Citi Mortgage has partnered with RE/MAX on a nationwide short sale initiative. They are hoping to proactively list, and hopefully sell, these properties that are under water. Citi is going through it’s portfolio loans and proactively soliciting those sellers to let them know about the short sale program. Citi will control what price to list the property at and will certainly decide what they will sell it at.
If you have a Citi Mortgage and you are currently behind on your mortgage payments, you may expect a letter from Citi as well as RE/MAX.
The banks are getting more and more active with short sales. It appears they do not want these properties back.
If you live in Minnesota and are behind on your payments and not sure what to do, please fill out this form and we can have a confidential conversation.
For more information on avoiding foreclosure and the short sale process, please visit my site dedicated to this important topic at Short Sale Minnesota.
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