Comment

Comment by Ben Benita on April 9, 2010 at 10:19am

Cindy, tell the bank "NO" to missing payments and to GET THEIR HEADS OUT OF THEIR ______ AND READ THE HARDSHIP LETTER!!!! (maybe leave out the get your head out of your _____ part)

Tell them to send you something in writing that states:

"Owner MUST skip payments"

legally I do not think they can do that. We have NEVER had a lender require this when we push back. Your negotiator only asks this b/c it makes his/her job easier and it is part of teh script they are reading off of.

Next time, try this, it is our standard response to the "skip payments" requirement:

"Really, that is AWESOME!!!! I can tell the owner to quit paying you guys and THEN YOU WILL HELP THEM....they are going to be so thankful and excited about living in their home for free while we work on this short sale....."

Lender response 99 times out of 100:

"Uhhhh, I am not saying you have to skip payments......"

Comment by Cindy Jones on April 9, 2010 at 10:00am

Anyone have a number for a homeowner to contact at Fannie Mae for an exemption to the 30 day late rule? Citi says they would process but investor says unless they are past due they won't consider. Military family with PCS orders who really don't want to start messing up their credit and chances at decent housing at next duty station.

Comment by Edward Codelia on March 5, 2010 at 2:29pm

Any contact information at Citi for homeowners that need to explore or discuss modification? Any customer advocates?

Comment by Ben Benita on March 5, 2010 at 1:42am

Question of the day -- Are YOU more likely to see Bigfoot or a short sale approval letter??????
:-) DanaVoelzke.......nice work with CITI!!!!

Comment by DanaVoelzke on March 4, 2010 at 7:05pm

Got a Citi approval (government loan) in about a month!!

Comment by Kent Dills on February 22, 2010 at 2:58pm

Yep, good value-add Ben. You definitely know your stuff!

Comment by Ben Benita on February 22, 2010 at 2:54pm

actually depends on who the investor is....keep in mind, we only know from the post that Citi is the "servicer". If she is lucky, they are handling both liens through one or related investors. If not, it could be a pain in the butt just like any other short sale with a first and second. Querstion CIndy needs to know: is this a portfolio loan (where Citi is the investor), a government loan (where Fannie or Freddie is the investor), or a private note where there is a private investor. You should also ask if there is mortgage insurance and how soon either note will be sent to charge off if payments are late.....don't you just LOVE LOVE LOVE short sales :-)

Comment by Kent Dills on February 20, 2010 at 3:44am

I don't see any roadblocks Cindy. The fact that Citi has both 1st and 2nd should make it easier for you. They'll just tell you how much to give the 2nd on the HUD1 and off you go!

Comment by Cindy Jones on February 20, 2010 at 1:26am

I have a military family who we are just starting the short sale process with Citi. Interestingly enough when we sent the initial application & supporting documents, (no contract yet) they ordered a BPO right away. The family is not behind on payments but have PCS orders outside the CONUS. Any roadblocks agents experienced with Citi can see? Have both a first and second with Citi.

Comment by Brian Peters Jr on February 18, 2010 at 6:14am

http://www.nytimes.com/2010/02/11/business/economy/11citi.html?emc=...

• ‹ Previous
• 1
• …
• 36
• 37
• 38
• 39
• 40
• …
• 42
• Next ›
• Page