Whistleblower: Bank forecloses even though experts say homeowner made all payments

  • Article by: RANDY FURST , Star Tribune
  • Updated: December 30, 2011 - 11:08 AM

CitiMortgage claims she missed a single payment, but original lender and others disagree. Auction is set for Dec. 2.

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tufi001Nov. 13, 1112:07 AM

I'm going to cancel my Citicard. This is outrageous. Hope others will follow suit.

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woldieNov. 13, 1112:18 AM

Anyone having numbers for citibank? sure would love to send them a few comments or calls...what a joke

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mcjoe1Nov. 13, 1112:27 AM

If Citi follows through with this, they should set loose the scavengers to steal all the metal out of the house. Then Citi will be left with a dud of a house all over some 500 dollar payment and exorbitant late fees that are only credible in their make believe world. The big banks seem to be shooting themselves in the feet these days.

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devonmacNov. 13, 1112:56 AM

Oh, but the Tea Party wants less government! This is a prime example of a company in badly need of some "GOVERNment"!

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mnmaggiemnNov. 13, 11 1:25 AM

Insane that you can get foreclosed for missing one payment to begin with, and on top if it proof that she never missed a payment? I think she needs to lawyer up. Until Americans quit letting these companies walk all over us, it will continue!

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a1596sdNov. 13, 11 1:27 AM

And we wonder why we hate banks. This is a total crock. I have had similar issues with my lender and it has been a huge headache.

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alex175426Nov. 13, 11 1:41 AM

Corrupt #@%&*(*$#@$!@, they are the one's that need to be investigated.

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mrmiklNov. 13, 11 2:01 AM

Citibank is probably nearing siezure of its assets by the FDIC, which is what National City Bank had been through, they closed all their branches in Mpls, in 2006. And then the back was sold to PNC bank and National City bank is no longer in business. If they own this womans house, they have 'assets' to overcome the liabilities due to lawsuits over the Mortgage based securities. I would give even money if a lot of people are wondering why a simple problem keeps compounding to foreclosure and the bank wants to foreclose despite all proof. First, the homeowner should now take Citi to court for breaking the contract in bad faith. Second, they should get records in discovery period to ask if the bank is really solvent and if Citi is using the process to try to remain solvent. Third, Officials should ask the FDIC or OCC if Citi is about to be sold or if its about to be broken up for liabilities that are greater than their assets. its all about the money folks

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mrobespierreNov. 13, 11 3:19 AM

CitiMortgage is just one of many big lenders that simply cannot adequately service their mortgage pools. The problem is that these lenders are so large and automated that once a quirk occurs, there is nobody at the bank with any authority that can correct the problem. No lender wants to foreclose an otherwise current mortgage over a missed $544.00 payment. It costs a lender many many times that amount to foreclose and then recapture and resell a property. Especially in this market. Like one commentator said in the article this debacle does show how defunct and broken our mortgge system has become.

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Mippy1Nov. 13, 11 3:45 AM

There are many stories like this one. The moral is, if your mortgage bank hits you with a late fee, pay it. Don't argue, don't stand on principle, just pay it. It doesn't matter who is right or how much evidence you have: They don't care because they don't have to. They WILL take your house if you give them the slightest opening to do so.

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