Walking away - Citimortgage

[laurannm]

Hello!

My family and I are relocating in two weeks to TN and have decided to walk away from our non-reaffirmed mortgage with Citi which is way underwater (already found a rental...I Know we could live here longer rent-free but a job offer has come up which we cannot refuse). Currently living in Mass

We are already 5 months behind and haven't heard much of anything from Citi other than a debt validation notice about 3 weeks ago. Anyone had any experience with walking away from a mortgage with Citi? Any tips on what I should do (should I call them and let them know, leave the keys on the counter, etc.)? My plan is to leave the keys on the counter, turn the water off (at the main in the house), turn off electric and gas and drive away. Should I even bother with a deed-in-lieu or anything like that? Should I cancel my insurance?

Thanks!

[ValleYum]

I wouldn't bother with an attempt at a DIL - they likely wouldn't accept it. Crazy isn't it?

I would call them and I would send a CMRRR letter letting them know the keys are on the counter and the house is vacant and you have cancelled the homeowners - make sure to call the insurance company and cancel your policy and to leave them a forwarding address for any premium refund.

I wish you the best on your journey to a new job and new start!!

[laurannm]

I wouldn't bother with an attempt at a DIL - they likely wouldn't accept it. Crazy isn't it?

I would call them and I would send a CMRRR letter letting them know the keys are on the counter and the house is vacant and you have cancelled the homeowners - make sure to call the insurance company and cancel your policy and to leave them a forwarding address for any premium refund.

I wish you the best on your journey to a new job and new start!!

Thanks! Are there any templates\examples of the CMRRR letter out there?

[ValleYum]

SENT VIA CERTIFIED MAIL

Dear Ex-Mortgage Company:

RE: Loan # ___ located at 1313 Mockingbird Lane, TVland, TV 66666

Please be advised that we have vacated and secured the premises at the address located above. We have turned off the utilities. We have also cancelled the homeowners insurance on the property. The keys to the home were left on the kitchen counter.

This letter was sent so that you would know to secure and protect the now vacant property that was discharged in Chapter 7 Bankruptcy on ____.

Sincerely,

TheHouseIsNotMyProblemAnymore!

I haven't seen any out there but maybe that one ^^^ will give you an idea?? LOL I hope so anyway.

I am SO excited for you - I know you have got to be happy, too!!