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Now not knowing and thinking of settlement, I had been making payments every month to NCI at the same amount as the original 2nd mortgage payment. NCI in my last phone call to them asked ME if I would consider a settlement on the account, my current balance is easy payday loan online 39. If I can get this new mortgage and sell my current home, would it be more inclined for NCI to payday loans for really bad credit settle with me since OCWEN already released the lien 2 years ago? I have not seen this issue where the lien was released on the 2nd, with a Closed - Charge-off account on the credit report, but I have been paying consistently for the last 2. I have reached settlement with BofA on my 3rd HELOC. There is a provision that states it will be reported as settled for less than full amount - so akin to a short sale.

At the moment, I qualify for a refi on my 1st and 2nd, but with the problem 3rd my loans were to high against the equity in the house.

With the 3rd HELOC gone now, I am in good shape from a LTV, but my credit will now take a hit due to the settled for less than full amount. Is BofA required to file a report, or do they have the option to do nothing (i. Hey Maurice I had a question for you with regards to a similar situation with Nationwide Credit as well. I am looking to sell my home and have a 2nd that was closed as a charge off with OCWEN with a balance of 45K back in 2014.

Now not knowing and thinking of settlement, I had been making payments every month to NCI at the same amount as the original 2nd mortgage payment. NCI in my last phone call to them asked ME if I would consider a settlement on the account, my current balance is 39. If I can get this new mortgage and sell my current home, would it be more inclined for NCI to settle with me since OCWEN already released the lien 2 years ago? I have not seen this issue where the lien was released on the 2nd, with a Closed - Charge-off account on the credit report, but I have been paying consistently for the last 2. Have you tried to qualify for a new loan with all the documentation and support you have including making payments on the loan? I would advise you have someone send the file completely through underwriting to determine any obstacles or hurdles you have to jump through before you sell right away.


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I would be curious if you could get the credit bureaus to update your credit report with the documentation you have. I have reached settlement with BofA on my 3rd HELOC. There is a provision that states it will be reported as settled for less than full amount - so akin to a short sale. At the moment, I qualify for a refi on my 1st and 2nd, but with the problem 3rd my loans were to high against the equity in the house. With the 3rd HELOC gone now, I am in good shape from a LTV, but my credit will now take a hit due to the settled for less than full amount. Is BofA required to file a report, or do they have the option to do nothing (i. Have you tried to qualify for a new loan with all the documentation same day cash advance knoxville tn loan lenders and support you have including making payments on the loan? I would advise you have someone send the file completely through underwriting to determine any obstacles or hurdles you have to jump through before you sell right away. I would be curious if you could get the credit bureaus to update your credit report with the documentation you have. So we wind up not being able to obtain a new mortgage because even with the lien released on this portion of the mortgage, the loan was listed as a charge-off and a 180 day late payment and therefore was considered a foreclosure. The conventional mortgages you need to be at least 4 years post charge off and FHA was 3 years. Our 2nd lien was released as promised last summer by Ocwen (NCI).

We approached 7 years of our last payment this month. Two of the credit bureaus automatically deleted the account and on TU I disputed the account as too old to be on my file.

Now we are working with a lender on refinancing again and so far everything looks good!! Keep us in the loop as things progress with your situation, this is a very common circumstance that many are going through right now. We filed taxes as normal and got a letter from the new payday loan companies IRS stating that they received a 1099c from Ocwen that we did not claim.

We need to file a 982 which I thought was filed by our tax person but it was not. Unfortunately this enters into an entirely new realm when it comes to the options you have. Even though you received a 1099C we have seen that the lenders still hold liens against the property. Why would you have to pay taxes on a debt that has been cancelled but yet there is still a lien against the property that would prevent you from refinancing or would need to be paid off upon the sale of the home.


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This is happening way more often than it should be and I think needs to be addressed with the consumer financial protection bureau. I have already sought out advice from our in house attorney here and they mentioned that the rules are so unclear which has given these lenders the ability to keep the lien against the home. Unfortunately this enters into an entirely new realm when it comes to the options you have. Even though you received a 1099C we have seen that the lenders still hold liens against the property. Why would you have to pay taxes on a debt that has been cancelled but yet there is still a lien against the property that would prevent you from refinancing or would need to be paid off upon the sale of the home. This is happening way more often than it should be and I think needs to be addressed with the consumer financial protection bureau. I have already sought out advice from our in house attorney here and they mentioned that the rules are so unclear which has given these lenders the ability to keep the lien against the home.

Was your tax person actually a paid tax preparer or just someone you know who did your taxes?

It will make a differance if you have to defend this with the IRS. I went through bankruptcy in 2012, and second mortgage still has lein on property but I have not paid anything in almost 3 years. Never recieved any 1099, but my attorney advised me to file form 982 if I did. Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years cash advance loans reviews either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages. They requested my current loan amount personal loans with no credit check or employment verification with 1st mortgage I denied having the information but stated over 100k still owed, almost what we originally financed. But I would make it sound like you are prepared to just walk away from the home rather than tell them you plan to stay. You can also say that you are prepared to wait out the SOL. The comments by me and the materials available at online loans same day deposit this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet.

You should contact your attorney to obtain advice with respect to any particular issue or long term cash loans problem.


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The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Well technically SOL is up, 4 years? Last payment was 2010, one more year and the charge cash advance loans reviews off will be off our credit report. The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem.

The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through cash advance loans reviews this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Update: Nationwide called me today.

I declined and told cash advance loans reviews her that was not even feasible. She requested financial information again and told her again I was only interested in settling. I did say I find it hard to believe the computer can not be bypassed by a manager or someone who would not like to waste my time. She said she will keep an eye on it and keep running it through the computer for a better offer and call me back. I have another question: our mortgage ran a credit supplement from Credco to verify the charge off date per the underwriter. They still seem to think this refinance may happen.