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 FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Destin Real Estate Blog

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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