Replies to This Discussion

Permalink Reply by Sally K. & David L. Hanson on March 7, 2010 at 2:32am

We have had outstanding response...closed one last week less than 30 days after submitting the package...they are ON it and a pleasure to work with...good luck !

Permalink Reply by Kathryn Acciari on March 7, 2010 at 3:14am

That is wonderfully optimistic news. Thank you!

Sally K. & David L. Hanson said:

We have had outstanding response...closed one last week less than 30 days after submitting the package...they are ON it and a pleasure to work with...good luck !

Permalink Reply by Sally K. & David L. Hanson on March 7, 2010 at 4:59am

Maybe it was the margaritas we promised when we go to the CDPE conference....try that....we'll buy em for you if you aren't going :)

Permalink Reply by Christy Cole on March 7, 2010 at 5:27pm

Citi is awesome-the easiest and quickest deals I have listed and sold as short sales are with Citi. Your homeowner can go online to their website and do a financial sheet also along with the package you have already submitted. My homeowner that did complete an on-line form had a 1st and 2nd with citi, was not a primary residence, and within 1 week of submitting package, we had an approval letter, closed 2 weeks later. My other Seller-we were able to put his financial package on file before listing the home, and they actually reviewed it (this one was last summer), so when we submitted contract package with updated docs, immediately a BPO was ordered and submitted in less than 5 business days. I have found they seem to have a similar staffing system set up on the short sale side as when borrower's appy for a loan, so that you know immediately what is missing and BPO is ordered (processor), and then all of that is shuttled quickly to a negotiator/(underwriter). In both scenarios I had, all of the staff I dealt with was very professional and empathetic and actually return messages! Anyways-they have been great. A side note-the only glitch on both was at closing-the citi negotiators would not communicate directly with closing attorney's office because not an authorized party, which is difficult when the attorney's office is sending docs and funds to seller's lender and needs proof of receipt to meet a deadline (and for some reason you are not at the closing). So may want to consider asking negotiator if the seller needs to give authorization to the closing attorney's office.

Permalink Reply by carol diaz on September 21, 2010 at 6:22am

Kathryn, you wrote back on March 2010. How is your experience with Citi? Are you still working that deal? I have not been that lucky, they sold the loan to ARCH BAY Holdings that pretty much nobody knows!