I have a phone to my ear.  I've literally been on hold with Citi's short sale dept for over 40 minutes this morning.  I need to find a way to escalate beyond the negotiator on the file.  Here's the situation.  They approved the short sale.  BUT, buyer's appraiser could not appraise it at the purchase price.  So Citi sent out another BPO agent.  Who still came in with a higher value (10%) than appraisal.   Well the problem there is that the appraiser took a declining market adjustment.  He made a more than 3% per month adjustment on each comp used.  I can assure that the BPO did not do that. I've done BPO's.  Citi will not show me the BPO.  There is a closed comp on the next street lower than the appraised value but it appears that comp was not used.   Because of the declining nature of our area, if Citi takes this back in foreclosure, they'll probably net anywhere from 20-30% less than the buyer's appraised value.  So, though I know these banks have no logic or sense, there has got to be someone who can look at this critically and realize what is happening.

We have a heartbroken buyer.  We have a bank so staunch in their guidelines that 10k (5%) is going to push this into foreclosure.  I have shown the negotiator trend reports, comps, the buyer's appraisal and she won't even look at , or consider, them. 

I need escalation at CitiMortgage.  Does anyone have a recommendation for a direct number?  As I type this I'm still on hold. 

You should be ashamed CitiMortgage.  You have a seller trying to do the "right thing."  You have a buyer who wants the house.  You have a market that is declining - getting worse month over month.  And you will foreclose? Shame Shame.  And, if you do foreclose and you come back listed as an REO 20% or more lower than we have on the table now, should I laugh? Or cry? I feel the latter coming on...