August 31, 2017


A Wells Fargo/CitiMortgage Short Sale Success! After a year of frustrating failed attempts to get his loan modified, this Connecticut homeowner decided to throw in the towel, cut his losses and short sell his upside down CT home.

Surprisingly, it took 5 whole weeks to find a buyer for the lovely waterfront home. Despite painstaking efforts to gain a quick approval, Wells Fargo (a mess as usual) shuffled the file around for almost 4 months before countering the purchase price.

Some re-negotiations followed and a resolution was reached. Wells Fargo approved the short sale and we were prepped to close. CitiMortgage on the other hand assigned us an unresponsive, inexperienced processor. While Citimortgage is usually an absolute pleasure to work with, this would prove the exception. 

It took Citimortgage a full 5 months to also get us a short sale approval on my clients second mortgage. Thankfully it came just in the nick of time and a few days later this Connecticut Wells Fargo – Citimortgage short sale CLOSED!

OWED: Wells Fargo First Mortgage:$240,000 & Citimortgage Second Mortgage: $60,000



Last Updated on September 12, 2017 by Minna Reid

About the author 

Minna Reid

Minna Reid is The Broker - Owner of Reid Real Estate Group. Reid Real Estate Group is a full-service Connecticut residential real estate brokerage, specializing in helping homeowners with legal and financial challenges including short sales, probate sales and tax lien complications.

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  1. Good Afternoon, I’m also dealing with CitiMortgage under this short sale process. I am under contract for a home in Miami, FL. It has been over 5 months since signing a short sale offer!!

    Seriously I am at my wits end, and no one has offered any real answers for why the process has taken so long. Supposedly, we have been waiting all this time for a BPO.

    Please help !

    1. Hi Kraig – 5 months is actually not terribly long in the short sale world….Are you the seller or the buyer? I can’t tell for sure. If you’re held up this long for a BPO there’s likely a problem with your paperwork. Is your agent negotiating this short sale?

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