Desperation has set in like mad.
Walked away from a condo turned apartment building in July, 2011. We simply needed a bigger place and house was declared unsaleable (no condo association/it turned into an apartment building).
Hardship: We have no financial hardship. Husband does live in Oregon (job) and I have to move to northern Illinois (job). I don't know if this counts as a hardship.
We involved a shortsale company. In April, we got an offer on the house. 55,000. We bought the place for 169,000 and owed about that on it (despite making payments on time for 5 years).
We are at the end of the road here. Bank sale is scheduled for October 18th. My case manager at Citi has requested bank statements, etc. every month since April and still, nothing seems to happen. Lately, I've upped the pressure and have been calling/emailing the case manager weekly. He says it's in the underwriting process (it has been in the underwriting/negotiations process forever).
I don't understand why this is taking 5 months. And I have no idea if they are just stringing me along.
And frankly, I don't know what to do at this point. Do we hire a lawyer and toss money at trying to move back the October 18th sale date? Is Citi going to come after me anyway for the deficiency? If so, why bother, I guess? Is there anyone I can call to speed along the process?
The representative at Citi is being pretty snarky. He doesn't seem interested in cooperating. We aren't trying to buy time in the house, haven't destroyed it, etc. Wouldn't it be a lot easier for them to just get on with the short sale than to drag this thing out for years?
I'm so confused. I guess if it forecloses, I'll have other questions about trying to declare bankruptcy even though our income probably won't allow this.