In XXXX of XXXX we applied for a hardship loan from Citimortgage due to XXXX loss of a job and a decrease of the home value due to the recession. The loan was declined since we were not in default or imminent danger of default. We continued to pay the mortgage out of our retirement savings. From XXXX XXXX through XXXX XXXX the loan was being processed by Citi. Every week we called them for an update on the status, they continually asked us for additional paperwork, most of it duplicates from the original loan request. Over this period of time we were unable to pay on the loan thinking this would be processed in a timely manner and our interest rate would be reduced ( It was over 5 % ). Citi assured us every week that the loan was in final review. On XXXX XXXX, XXXX we received a phone call from Citi stating our loan was NOT approved, due to " Quality Control. '' We requested a written notification multiple times but never received anything from Citi. On XXXX XXXX, they sent us a payoff balance and a foreclosure date within 15 days. We had to borrow the money to avoid foreclosure. Of course our credit has been seriously damaged even though the arrears were paid and the home was eventually sold in XXXX XXXX. Because of lack of transparency and the misrepresentation of Citi we suffer financial losses and our credit is damaged. 
