CitiMortgage paying borrowers $12,000 after a short sale

If there’s any equity left after a sale, the owners or their heirs get that cash. But borrowers can lose their home if they fail to pay property taxes. expenses,” Colangelo said. “If you get a.

 · BofA enhances short sale incentive up to $30,000. The incentive can be used to help pay off junior liens, including credit cards judgments, utility liens and tax liens.. CITIMORTGAGE: Citi.

The second part, Part B, is processed after. short sales that CitiMortgage executed in 2010. The office analyzed 68 of the company’s nearly 1,900 FHA short sales from last year and found that Citi.

CitiMortgage, the mortgage servicing arm of Citigroup (C: 37.63 -0.97%) is paying borrowers an average $12,000 after completing a short sale this year alone. Justin Rand, the senior vice president of loss mitigation at the bank, said servicers are putting more.

 · We are going thru a loan mod with Citimortgage and we are receiving the same treatment as in the complaints listed on this site. It has been almost 2 years since we started the process and have sent in the same paperwork at least 10 times because they lose it or misplace it.

The home appraised for $12,000 less than the agreed sale price. Some realtors are recommending buyers short on cash to lower their down payment enough to make up the difference. The catch? They.

 · Citi mortgage home_affordable_foreclosure_alternative_matrix. CitiMortgage will not require the borrower to pay in advance for the valuation, but will add the cost to the outstanding debt in accordance with the borrower’s mortgage documents and applicable law in the event the short sale or DIL is not completed.. day SSA period has.

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Short Sale. How short sale is reported will effect credit score; After short sale, lender can report as: 1. Paid in full – paid as agreed 2. Paid – settled 3. Paid – unrated. If the owner is current with other payments, a short sale may only lower score by 50 points..

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CACC Overview Credit Acceptance Corp. from the borrower comes in, Credit Acceptance first collects the 20% servicing fee (,562), then the next $6,250 is used to pay down its receivable. The next.