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Valley Short Sale Expert
Lauren Nemeschansky
Remax of Santa Clarita short sale
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Short Sale with Citi Mortgage

Citi Mortgage Short Sale
Short Sale, approval letter, Citi Mortgage, Short Sale Realtor

Short sale approval letter for Citi Mortgage first and second

In this situation the owner lived in the high desert community of Palmdale and had refinanced his house several times over the years. He owed approximately $470,000 on his first mortgage note. He also had a loss in business revenue so he took out a large, over $150,000 second equity line on his home. Basically he owed over $570,000 in mortgage debt on a home which now was worth approximately $120,000.

The homeowner had been unable to pay his mortgage for several years and after being denied a loan modification several times because of his decrease in income and high mortgage debt on his home. He had an adjustable rate mortgage, ARM which kept adjusting up and ever increasing his monthly payments with little going towards his equity which now was negative equity. The owner was one week away from a foreclosure sale when I was contacted by his family attorney. The owner was becoming physically ill from the fear of the foreclosure sale and his concern in his words that “he and his family would be thrown out into the street.”I was asked to stop the foreclosure and short sell the home so that the owner could avoid having to do a bankruptcy since he had no other large debts which would warrant a bankruptcy and he was trying to improve his credit and pay off his bills.

I was able to convince Citi Mortgage to postpone the foreclosure sale and allow us to short sale the home instead. I actually stopped the foreclosure sale completely only the night before the scheduled sale. The owner is very grateful that he was allowed sufficient time to arrange for a rental home and now is rebuilding his credit after avoiding a bankruptcy and will be ready to purchase another home in about two years. His business is doing well and his rental payments for his lovely home is about half of what he had been paying. In this situation both approval letters for the first and second mortgage are identical except the loan numbers on the cover letter of each approval letter was different showing the debt for both loans as being forgiven. Please contact me for a consultation if you are interested in learning how to avoid a bankruptcy from debt on a first and second mortgage note.

Short Sale Approval Letter

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Contact Information

ReMAX of Santa Clarita
Valley Short Sale Expert
25101 The Old Road #232
Santa Clarita, Ca 91381

Phone: 661-310-8215
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About Lauren

REmax real estate agent
Lauren Nemeschansky is a REMAX
Real Estate agent serving
all of Santa Clarita,
Valencia, Stevenson Ranch,
Saugus, Canyon Country,
Newhall and Castaic.
San Fernando Valley and Los Angeles
HAFA short Sale Expert
CDPE certified real estate agent
M.S. Degree from California State University, Northridge
Real Estate License DRE#0172935:

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Short Sale Realtor Serving: Santa Clarita, Valencia, Stevenson Ranch, Saugus, Canyon Country, Castaic, Newhall
Copyright © 2013 All Rights Reserved. Valley Short Sale Expert, Lauren Nemeschansky
Lauren Nemeschansky is a Licensed REMAX Real Estate Agent DRE#0172935       Google
All information provided is deemed reliable but not necessarily accurate, neither Lauren Nemeschansky nor REMAX of Valencia shall be held liable for any inaccuracies or results thereof. This website and the information provided herein is for general educational purposes and is not meant to provide solutions for debt or mortgage problems or substitute for the counsel of a professional. Distressed homeowners are recommended to seek the advice of an attorney and tax professional. All rights to the content of this website are reserved and shall not be sold, duplicated, used or published in any manner without the express and written permission of Lauren Nemeschansky