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Servicer makes more $ on Foreclosure than a loan mod?

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Citi Mortgage & Citi Financial Homeowner Help Center The great people at Citi Mortgage and Citi Financial (which are now merged) have contacted us at Loan Safe and asked that we make sure that their customers know that they are here to help them. We at Loan Safe believe 100% that this is true and will help facilitate this via Citi's new forum.

This is a discussion on Servicer makes more $ on Foreclosure than a loan mod? within the Citi Mortgage & Citi Financial Homeowner Help Center forums, part of the Stop Foreclosure and Tell Us Your Story category; I guess I can kind of see this if it is a fannie/freddie loan or an outside investor, but why ...

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10-27-2009, 06:30 AM	#1 (permalink)
gdubya Member Join Date: Oct 2009 Location: Twin Cities, MN Posts: 8 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Servicer makes more $ on Foreclosure than a loan mod? I guess I can kind of see this if it is a fannie/freddie loan or an outside investor, but why would Citi do this if they own the loan? I mean, if it's underwater and they own it foreclosure would be a big loss, right? Are they just too dumb to figure it out, and treat everyone as if the investor will have to pay them to deal with it?

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