Todd sent a message to Saun Bruce W Van – Chief Executive Officer, Citizens Bank RBS Citizens – Email Address that said:
Hi Bruce
I do hope you are well and sorry for this intrusion, though you have know idea how mad I am at your company right over something that should be be easily resolved. Only if I could personally speak to someone who has the authority to make decision.
I have been having an issue with your team for numerous months and no one that I speak to has any authority to do anything and the ones that appear to have authority based on their titles, do not accept any calls, like Melanie. How can you be in a position that makes decisions on your customers without having any accountability. This is truly mind-boggling.
As you can imagine, I am starting to get sideways with Citizens. This is mainly caused by your tax department. They insist on calculating my escrow payment based on the 19 month tax bill from this year - 2016. I would think based on your portfolio of new construction loans, Citizens should have the knowledge/expertise on taxes for newly constructed homes and know how to decipher a first year tax bill from a newly constructed home! It should be common knowledge that a newly constructed homeowner has a one year period after closing on a new construction home where you don't have to pay taxes though the County then will go back and collect and charge you for the subsequent tax year. You then would receive a tax bill for the entire period you lived at the property (not an annual term).
So far, I can not get anyone to understand nor speak to anyone with the authority to resolve this issue. I informed Citizens that I am not going to pay the escrow amounts they are calculating which are based on the 19 month tax obligation bill in 2016. I have informed Citizens over and over again as well as provided them with documentation on what my 2017 Tax Liability amount will be, of course subject to any rate changes on 2017 and it should be $20,558.88. My annual insurance bill is $1,954.96. Total amount in escrow would be $21,855.84. or $1,821.32 per month.
I have informed Citizens that I will pay the following:
$1,090.45 Principle
$2,312.08 Interest
$1,821.32 Escrow
$5,223.88 Total Amount
I have been actually paying $5,300.00 every month.
Today, I received a call saying I owe Citizens around $8,000 and if I don't pay before month end, they will return my money, they don't accept partial payment and they will. Amazing!! I informed them, that if that is the case, they are welcome to foreclose on my home and I will be seeking retribution for the damages that Citizen Bank has caused against me.
In addition, they mentioned they must maintain two months of additional escrow. This was never disclosed nor do I remember every signing any documents provided by Citizens. From my perspective, I they didn't disclose during closing or with all of the paperwork, that is their wrongdoing and I am not responsible for their negligent act. If this was disclosed, why wasn't the two months of required escrow not computed and collected at the time of closing?
That being said, if Citizen's Tax Department can calculate the correct 2017 Tax obligation, which should be the same as I did above as well as the attached, I would send a check for the two additional months of escrow or $3,642.65 once I receive confirmation in writing from Citizen Bank, just to resolve this and lower my blood pressure.
Lastly, I also understand there may be a more easier approach to resolving this issue, well at least mine,, by waiving my escrow requirements for taxes and insurance and then charge me a .25% rate for this. After analyzing this situation, this would be the best cost effective solution for us both.
I look forward to your response!
Sincerely,
Todd
