- Report: #46646
Complaint Review: Citifinancial - Mankato Minnesota
-
Author Not Confirmed
Why?
Citifinancial
1650 Madison Ave Mankato, 56001 Minnesota, U.S.A.
Phone:
507-344-0816
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Citifinancial added $2000 in insurance to my loan and never told me at signing Mankato Minnesota
watch out for added insurance when you sign your loan papers.
they did it to me and although they refunded the money. They won't readjust the payment to a lower one that it would have been if they only financed the $9000 I had asked for instead of the $11000 they came up with including there insurance.
Mike
mankato, Minnesota
U.S.A.
they did it to me and although they refunded the money. They won't readjust the payment to a lower one that it would have been if they only financed the $9000 I had asked for instead of the $11000 they came up with including there insurance.
Mike
mankato, Minnesota
U.S.A.
1 Updates & Rebuttals
Anon
Miami,Florida,
U.S.A.
Common Predatory Lending tactic
#2Consumer Suggestion
Mon, February 24, 2003
Hi-- adding insurance at the 11th hour is a very common predatory lending tactic. It is almost pure profit for the lending institution. Did you examine your HUD-1 statement the day before closing? If so, this "charge" should have been disclosed at that time on the settlement form. This lender recently had a huge settlement with HUD for predatory tactics. Please investigate your rights by researching the internet under "predatory lending" "Truth in Lending" and look at the HUD website for more info. www.hud.gov. Please file a complaint with their regulating agencies. Because they just had the huge fine, the regulators are probably watching them more closely. Good luck!
