Anyone wondering who's getting refinanced through Obama's 'Making Homes Affordable Program?' Well, it sure 'ain't me, or you, or just about anyone applying. Why? Because all these much hyped federal programs are VOLUNTARY! What the hell! We are giving trillions to the banks so they can do what exactly? Nothing, apparently. Obama's programs 'Making Home Affordable and Hope For Homeowners' are a big joke. The banks are making a killing on application fees, only to tell the unsuspecting homeowner 'Sorry, we can't help you. And, by the way, that 500.00 application fee is nonrefundable.' Here's how Americans are being scammed: 1) Even if you've met all the requirements of these programs, you will not get any real relief (modification) or qualify for refinancing. A realtor friend of mine whose home value is in the crapper and lost 50% of her income, was rewarded by Citimortgage with a decrease in her monthly payment by 11.00. Gee, thanks Citimortgage for your generosity. Those 11 dollars will really make a big difference in my life. Want to refinance? Guess again. If you are one of the millions who has private mortgage insurance, kiss any chance of a re-fi bye, bye. The banks are refusing to refinance anyone with PMI, knowing full well most people who need these programs, have PMI. It matters not a twit if your FICO scores are in the stratosphere, you will still be summarily be turned down if you have PMI. 2) Poor Fannie Mae and Freddie Mac! They lose billions on stupid investments, cry to the feds for help, get bailed out and then are put in charge of operating programs they know nothing about. It's enough to make a person want to commit suicide. Whoops! Sorry, Freddie Mac. These two entities can't distinguish a doorknob from an apple. Call them and complain about how their much vaunted programs are NOT working and they will tell you 'gee, we had no idea the banks were doing that.' Sheesh. As Sigourney Weaver opined in the movie 'Aliens'- IQs appear to have dropped dramatically since I left.' I wonder if this is willful ignorance. Willful or not, Mac and Mae are worthless to the homeowner. 3) Bargain basement appraisals. Ok, forget PMI for a moment. The other part of the scam is what I call 'Low-balling for dollars.' The one place where you should be able to get refinanced is with the bank that currently services your mortgage. They are the only place where having private mortgage insurance doesn't count against you. (the banks act like we elect to have PMI. They seem to forget, you are forced into taking it if you don't have 20% to put down). Ah, but you can bet your sweet little bippy, they know they are in the drivers seat on this one and they're not about to refinance a good paying customer at 4.50% when they can get 7%. So, how do they weasel out of 'making your home affordable?' They hire slash and burn appraisers -- typically inexperienced, cheap folks who come from outside the geographic area of your home. And right on cue, they appraise your home at values so low, you would have to believe you've been living on the street under a cardboard box for the last 2 years instead of in an immaculate 4 bedroom home in Ann Arbor (home of the Maize and Blue). Make a big fuss and the bank will tell you it's those dastardly foreclosures that caused it. (The foreclosure thing--it's almost a mantra with banks. They seem to forget that they are the ones responsible for this mess to begin with). So, it's all about comparables, right? If you are unlucky enough to live in a neighborhood were there have been foreclosures (and who doesn't?) your house is worth the same as a double-wide trailer parked next to the airport. So, if it's all about comps, then why make me pay 340.00 for an appraiser to step foot inside my house ? Any one, including the banks, can get comps off the internet for free. If you vociferously question the original appraisal, the banks will often order what they call a 'field review.' It's their way of appearing 'fair and balanced.' Don't be fooled, however. A 'field review' involves nothing more than some appraiser driving by your house and looking at the exterior. Then miraculously, through some strange inner appraiser gestalt thing, they are somehow able to tell the banks if the original appraisal was accurate. If you think this procedure may help you, then let me suggest several hospitals where you can admit yourself for treatment of your madness. The bottom line is this: the banks make big money on their application fees which you must pay upfront before they will lift a finger, and the appraisers make big bucks giving the banks what they want--super low values outside of the Making Homes Affordable guidelines. The banks continue charging their good customers higher interest rates, while they steal taxpayer money at less than 1% interest. It's a great deal ---for the banks. I urge all those who despite having met all the requirements for 'Making Homes Affordable' were still turned down to call Fannie Mae and Freddie Mac. Call, write, e-mail your congress people. Contact Obama. This is HIS program. He said the buck stops with him, so hold him to it. No more volunteer programs for the banks. We own huge chunks of them, now. Geitner must make them lend or shut them down. Enough of this rip-off.

I have been calling your credit centre and have visited your usj service centre on numerous occasions, promises to call back was never made and I am getting sick and tired with your service quality. I fully settled my restructure even before its due date of 1 year, and I want my release letter and your organization seems to be not interested in servicing ex Citibank customers.

Listen to the call I made to your customer service handled by Yu Jin today at 10:55am, he was obnoxious and directed me to call your credit collection centre only after 4pm and CiTiBank CS no longer handles ex customers. What a crap and arrogance, this is my 2nd mail to you which I believe will only be entertained after 48hrs with a standard reply.

My number is XXXXXXXXXXXXX – Even a layman will know how to address my issues with a cost efficient manner and I am puzzled that your entire work force is governed by ridiculous process and unfriendly CS personnel manning customer issues. Is this what your brand stands out for, how will I be compensated for doing your work by reminding and follow up and waste in my time. I also over paid and expect to see what nightmare I have to go through to get my access monies refunded.

The payment made on May 13 of $100 was not entered on a USPS bill I received in the mail after a lengthy conversation via your 800 number with two individuals because the bank transfer for the payment failed to be registered and so I paid $100 per debit card over the phone on May 12 - this was logged from my Wells Fargo account on May 13th - I was told over the phone that statements to follow would be by USPS instead of bank withdrawal and the account would be credited for $100 and the late fee of $25.oo would be removed. The bill I received did not record the $100 payment and the late fee was still on the bill. I've written to your So. Dakota address with the above details and have received no response as of May 4. 2011 - this is messing up my personal accounts and is unacceptable. I've received no corrected statement and there is another payment due soon - PLEASE DO SOMETHING before my credit rating is compromised - I'm 77 y.o. and this is a BIG PAIN IN THE BUTT!! Phyllis D. Davis

I applied for a secure card in Citibank and deposited 1800$.After couple of weeks I received a letter which indicates my application has been declined.I waited 2weeks for my own money check, which did not happened.Called an asked about my check, was told its in the mail.After 3 weeks I called again and asked my check. I was told its lost in the mailing system. I called an talked to Mrs, Baker ( supervisor)requested an overnight check. She said .it will be sent in 2 days.After 7 business days the check is still not here. Called and spoke to Mrs.( Eichelberger) another supervisor.She said it already sent by UPS, when I asked tracking number, she could not provide it, because it belongs to the secure card dep.I was told there is no tracking number, I have to call UPS give my name and address and ask the check .UPS is not giving any info without the tracking number.
CITIBANK OR MOM AND POP SHOP???????
Be careful if you have an account in Citibank..

I deposit $3000 cash on april 22 through atm, which is very stupid on my part. on may 2 they sent me a letter saying there was only $2000 in the deposit envelope. i caledl and went to their branch asked for investigation and so far all i got was there was no mistake on their end but haven't provided me any proof. i counted the money many times before i deposited the cash, i have no doubt it was the correct amount. i would never deposit money using a atm again but after all, isn't it trust what makes a bank.