Strange Lien not released box on settlement statement

CA second chance

LoanSafe Member
Jan 20, 2011
2
0
1
I have just finished going through the second settlement process with Citibank (the fourth round in ten years and finally got a number I could handle-18%, wanted it lower, but also wanted the hassle out of the way).

Well as these things go my "excitement" fell fast when I recieved the final statement for the account. In a box highlighted in red on the front page it says, "...the lien on the property remains in place...to release...voluntarily pay...for example, on the sale of the home."

I SPECIFICALLY said in my offer letter that the lien would be released and no further action could be taken.

The whole process with Citi went very smoothly (on the fourth try) so I am hoping a phone call will fix this. But it feels VERY shady.
Why would I settle if the lien was not going to be released?

Is it legal for them to "pretend" settlement only to tell you all you did is pay down that amount on the principal?
 

Jzone

LoanSafe Member
Jun 20, 2017
148
15
18
69
I have just finished going through the second settlement process with Citibank (the fourth round in ten years and finally got a number I could handle-18%, wanted it lower, but also wanted the hassle out of the way).

Well as these things go my "excitement" fell fast when I recieved the final statement for the account. In a box highlighted in red on the front page it says, "...the lien on the property remains in place...to release...voluntarily pay...for example, on the sale of the home."

I SPECIFICALLY said in my offer letter that the lien would be released and no further action could be taken.

The whole process with Citi went very smoothly (on the fourth try) so I am hoping a phone call will fix this. But it feels VERY shady.
Why would I settle if the lien was not going to be released?

Is it legal for them to "pretend" settlement only to tell you all you did is pay down that amount on the principal?
You should of received a settlement offer letter from Citi. It would of stated exactly what was going to be done. For example, there should be some wording of "Mr. Jones, will pay $XXXX dollars to settle loan AND release lien".

Was this offer in writing or just over the phone?
 

CA second chance

LoanSafe Member
Jan 20, 2011
2
0
1
My paperwork was used throughout (pulled from information on this site-thanks). I just got off the phone with them. They said the lien removal was submitted, that they would send a copy and that I could check with the county later to be sure it was a complete circle. The rep was puzzled by the box on the statement that said the lien would not be cleared.