CitiMortgage Deed In Lieu Of Foreclosure

CitiMortgage Deed In Lieu of Foreclosure Process

If CitiMortgage is servicing your loan then we at ACG will make sure that our customers go through the process of Deed In Lieu Foreclosure that is simple and standard and similar to other Banks:

1. First of all, a person from our team will call to speak to you loan counselor at CitiMortgage, Sometimes we will have to follow up after placing an appointment but once we speak to them the Deed in Lieu Foreclosure Process will start.
2. You will also need a paperwork called CitiMortgage Request for Mortgage Assistance (RMA).
3. In some of the cases you may have to undergo a Loan Modification review before being selected for consideration in DIL Process.
4. Before taking on the liability of owning the property they may require that you sell the property first to somebody else and deed it to them.
5. You will have to get your property title checked as the next step of the process.
6. The investor will want CitiMortgage to complete a valuation of the property and some investors may require two valuations
7. Next, we will have to negotiate terms with CitiMortgage about relocation terms and time frames.
8. As the last step of the process the lender i.e: CitiMortgagee will make an answer to your application of Deed in Lieu Foreclosure made to them.

Going through the checklist above is never as easy as it sounds and if you have dealt with CitiMortgage in the past you may have noticed that too. It is always felt like something will show up and there will always be some difficulties to be faced when you are working with them. But having said this you don’t have to worry about anything as ACG is here to help to streamline the process with your lender and we have over a decade of experience in this. When you are dealing with Deed in Lieu Foreclosure negotiators it is conventional that you will have to repeat certain steps of the process. With experience of more than a decade we know that we will have to run around from department to department getting your problems solved. Maybe it happens that you have been trying to get Loan Modification from them and they need to close that out or review your application. Maybe they want you to sell your home first so the short sale department has your file. We are here to do all the running around for you. Most important of all it is important that you figure it out when they are sending you in the wrong direction. Often clients come to us after submitting the wrong information on their deed in lieu application, getting denied, and not being able to figure out what happened. We can help you through the process of doing a deed in lieu of foreclosure even if that means reviewing a decline made by CitiMortgage.

CitiMortgage Deed In Lieu Timeline

Similar to any other bank CitiMortgage Deed In Lieu Timeline is also not specific. Sometimes what is going on behind the curtains is clear but this is not always the case. These are just a few of the hoops we jump through when dealing with a deed in lieu with CitiMortgage.

• To begin with, citimortgage is only working for a lender to service the loans because CitiMortgage is only a servicer of the loans. That’s why CitiMortgage has to work according to the set of rules that are called “PSA” or Pooling and Servicing Agreement that governs the pools of mortgages they service. It is like a contract between servicer and beneficiary of the mortgage note. Due to these rules, it is not always possible for CitiMortgage to make all the decisions themselves and for the decisions that they are not allowed they have to get permission from the investor. Some investors such as Fannie Mae (FNMA) and Freddie Mac (FHLMC) have pulled almost all decision making authority from many servicers and take care of many of the decisions themselves. As always the greater the number of hands in the put the more layers of bureaucracy you’re going to deal with.
• Additionally, the timeline of the deed in lieu is affected by whether or not your CitiMortgage Loan has a foreclosure sale date. CitiMortgage is tough when it comes to homes in foreclosure and stopping the sale date for a CitiMortgage Deed In Lieu to be completed. CitiMortgage has homes being sold at auction every business day. Sale dates even for the coming week are not working with urgency. Remember this business is a first come first serve but it is also influenced by foreclosure status and proximity to the sale date.
• Finally, not all negotiators were created equally. This goes for both sides which is what makes the process so tricky. In case of miscommunication, you will be headed for certain failure. It is a specialized skill of understanding this niche of representing homeowners in front of CitiMortgage for Deed In Lieu of Foreclosure Application. Often you will be put through the multiple levels of management including approval from an investor as mentioned above depending on what their total losses are for the banking institution who owns the interest in the loan.

CitiMortgage Deed In Lieu Timeline Conclusion: The timeline for CitiMortgage Deed in Lieu of Foreclosure does not only depends on the factors mentioned above but various more factors too. The decisions that CitiMortgage can make themselves will be quicker as compared to the decisions for which they have to get approval. Some other factors also affect it such as what is the value they perceived. If you have other liens this is also likely to limit your ability to complete a deed in lieu. How fast CitiMortgage’s Loss Mitigation department receives the CitiMortgage Deed In Lieu Forms to apply for mortgage assistance are received (readable) and other factors will come together to affect how long it will take for your CitiMortgage Deed In Lieu application will take to be Approved.

How To Fix A CitiMortgage Deed In Lieu Decline?

It can be often difficult to understand as to why your Deed In Lieu of Foreclosure application was denied. The reasons we have seen go back to as the miscommunication is important. They will not often tell you clearly why it happened or even if anything can be done to fix it. Here at ACG we review dozens of points in order to understand why your CitiMortgage deed in lieu offer was rejected. Have us review your declined deed in lieu for free by calling us at 888-934-3444.

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