On this week’s Preforeclosure Daily Grind “Tip of the Week” we dive into the 3 latest lenders that have changed their short sale policies when they are in the 2nd lien position. Listen in as we go over how Wells Fargo, CitiMortgage and SLS (Specialized Loan Servicing) is now asking for more and more money, our brand new “Action Plan” module for our PropTrackr.com System, what the Home Equity division of Wells Fargo is requiring from 3rd Party negotiators and more.  Visit www.PreforeclosureDailyGrind.com for more real estate information from Bob Lachance.

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2 Responses to “CitiMortgage Changes Short Sale Policy Again!”

1. myles says:

   July 9, 2010 at 7:39 am

   Great stuff guys. I have a citi 2nd heloc and B of A first.I tried for months to negotiate a short settlement with citi. The least they would take is 10% cash only. I offerewd 5% cash and terms for 5%. No go. They sent it to collections. I made the same offer to collections and again no go.I am getting pressure from B of A to modify my first but I will never qualify with this 2nd hanging around.This is my primary residence and is about 50% underwater in value. What can I do?

   Reply
2. Glenn Egart says:

   July 9, 2010 at 8:13 am

   Bob, Chris, HFC heloc also asked me for a power of attorney to speak with them. FYI,

   Glenn Egart Rock ON!

   Reply