HELP! I need a contact at Citi re charge-off department!!!
Here's the situation: I have a seller who has a 1st mortgage w/chase, 2nd mortgage w/citi. Seller went thru Chapter 7 BK, it has been discharged. Chase approached seller about doing a short sale -- which we are in the process of doing. Chase has approved the preliminary HUD-1, paperwork then faxed to Citibank for them to sign off (we sent it where they said we should).
When we called to check on paperwork w/Citi a few days later they informed us it was faxed to the wrong department and the paperwork needed to be faxed to their recovery department which was done on January 25. As of today, February 1, Ruben in the recovery department (866-422-2883) says the paperwork still does not show up in their system but to call back again tomorrow.
Meanwhile the Chase approval for short sale runs out February 6. They said they need some assurances from Citi that they are moving forward processing this or they will cancel the approval and we will have to start again.
Question -- how flucking long does it take to move a faxed file into the "system" where recovery department reps can see it?
If anyone has any ideas/insights and/or contact names/numbers/emails of someone I can call to get this done I would GREATLY appreciate it! THANK YOU so MUCH!!
Replies to This Discussion
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Permalink Reply by Kylee Roe on
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Seems like simple short sale BS to me. Refax to both numbers, call EVERYDAY and if necc. ask for an email address of contact at Citi so you can email a pdf file of the paperwork. Don't sit around and wait for this to get done, or...to answer your question....IT WILL TAKE FOREVER.[';-]
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Permalink Reply by Coleen DeGroff on
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Hey Kylee,
Just spoke to Citi. They are swamped with docs and are running 7 days behind re looking at stuff. Awesome possum. I'll definitely be following up with regular phone calls! Thanks!
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Permalink Reply by Michael Hayley on
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I have a question: why would a seller do a short sale if the debt was discharged through bankruptcy? Why go through the trouble if they are off the hook for deficiency? Ok, credit history is one reason. Just wondering.
Getting a lender to upload docs and open a short sale file is one of the common stumbling blocks which requires frequent calls and sometimes multiple faxes. The time period Jan 25 to Feb 1, contains 2 full business days. The normal time line takes 4-days. Its too early to complain this time.
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It's never too early to complain, Michael! :)
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Permalink Reply by Deb Orth on
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Colleen, I'm having similar problem with Citi on a second. My client also has debts discharged through Ch 7. There are many reasons why some clients choose to do that, especially if they are financial planners who can lose their jobs if there is a foreclosure (at least that is what can happen to my client).
If you have had success with an escalation contact, I'd love for you to share it. Citi has second for 15K, FannieMaie is investor on the 1st and will not approve more than 6% (about $950) to pay to Citi. Citi refuses.
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