I am dealing with a local branch of Citi Financial who hold the 2nd on this short sale. We have gone through the whole process with both lenders are now awaiting the approval letters. The local branch manager keeps telling me that they will now only issue a 15 day approval letter, despite the fact I keep telling her that we will need a 30 day letter as the buyer is financed and will need to process their loan, and this is after the first mortgager has processed their own approval letter, both of these actions will take more than 15 days. To make matters worse we have already missed 2 closings because of that very issue. We have been in this loop for months , the branch manager also insists on charging $150 for each letter (which is strange, but not a show stopper) we are now on letter number 3, and the first mortgager (Wells Fargo) is threatening to close the file as we have been working on this since last December, this manager is a nightmare.
I need to get to someone in the Citi Financial home office who understands that a letter of 15 days duration for a financed buyer when you are the 2nd lien will not work. HELP.
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BJ maybe you got this resolved already but go to Citi's executive resolution dept in O'Fallon, Mo asap. Contact the short sale dept at their 800 number here for Citi contacts and ask for the executive resolutions dept! Tell them what he local branch is doing over and over again. Get a case# assigned asap. Give them the info of this continuous going nowhere loop... and they will fix this. Seems someone at the local branch is getting a kick or kick back on the continuing $150 fee... hope this helps Shy
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