Citibank Short Sale Experience
I am currently working on a short sale where Citibank is the holder of a 1st Deed of Trust. So far I am quite pleased with the short sale process at Citibank. There has only been one instance of an employee of Citibank being less than helpful and it was only an entry level person who was just naive.
From the initial processor all the way to the bank negotiator, I have been very satisfied. It really feels like we are all on the same page and we are in it together. Everyone wants the deal to close because it makes sense for all parties.
The short sale negotiator has even allowed for a good chunk of the unpaid HOA dues to be paid from the proceeds of the sale. He also is paying all of the back taxes that are due which equates to about 1.5 years worth of taxes! We have been able to postpone the Trustee's Sale (foreclosure auction) twice already.
Citibank issued us the attached short sale approval letter on 11/09/2011. In the approval letter, they agree to accept just under $143,000 as payment in full on a $325,000 loan balance. Citibank is forgiving $182,000 and agreeing to never come after my client for the deficiency.
On behalf of me and my clients; Thank you Citibank!
If you or someone you know is facing foreclosure or is interested in selling their home for less than they owe, please contact me directly at 805-813-7302 (call or text). You may also email me at sean.crosier@yahoo.com.