CitiApartments Foreclosures Picking Up, But Class Action Lawyer Believes They're Not Broke
"I've always wondered who actually owns the properties CitiApartments manages. I made my checks out to a company with several Roman numerals at the...
These are the comments for CitiApartments Foreclosures Picking Up, But Class Action Lawyer Believes They're Not Broke
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nobhill1380 said:
August 1, 2009 12:21 AM
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1390, 1380, 1340 etc... Taylor Street Property just received notes under doors tonight at 11:30 pm that the bank has taken over these Citiapartments buildings today July 31, 2009 and all payments are to be made directly to bank vs. citiapartments. Funny how Citiapartments has autopay directly to their accounts coming out at midnight tonight for most tenants. As per todays notice in the SF Examiner that they have been stealing the deposit money from tenants as cash flow are we to expect failure to pay notices by the bank next week if Citi keeps the rent money? Anyone out their helping the honest tenants?
generic said:
August 1, 2009 12:49 PM
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Why is anyone still paying their rent money to Citi?
Seems to me the prudent thing to do is to get at least a few months behind.
demjen88 said:
August 1, 2009 3:06 PM
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The lawyer in this case is absolutely correct about CitiApartment's numerous entities being nothing more than a shell game. I had the unfortunate experience of working for these scumbags and I know for a fact that the multiple entity thing is no more than a farce. They take money supposedly slated for one entity and use it for the expenses accrued by another entity. I am confident that the attorney will be able to get the damages from the entities that still remain, but they better act fast! From what I understand, CitiApartments is very, very close to shutting it's doors for good. If that happens, the poor people who had their deposits stolen will have to stand in line behind numerous banks in bankruptcy court all seeking a slice slum lord pie!
Brian Devine said:
August 1, 2009 4:17 PM
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I'm the attorney who filed the class action against CitiApartments.
@nobhill1380 - I looked up the Taylor Street addresses on the City Recorder's website, and it shows that the CitiApartments entity (LSL Property Holdings) is still listed on the deed as the owner. I haven't heard about a foreclosure action regarding this property. But usually, one of the first thing the Court does when a foreclosure action is filed is to allow the bank to take control of all rents and profits from the building. Sorry I don't have much information to help you, but we're still investigating the tangled web that CitiApartments have weaved.
@demjen88 - I'd love to talk to you about the information you have. Feel free to shoot me an e-mail at bdevine [at] seegersalvas.com