Conversation with a Citi Negotiator

I’ve written a few blog posts about Citi short sales in the past.  One, Citi Rep Says Market Didn’t Cause Price Decline and another Is Citi Mortgage Getting  Nice?  Well, I’ve just had a situation regarding a Santa Rosa Beach FL short sale that I must relay.

First Mortgage:  Everhome

Second Mortgage: Citi Mortgage

First Offer: Buyer walked after three months

Second Offer:  Buyer gets relocated to another state last week!

Status:  Citi had approved the second offer to close within 30 days and Everhome issued approval DAY OF buyer’s withdrawal

Update: Wendy gets replacement contract from new buyer, exact terms, within 3 days

Everhome:  Delighted! Seeking investor approval for new buyer

Citi: New Rep, “Sassia”, was assigned to replace previous negotiator

Wendy: Leaves upbeat message on Sassia’s voicemail: “Hello, this is Wendy Rulnick, authorized on  account 7878722, borrower- Smith.  Buyer  had out-of-state  job offer last week, withdrew.  I have an identical substitute offer, no changes in terms, ready to close within 30 days.  I’ll fax you the replacement contract and HUD.”

Sassia: Calls and leaves a message on Wendy’s voicemail: “Please call me reference borrower Smith.”

Wendy: Calls Sassia back. Gets voicemail.  Leaves identical detailed message regarding substitute offer.  Finally Sassia calls back and gets Wendy live.

Sassia: “What is going on with Smith?”

Wendy: Relays exact detailed message that was left twice on her voicemail.

Sassia:  “This has been going on a long time, since July.  Two buyers have walked.  Why?”

Wendy: Repeats exact information about job relocation of buyer.

Sassia:   “Don’t bother faxing me anything!  I don’t know what the previous negotiator did, I do things differently.  I will need approval in writing from the first within 48 hours or I will CLOSE THE FILE.”

Wendy: “I am sure the first is imminently getting a replacement approval.  It might take a few more days.”

Sassia: “I will give you until Friday.  I have too many files on my desk.  If I don’t have the approval by then, you will have to start the process all over.  Good-bye.”

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