I've been holding off on writing this. I even started a week ago and deleted it. But now I have "had it"- with Citifinancial and Nordon Collection Services (NCS), that is. The story has gone on for a few months. Citi is the junior lien holder on a Crestview, Florida home for sale. The property is a "short sale" and Countrywide/Bank of America is the senior lien holder.
Several months ago, Citi sent their $40,000 equity loan to NCS for collections. (By the way, try not to let your short sale sellers let a junior lien go to collections.) When we obtained a fair-market offer on the home about two months ago, NCS said they wanted $6750 to release the lien. I did not get an official "approval letter", just an email in lower case, partial sentences. I told the NCS rep, Lonny McMurdy, that I would relay the request to Countrywide and get back to him. Two months later, Countrywide issued an approval letter for their standard amount to the second, offering $3000 to the Citi.
I called Lonny back at NCS and relayed we had approval, and they were being offered $3000. Lonny was not nice. He said "Didn't we go over this two months ago? Why are we repeating this conversation? What is it that you don't understand?" I gently tried to interrupt what was becoming a raised-voice tirade, with "Sir, excuse me, sir, excuse me, sir, sir, sir, Excuse me, sir". When he finally stopped talking, I said, "Can we be polite here?" He then immediately hung up on me! I am serious.
So, being the ever solution-oriented Broker that I am, I called Citi. I relayed the outlandish behavior of their collection agency, and was told they would "take care of it". I was instructed to fax the approval and package directly to Citi. Now, after another week of phone loops, thirty minutes a day, lost letters of authorization, changed extensions, and more, Citi says they cannot help on the file. They are assigning it to a different collection agency. I have until June 5 to close, or Countrywide's approval will expire.
Wish me luck!
It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Destin Short Sales & Pre Foreclosure Help.
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email Wendy to sell your home or buy a home: itswendy@rulnickrealty.com
Call Wendy Rulnick, Destin real estate agent, to list and sell your home or condo or help you buy a home or rental property on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field. Wendy is a short sale and pre-foreclosure specialist and can help you sell or buy a short sale property in and around Destin Florida and the Emerald Coast.
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