi would not take. Our credit is prefect except for the short sale.We can not find rental housing in our own community and have been commuting our daughter to school. We truly hope that you can help with this situation. 




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Company response to consumer: Closed with explanation