Citi Charged off to LTD Financial Services, They are not willing to even speak to me
I'm taking over a file, Citi is the second, BOA is the first and they are working on it i got an appraisal last week, the agent that was handling the file before dropped it because LTD told her that they are not willing to negotiate and it was a waste of time and advised her to let it go to foreclosure.
I called LTD and got the person that is handling the file and she advised me the same and told me that she won't even speak to me, she did not allowed me to send them an autorizathion to sepak with me, she asked me to ask the borrower that this was not going to happen and ended the conversation.
I have been trying to get a Manager fro LTD to get this done with no success, I emailed the complains email and they gave me an email from a Manager thatnever replied and when I call and ask to speak with a Manage I get tranferred to the same lady that won't help me.
I just called Citi and they told me that they can't pul the file back unless the borrower made payment to get the account current.
Any Advise?
Replies to This Discussion
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Permalink Reply by Brian Garff on
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After 180 days Citi sends their files to a variety of collection agencies/attorneys. I've closed one with a local attorney, but the client had to re-affirm the remaining debt. I have another one going now where the collection company, Solace Financial, is happy to look at an offer to settle.
It sounds like, in your situation, LTC has assumed full control. In other words, they bought the debt for pennies on the dollar, and they are going to come after the homeowner for the full balance (as is their right). They obviously don't believe short sales are worth the manpower it would take to process the deals.
Cut bait and spend your time and energy on something that is going to close.
Brian -
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Permalink Reply by John Slocum on
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Hello Roger,
I recently had one close where Citi was the second, and they had sent the account to an outside collection agency. The outside firm told me that Citi would release the lien to allow the short-sale to proceed, yet still pursue recovery from my client. My client agreed, and we were able to get the release on the lien and close the short-sale.
John
PS - for some reason the outside firm also asked if the loan was federally backed. If it was, they'd agree to a 6% top real estate agent commission; otherwise they'd only agree to a 5% -- even though they were the second lien and not willing to negotiate any reduction in amount owed! -
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Permalink Reply by Ben Benita on
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DEFINITELY file a comlaint with these guys (call first and go over your situation -- Office Of THe COmptroller of the currency
Phone - 800-613-6743.
(They are over the FTC and actually regulate banking BS like you are going through). We had a similar situation with a foreclosure here in Virginia. ONE complaint to the OCC and the foreclosure Trustee, Samuel White, IS ACTUALLY NEGOTIAITNG THE SHORT SALE NOW ON OUR BEHALF!!!! Talk about getting results.
OCC web site - Http://www.occ.treas.gov/ - - best place to file complaints,
E-mail for OCC -- [email protected]
To file a complaint with them - www.helpwithmybank.gov, start here, online customer complaint form,
By e-mail (use this for ANY correspondence with the lender via “cc”) [email protected]
I would also contact the attorney general for the state in which the property is located. LTD is just another ding dong collection company...going to be a tough battle for you.
I would also go up the food chain at CITI to try to get a GOOD contact at LTD -
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