How are Citi bank and greentree to deal with?
I have potential listing of a short involving double mortgage with the two above properties.
before i take it, how are these 2 companies to work with.
It is quite a high end listing. debt of $1,200,000 likely sale price of 700k.
hardship is job loss, but found a new one, lower salary.
any thoughts, appreciate your help. Guy
before i take it, how are these 2 companies to work with.
It is quite a high end listing. debt of $1,200,000 likely sale price of 700k.
hardship is job loss, but found a new one, lower salary.
any thoughts, appreciate your help. Guy
Replies to This Discussion
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Permalink Reply by Wendy Rulnick on
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Treat it like a regular short sale. High losses can be approved, but the lenders may be even more prudent reviewing financials. Citi is fine, I have not worked with Green Tree....
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Permalink Reply by Bryant Tutas on
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I have Greentree on a 2nd right now and there are pretty agreeable and thus far easy to work with. The first is with GMAC who is also proving to be good to work with.
I think Greentree will ask for 5% of the purchase price which could be an issue. I would ask them early on so you can be prepared. -
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Permalink Reply by John Slocum on
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Hello Guy, I've got a listing with Citi as the second, and for two months they've had me send info to the wrong black hole. The "correct" phone numbers I was given yesterday are 866-520-5499 (voice) and 866-704-8050 for fax, and the guy at this department said that Citi Loss Mitigation automatic routing system does not always send us to the right place -- Great#@! Thus, be careful to get the right folks at CIti. John
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