Florida Home Buyers and Investors Blog

OK, the news is out and Citigroup is out with their latest and greatest scheme.  Now for those of you that don't always read my BLOG, you may not know how I really feel about banks, but I'll just say this.  Banks DO NOT have your best intests in mind EVER.

Citigroup wants you to play nice and not have them go to all that hard work of actually foreclosing on your home.  Well, if you have a Foreclosure Defense Attorney, they will make sure, Citygroup does NOT take advantage of you, so consider that.

For those going through Foreclosure, you know it's not fun or easy, and the stress can be overwhelming.  I speak with you all on a daily basis.

Now, why would Citigroup want to offer you this option.  Plain and simple, it's all about MONEY.  Isn't it always!  If you agree to take care of the property, and give them the deed without going to court, they will allow you 6 months to relocate from the house.

Gee, how generous.  Lets see, if you fight the foreclosure, you can probably stay atleast a year or more, and still have time to Short Sale the property to avoid the foreclosure anyway.  Deed in Lie, or "Lieu" is a FORECLOSURE, and will be on your Credit record as such.

A Short Sale will be settled debt, much less difficult to overcome.  So, if a bank offers you a deal too good to be true, you know the lesson.  Don't fall for it!

Also, some are also considering Strategic Defaults.  BEWARE, these are rarely strategic and you need to understand what is at stake.  Download our FREE report about Strategic Mortgage Defaults.  Click Here.