Complaint Review: Citimortgage

I have had my loan with Citimortgage for approximately three years since the mortgage was purchased from Principal mortgage. My loss occurred on 2/22/07 as a tree fell during a windstorm and destroyed a brick outbuilding in a heavily wooded part of my property. My insurance company is State Farm and they quickly assessed the situation and gave me a fair settlement for my loss which amounted to $27,000. Of course, this amount is over $7,500 and the check which was issued by State Farm was paid to the order of Citimortgage and myself. I did my part and sent the check for the entire amount endorsed payable to Citimortgage. Enclosed with the check was an appraisal for my property, pictures of the location of the loss, and a written explanation where the loss occurred.

They sent the first draft quickly and efficiently for the first 1/3 or 9,000. Now, since that first draft I am at a standstill and I can nowhere with them and talk to no one of authority or get anyone to call me back concerning the remaining 2/3's. I have stated to them that I am not rebuilding that brick building in the wooded part of my property because there are many other trees which could do similar damage and I would like the remaining 2/3's sent to me.

This raised a lot of controversy and they told me I had to rebuild it. My mortgage record is perfect and I have never had a late payment. The equity in my property is over $230,000. With an appraisal included it seems that there interests are covered and they have no right to keep the remaining 2/3's. I told them to send out an adjuster and view the prior location of the outbuilding and they said nothing.

After about 10 more phone calls and 2 more reviews of my record came another decision. They said they could take the remaining 2/3's off the principal of my mortgage or $18,000. I feel as if they are stealing when Citimortgage offered this to me. They are actually trying to profit after my loss and my cash settlement? Where do I stand with Citimortgage because it seems that if I took them to court they would surely lose in this situation. Thanks for any feedback and I eagerly await your comments and suggestions.

Stephen
Mechanicsville, Virginia
U.S.A.