Anyone have citimortgage?

Did you recently get an Escow analysis letter? I feel like I get one every 6 months and my escrow keeps increasing.....it was just raised again another $200 a month.....that is now $400 a month more from when we closed less than 2 years ago.....i don't get....my taxes haven't gone up that much.....and when i call I get someone who I can barely understand....it is so frustrating .....At this rate I'll so be paying more to escrow than i do in principal and interest.

Re: Anyone have citimortgage?

Yes - My escrow just went up $40/month. Not nearly as bad as the last time - last time it went up $150/month. I've been meaning to look into a refi, this is a good reminder.

ETA: The last time this happened, I was told it was b/c my taxes went up. Recently I got a letter that said the value of my home went down (I'm assuming b/c of the recession) so I was expecting the next 'letter' for my 'escrow' payment to go down so this really shocked me.

Message edited 7/29/2009 7:14:38 AM.

Re: Anyone have citimortgage?

Yes and mine went up too. I'm so depressed

Re: Anyone have citimortgage?

just got the letter -- going up $55 a month

Re: Anyone have citimortgage?

yes - mine went up about 200 also. so annoying

Re: Anyone have citimortgage?

Yes! Just got it yesterday.

I am curious though......does anyone just pay it in full? Can we do that?

Otherwise, aren't the extra payments we make adding into interest. So if there is a $200 shortage for instance.......it comes to twice as much b/c of the Interest. I need to avoid that since I refuse to give them any more than I need to.

Wondering if they will readjust the mortage payment for me once I do this.

Re: Anyone have citimortgage?

My letter stated that you can pay it in full but that does no guarantee your payment will return to what it was...

Re: Anyone have citimortgage?

I always pay the shortage in full (almost $500 this time ) and my payment stays the same.

Re: Anyone have citimortgage?

Posted by My2Boys

I always pay the shortage in full (almost $500 this time ) and my payment stays the same.

Re: Anyone have citimortgage?

This is so annoying....I hope rates go down a bit so I can refinance....a few months ago when the rates were great, we were still working on our second floor renovation...now that its almost complete....they are back up again.

Re: Anyone have citimortgage?

Mine went up $200 a month last year when I got my escrow letter. My taxes didn't go up, and I had a similar experience with their customer service.

They ALWAYS give me the run-around. Once they cashed my mortgage check and didn't credit it to my account. I got 2 calls saying that I owed them- and ended up having to get a copy of the cashed check sent to them. I had to run around fixing THEIR mistake. I hate them.

But....since my taxes didn't go up, I got a refund check for over a thousand dollars along with my last escrow statement. I liked that.

Message edited 7/29/2009 12:33:14 PM.

Re: Anyone have citimortgage?

Mine went up $30/month.

Re: Anyone have citimortgage?

I dont have Citimortgage but my lender did the same thing to me constantly so I took my taxes out of escrow. they always take more than they are supposed to.

I am taking my HO insurance out of escrow as well when my refi is complete. My HO insurance should be about $140/mo. but they take almost $200 extra a mo. $60 extra a month and keep adjusting it. It is so annoying.

Re: Anyone have citimortgage?

Yes, I just looked at the letter yesterday. It went up like $30.