Citimortgage

Out of all the lenders I work with, Provident lands towards the top of my list of favorites.

When this Manchester, CT seller first called me, I had never even heard of Provident and feared for the worst. Smaller lenders can be be very disorganized and difficult to work with, however Provident proved to be the opposite. We did face a few delays though. First the property proved to be a tougher sell than I imagined...the market here in CT seems to be declining at a tremendous pace and sometimes it is simply hard to keep up. Second - my seller committed the cardinal sin of short sales - not providing documentation in a prompt fashion !!!!!.

If there's one thing you can do to help yourself as a CT short seller - it is to get all your documents in…

Another CT Citibank short sale success!

Knock on wood, but I have yet to have a bad short sale experience with Citibank. This particular Manchester CT short sale was an absolute breeze.

After several years of unsuccessfull attempts at a loan mod, my client was in foreclosure and had finally given up and decided to short sell. Less than 3 weeks on the market later, a strong cash buyer was secured and a package headed off to Citi.

To my great surprise, the negotiator that followed up just a few days later - Frank - was by far the most friendly, agreeable and absolutely pleasant short sale negotiator I had ever dealt with. Frank was so likeable, if he had been local, I would have invited the guy over for dinner with my family.

The BPO they had…

OWED:

$190,000 1st to AHMSI

$45,000 2nd to Citibank

After buying this home in 2006 for $235,000 my sellers were quite disappointed to learn that over the past 5 years their home had fallen in value to almost 50% of that figure. With a looming foreclosure on the horizon, the home needed to be sold and a short sale was the only option.

The home was on the market for about 5 weeeks with a few reductions until a buyer was secured. While Citibank was a breeze to work with as usual, AHMSI proved to be quite the opposite. The responses were slow, and the negotiators at AHMSI must be some aggravated or underpaid folks, as they have some of the worst bedside manner I've ever seen. AHMSI also likes to gouge for fees. Their demands for 1% from…

A Citimortgage FHA Short Sale - A complete pleasure (well almost...)

As a full time Connecticut Short Sale Agent, my days are usually not most accurately described as "a pleasure"....except for this particular short sale.

My South Windsor, CT client was an absolute dream to work with from day one...and his lender Citimortgage - the same. In fact, our negotiator was pleasant, patient and fast. Since this was an FHA loan, the lender got right to work getting the short sale approved, despite the fact my client was current. In fact, less than a month after submission of a full short sale package, we had an FHA approval letter and a buyer was secured immediately.

In fact the entire event was so fast, my seller and the buyer were caught off guard and…

A CT Citimortgage VA Short Sale Success:

OWED: $200,000

SOLD: $155,000

TIME FOR SHORT SALE APPROVAL : 10 weeks.

LIST TO CLOSE: 4.5 months

Although Citi is generally a breeze to work with, this Meriden, CT short sale was complicated by the fact the loan was owned by the VA. The VA has very strict guidelines, and from my experience VA short sales are a little slower to get approved than most others.

After a 30 day marketing time, one reduction and multiple offers, a strong VA buyer was secured for this CT short sale. The negotiator at Citi proved to be highly difficult and unresponsive to work with, extending our time frame for approval to a very long 2.5 months. In this day and age most lenders are approving short sales in an…

A Connecticut Short Sale with OCWEN and Citibank - Approved and CLOSED

OCWEN 1st: 310,000

Citibank 2nd : 70,000

Settled in FULL: $320,000

This was a rather interesting short sale. OCWEN proved to be quite challenging to deal with. The problem with OCWEN is that the entire company is in India. This would be just fine except for a few problems:

• The short sale negotiator will never actually answer the phone
• The negotiators will NOT communicate via email
• When they do call back they only call at random strange hours (8:30pm)...will not leave a message, and if you do answer the phone and are not traveling everywhere with your customers loan number, social security number, and other identifying information, they won't talk to…