Citi Short Sale Specialist - CitiMortgage Sacramento Short Sale Approved - Sacramento Short Sale Specialist, Mark Peek, received another Short Sale Approval from CitiMortgage for a Sacramento Short Sale. The homeowner has a $305,000 mortgage on the home and Citi approved the Short Sale at $140,000 and is paying the buyer's closing costs. The loan investor is Fannie Mae. There is also Mortgage Insurance on the loan. This Citi Short Sale was approved without any seller contributions or promissory notes. The homeowner will be able to avoid foreclosure and can qualify to purchase another home in as little as 2 years. More importantly, the seller will be released from the lien and will not be liable for the short sale deficiency. 
From the Citi Short Sale Approval Letter:
Upon receipt of the NET PROCEEDS and a COPY OF THE SIGNED FINAL SETTLEMENT STATEMENT, CitiMortgage, Inc. will give a full release and reconveyance of their loan as agreed and no deficiency judgment will be instituted.
The statement above is very important in a Short Sale Approval letter. You want to make sure you have BOTH a lien release and a deficiency waiver in the approval letter. If not, you may be liable for the deficiency. The statute of limitations is 4 years in California for debt collection. If your short sale approval letters are not correct, you may be on the hook for 4 years. That's why it is so important to work with an Experienced Sacramento Short Sale Agent.
Considering a Sacramento Short Sale?
I can help you short sale your property and never pay the bank another penny. Send me an e-mail at mdpeek@gmail.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (916) 580-6084
Thanks for reading this,
Mark Peek
Mark Peek is the Short Sale Consultant at Keller Williams Realty. Citi Short Sale Specialist
Phone: (916) 580-6084. mdpeek@gmail.com.
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View My homes for sale at www.CallPeek.com.
Mark Peek specializes in short sales in Sacramento CA and surrounding areas including Rocklin, Lincoln, Folsom, El Dorado Hills, Citrus Heights, Granite Bay, Fair Oaks, Orangevale, Carmichael, Roseville, Antelope, Loomis, and more. Sacramento Short Sale Specialist, Sacramento Short Sale Agent. CitiMortgage Short Sale Specialist. CitiBank Short Sale Specialist
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Mark Peek's personal views and do not reflect the views of Keller Williams Realty.
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