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CitiMortgage REO

CitiMortgage REO properties are foreclosed homes that have not been sold in the foreclosure auction. Such properties are lying with the Asset Management Department and the bank has to create a separate division to keep maintaining them as well as find buyers to dispose them off as soon as possible. Indeed it is hard for them to sell these abandoned houses all by themselves and recover all underlying costs.

Asset management companies are hired, asset managers are appointed, real estate agents and brokers are roped in and vendors are contacted to sell off these properties at good prices. CitiMortgage REO Department handles all aspects of maintaining and disposing a real estate owned property in a US state.

CitiMortgage REO Properties

CitiMortgage REO Properties, or in other words CitiMortgage Properties for Sale, can be searched online using the resources provided by the bank. A very large number of foreclosed houses of all kinds are listed on the website of the bank. You could be the owner of the one you like most.

Just visit www.citimortgage.com and click over "CitiMortgage Properties for Sale". You will be taken to the page where you can enter preferences and other search criteria to see a listing of homes that you might be interested in buying. Each property is shown with its location, type, size, number of beds & bathrooms, and price. You will also find the contact details of the agent handling the property. Just call the number and start the process of making a deal.

CitiMortgage REO Department

CitiMortgage REO Department usually does not sell these properties directly but it ropes in a number of real estate agents, brokers and asset managers to maintain as well as sell them in the open market. The Department has set some criteria for the agents, vendors and asset managers to work with the bank. To become eligible to list Citibank REO Properties, a real estate agent or broker needs to complete certain courses. Moreover, they need to submit a completed broker application form along with certain items, such as complete W-9, proof of MLS, Coverage Area Map, proof of Errors & Omissions Insurance with a coverage amount not less than $250,000 and current licenses to handle Citibank REO Properties.

For more you can contact CitiMortgage REO Asset Management Department. However, it is hard to find a direct phone number or other contact details to the department. Nevertheless, you can try contacting Citibank Mortgage Customer Service or Loss Mitigation Department that handles foreclosure as well as short sale. Here are contact details for the CitiMortgage Inc.

Phone Number: 1-800-283-7918

Website: www.citimortgage.com


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