The Worst

Involved with a potential CITI shortsale (FHA) since offer submission on February 10th.  Pulled teeth the whole way through with new BS every week.  Finally got a negotiator assigned, one who loved autoresponder messages and took more vacations that the first family.  Eventually got to the secure email server and communication improved (slightly).  Last from them was an announcement dated 7/13 with HUD ATP approval, and the strong opinion expressed that as soon as we got that back to them we could expect final SS approval.  Got it to them Monday 7/16 - inquired 7/17, nothing - inquired 7/18, nothing.  Got a call form a property management firm this afternoon who was at the property to secure and re-key because the lender had foreclosed 7/16 (that's a whole other topic - their process did not conform to NH law) - BUT NEVER A WORD FROM CITI.  Poor process, poor communication, poor result.  They were happy to pocket the TARP money though...just sayin'.

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  • Is your client still living in the property?  The foreclosing attorney in NH must give them written notification of a foreclosure action which has to be certified mail.  It's also published in the local paper for 3 weeks before auction.  Whole process is quick, but it's hard to believe in 7 weeks time the homeowner had no idea they were being foreclosed upon. 

    That completely SUCKS though.  Citi is normally good IMO, but FHA is a whole other animal.  I'm sorry you went through all this.

    • Thanks Smitty - Client's out of the property (job relocation).  I'm aware of the NH foreclosure procedures, and to the best of my knowledge, they were not followed in this case - that's why I left that open as a whole other toipic. 

      Correspondance w/CITI's negotiator later today indicates they are trying to have the foreclosure rescinded, so we may still pull this together - four months later than it could have/should have been accomplished.  Time will tell.  Postings all over the web go both ways with CITI...they're not on my future dance card.  Glad you appear to have had better experiences.

      • Greg, keep me posted.  I've heard all about the "rescinded" sales, but I've never personally experienced one.  I'd like to know if they will do that.  If they didn't follow NH law, then I bet you can seriously get it considered.

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