What happens when you let your house go into foreclosure?

Jan 21, 2010 by m | Posted in Renting & Real Estate

I am considering letting my house go into foreclosure. I have mortgage though citibank and am able to make my payments on time, but cannot afford to do necessary repairs to my home. I am at the point of throwing in the towel and renting? My big concern

They will sell it at some point and if you are in a recourse state then any balance after the sale you would still owe. They will then sue you to recover the damages and garnish wages. You will then have a foreclosure on your credit file and no purchase

golferwhoworks | Jan 21, 2010

They will sell it at some point and if you are in a recourse state then any balance after the sale you would still owe. They will then sue you to recover the damages and garnish wages. You will then have a foreclosure on your credit file and no purchase
golferwhoworks | Jan 21, 2010

How many support this, I sure do?

Apr 13, 2011 by Holthar Bluetooth | Posted in Other - Politics & Government

The federal government on Wednesday ordered 16 of the nation's largest mortgage lenders and servicers to reimburse homeowners who were improperly foreclosed upon.

Government regulators also directed the financial firms to hire auditors

I support it, reports of banks rushing to foreclose and making errors have been around for some time.

For victims, it's not easy to fight back when your house is being taken away when you did nothing wrong.

Pfo | Apr 13, 2011

Loan Modification CitiMortgage Foreclosure Nightmare - Fox News, April 30, 2010

Tough economic times are forcing more homeowners into trying to modify their loans to avoid foreclosure...But for some it has turned into a ...

Foreclosure Settlement Opens New Doors for Fighting Fraudulent Banks

18.05.12

Website,  which has provided outstanding reporting and maintained an excellent compilation of materials on the mortgage-fraud crisis.)

The securitization of mortgages was intended to shield investors from risk by bundling thousands of mortgages together. But once they wanted to start foreclosing when the housing bubble burst, the banks discovered that they lacked the proper documentation proving ownership to kick families out of their homes. The resulting "robo-filing" scandal actually involved something far more sinister and downright criminal than rapid-fire handling of documents: the banks were concocting fraudulent mortgage documents and regularly engaging in perjury.

Source: In These Times

citibank foreclosures - Bookshelf


Reports of cases decided in the Appellate Division of the Supreme Court of the state of New York Reports of cases decided in the Appellate Division of the Supreme Court of the state of New York

Law - 2000
... matter is remitted to the Supreme Court, Orange County, for a hearing in accordance herewith. Upon the foreclosure ... already foreclosed by Citibank, NA , the Bank objected to the mortgage, inter alia, as a fraudulent conveyance.
Foreclosures, defenses, workouts, and mortgage servicing
774 pages 		Foreclosures, defenses, workouts, and mortgage servicing

Creator: John Rao, Odette Williamson, Tara Twomey, Carolyn L. Carter, National Consumer Law Center | Business & Economics - 2007
Citibank (West) FSB, 2007 WL 3408468 (ED Mich. Nov. 14, 2007) (Rnoker-Feldman doctrine does not bar federal suit that was filed before state court foreclosure judgment was rendered, but res judicata and collateral estoppel bat it).
How To Stop Foreclosure: By Sheriff Candidate How To Stop Foreclosure: By Sheriff Candidate

Creator: Christian Meister |
[4] BERGMAN signs the endorsement, as indicated below, and assigns the note from CITIBANK, NA to CITIMORTGAGE, INC, whereby the court notes that the “unrelated power of attorney” in () “was submitted to the Court in between the note and ...

Tips to Buyers of Citibank Foreclosures Residential Investment ...

Tips to Buyers of Citibank Foreclosures <!-- @page { margin: 2cm } P { margin-bottom: 0.21cm } -->

Citibank foreclosures , like other real estate owned or bank foreclosure properties, are offered at very cheap rates. Most of these residences come in the market at almost 50% less than their original value which makes them some of the most affordable houses being offered to real estate investors and private home buyers.

...

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citibank foreclosures - News


Government orders reimbursements for wrongly foreclosed
My Fox Boston - Apr 14, 2011
(Fox 25/MyFoxBoston.com) - The Federal Government has ordered more than a dozen of the nations' largest mortgage lenders to reimburse homeowners who were wrongly foreclosed upon. Citibank, Bank of America, JP Morgan Chase and Wells Fargo were four of

Green Angel Farm saved ... for now
Chinook Observer - Apr 26, 2011
"I made this $3000 payment directly to Citibank [the second mortgage holder] and this paid legal fees and stopped the foreclosure process," said Stentz. An online service is needed to view this article in its entirety. You need an online service to

US May Dump Homeowner Aid
Housing Predictor - Apr 25, 2011
Attorney Philip Kramer, whose firm Kramer-Kaslow of Calabasas, California has filed mass joiner lawsuits against Bank of America, Wells Fargo Bank, CitiBank, and JP Morgan Chase among others to halt foreclosures is convinced there is actually little

Banks Settle, Will Pay Back Homeowners For Faulty Foreclosures
Forbes (blog) - Apr 13, 2011
Banks Settle, Will Pay Back Homeowners For Faulty Foreclosures The 14 mortgage servicers including Bank of America, Citibank, HSBC, JPMorgan Chase, MetLife Bank, PNC, US Bank, and Wells Fargo have not admitted or denied wrongdoing and are not being hit with monetary penalties.

Ben Stein loses a corporate speaking gig for sexist jokes (instead of his ...
Salon - Apr 28, 2011
Ben Stein loses a corporate speaking gig for sexist jokes (instead of his ... 16, 2010, Citigroup CEO Vikram Pandit speaks during Citibank's new high-tech banking center opening in New York's Union Square. The Treasury Department said Wednesday it has received $312.2 million from the sale of warrants it held in Citigroup Inc.

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