Hilary D.
How to Handle Cenlar CBank loans
Step 1: Establish a checking account with your primary lender. A $1 balance should be enough to avoid "fees" and keep it active. My CBank HELOC was transferred about (2) years ago to Cenlar. Step 2: Each month, I go to a CBank branch nearby and make a cash deposit into my checking account on the day of the issue date on my statement. Cbnk has my HELOC loan still "on the books" there. I had (20) years to pay it off in 2017. Plus, I got the prime rate for the life of the loan. Cenlar only SERVICES my account. When I get home, I move the new cash to the HELOC debit! If you do not have a checking account at Citi, see if the Citi website has your loan accessable on there. Establish a checking account there. Check what their minimum balance is. Put that in and leave it there. You can then move cash to that CBank checking account. Each month, you can simply then move money right from that website to Cenlar. Again, they are only servicing my account. So, by keeping $1 constantly on deposit at CBank, I have pretty much full control of any Cenlar shananigans!