Citimortgage is not complying with the bailout, no help at all for homeowners-Foreign H1B visa Holders taking care of Housing problems O'Fallon Missouri

Citimortgage being one of the worst lenders to deal with with short sales, that is a way of helping responsible homeowners avoid foreclosure, got one of the biggest chunk of money from this " bailout" for the rich and famous, in order to "Help" homeowners not to lose their homes, or at the least, not to lose their credit inot bankrupcy. What Citimortgage has to do is approve all short sales requested, and help a good client going thru hardship to avoid foreclosure and public sale. Is not true that bailout money is just for refy's or keep homes with high interest rate, balloon refys or sort of thing invented by some lenders to keep sucking blood from the people. Citimortgage with their recovery department are only getting all clients to foreclosure without helping at all, and are paid with Bailout money, since that ( their wages) is the most used cause for this bailout money that came out of our pockets.

The bailout to help you refinance yuor home and remain in it.

Not to short sale the house. The legislation does not cover short selling your house.

Reread it.

Yes - Citmortgage is not helpful if they are in 2nd position. They are very aggressive and they don't care. We recently had an approval on the a short sale on the first position who was ING and the first agreed to pay $3000 to 2nd to release the borrower and lien so we could complete the short sale. The clients I represented are going through a divorce and loss of job with true hardships. We worked months on these but Citi would not budge they would only release it for $12,000. The first would not allow this payoff and we went back and forth with Citi. The ING negotiator also contacted Citimortgage with an attempt to work something out with them to take $9k and again Citimortgage would NOT budge. They told us to go ahead and foreclose and the let the property go. We did let them know that our clients did seek legal advise and would file BK should Citi go after them for the deficiency. Furthermore once ING foreclose they would be wiped out and receive NOTHING. They told us they would rather take the write off than releasing the lien to complete the Short Sale. This is ridiculous! We had a ready and willing buyer and now it will be an REO that will sell for a lot less. The ING negotiator tried to hold off the foreclosure, but we just found out today that he could no longer hold off the sale. We lost the property due to Citi being JERKS!!!! There is no logical reasoning they will lose more money. Someone at Citi needs to do something about this! They themselves are in financial hardship asking for government handouts; why can't they help the consumers if there are legitimate hardships????/

The bailout is to keep in their homes, it has nothing to do with short sales.

Was that second mortgage part of the purchase of the home, or was it an equity out loan. If it was a equity out loan, then maybe the borrower should not have used his/her home as an ATM machine.
Equity out loans will not be forgiven, purchase money seconds can be. But it is up to the investor.

The bailout is to keep in their homes, it has nothing to do with short sales.

Was that second mortgage part of the purchase of the home, or was it an equity out loan. If it was a equity out loan, then maybe the borrower should not have used his/her home as an ATM machine.
Equity out loans will not be forgiven, purchase money seconds can be. But it is up to the investor.

The bailout is to keep in their homes, it has nothing to do with short sales.

Was that second mortgage part of the purchase of the home, or was it an equity out loan. If it was a equity out loan, then maybe the borrower should not have used his/her home as an ATM machine.
Equity out loans will not be forgiven, purchase money seconds can be. But it is up to the investor.

The bailout is to keep in their homes, it has nothing to do with short sales.

Was that second mortgage part of the purchase of the home, or was it an equity out loan. If it was a equity out loan, then maybe the borrower should not have used his/her home as an ATM machine.
Equity out loans will not be forgiven, purchase money seconds can be. But it is up to the investor.

Would this 20K be the only amount Citi would have received or were they going to get some money from the short sale amount? If so how much were they going to get and what is the balance of the 2nd lien.

It also seems you have more issues because an employee's VISA status does not matter. In fact, I give them credit for hiring employees that are actually legally allowed to work in the US.