Looking to sell

tillernan

LoanSafe Member
#1
Hello,
I am looking to sell my home.I am in CA. I did a hamp modification on my first in 2009 and doing great in that program. I stopped paying on my second with Citi back in 2013 trying to get a modification and Citi just screwed me around. Second went to collections and was charged off in 2015. Tried to settle with collections 3 different times to no avail. I am sure there is a lien on the property but how do i go about seeing to settle with Citi or who ever if I can sell the house and offer a settlement. I have not made contact with Citi since the charge off.
 

Jzone

LoanSafe Member
#2
Check with your county register of deeds to see who has the lien. It could still be Citi.

If it was charged off, Citi could also have sold the debt to a collection agency along with the lien.
 

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
#3
Yes you're most likely going to have to pay off that 2nd lien, even though it's charged off it doesn't mean the lien was stripped. We do refinance borrowers with prior charged off 2nd liens under conventional with great terms if you end up wanting to keep the property. If you sell the home you will have to pay off everything including any past due. Also if they get a hint you're planning on selling it, you will hinder any type of negotiation if one is possible because they will get paid in full.