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Equity should not be a problem in determining whether you get a modification. Just like if you defaulted within the first year of the loan, applying for a hardship program is going to trigger a Fraud Review by the original lender, and servicer of the loan. They are going to re-underwrite it, look at all the documentation submitted, and try to see where it all went wrong.

If a loan officer or realtor lied about your income, in the application - someone may very well get into trouble. To answer your main concern, the LTV will be a factor in some of the decision making, among many. I will say, this loan may be more difficult to modify, just because there will be a definite loss. I was hoping to do something similar easy pay direct lender day loans in a future modification. There was no lying about income, but I have student loans that required me to have a co-signer.

The co-signer, however, does not live in the property or pay any of the mortgage and everyone was aware of that at the time of purchase - the property is listed as right of survivorship and not as tenants in common because I am single and had a family member co-sign with me.

Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages. I had to post here because this Loansafe website has a technical glitch that Moe and Erik are attempting to fix. I payday loans wanted to answer questions that were asked of me, in order to help others as they have helped me.

LONG post here but i think the timeline may be helpful to others.

Business trauma resulted in personal Chap 7 BK which discharged 2013.

Jan 2013, they sent letter requesting financials to consider our settlement offer. I kept insisting we try to settle lump sum or nothing.

Shocked and excited (but not letting her know) I felt we had a breakthrough.

I again said, you have access to all our financials through the Chp7 filing.

He noted my file as such and then suggested I start making payments to show good faith and then Chase may agree to lower settlement offer. May 2016- Chase responds letting us know our 1st is actually owned by Deutche Bank, and our 2nd is owned payday loans up to 5000 by Chase. Did we expose something when asking about the actual note holders? Could it be the combination of everything in our timeline? Any feedback or comments could really be gold for others. Filed chapter 7 and have kept current on 1st but stopped paying on 2nd three years ago. They contact me about every 6 months, sometimes by phone other times in writing.

I have sent them letters that they may contact me with settlement offers only in writing.

I see that your situation went on for about 7 years. I am in no hurry to sell my home, so I will keep waiting. However, there is always the chance personal loans in ri they may try to foreclose some day as my 1st mortgage balance keeps getting lower. Looks like the strategy of limited communication, making low settlement offers and not appearing eager to settle is quick loans in ga still working in 2019. Then after x many years, you must release the lien or face additional fines etc.

I remember this clearly because my home was NOT in the shaded areas. The second probably messed up something during the transactions.. Or direct lender somebody working in those departments just felt like helping someone.. Again, anyone out there that may have a clue cash advance or opinion, please share!! Just received a DM from someone in NY that recently got their second released, with a very similar timeline and equity.

Again, anyone out there that may have a clue or opinion, please share!! I believe no doc loan that Chase is probably getting a huge tax credit, or... Another member on here, had a Fannie Mae loan that was purchased by Goldman Sachs, and used to fulfill a RMBS settlement. I believe that Chase is probably getting a huge tax credit, or... Another member on here, had a Fannie Mae loan that was purchased by Goldman Sachs, and used to fulfill a RMBS settlement. Every year they , SLS, send us a threatening letter then nothing. This year their letter threatened foreclosure so I called them. I talked to Aturo and told him we want to keep our home and ask for a payoff. Tonight I got another call from Autor and I hung up on him. This, in their minds, equates to less money SLS may need to spend to bring the house up to sellable condition if they foreclose. The more money SLS estimates it will need to foreclose, rehab and re-sell, the less likely they will actually do it. Also, think about what message you are sending them when you request a payoff. Was just reading this thread and decided to go to my county recorders website and see if anything was going on. I stopped paying my HELOC with Chase in 2011 direct lender after Chapter 7 BR. I tried to negotiate with them with the standard offers used successfully here but was only direct lender robo called for my trouble so I had to send them a cease and desist.

To my extreme surprise, today, I found that over a year ago, Chase released the lien on my house. Thanks for this forum and all who have responded and attempted to help. Hopefully others will also discover similar results, or at least use the negotiating tips and strategies that work. So happy for you and this makes me feel great too, thinking that maybe my story helped you in a small way too.

Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages. We have just launched a new product to help people gain equity faster through our program called Wealth-Builder. This program requires however you will want to review the requirements below.

There is no equity or profit sharing in this loan, it is simply designed for you to build equity faster through a shorter-term loan. We have determined that this product is less risky which is why we have opened it up to the public. This program is not available in all 50 states, I have listed the ineligible states below. Anything outside of the states mentioned are good to go!

MGIC is the MI provider for these loans and also provided at a discount. Assuming some market appreciation - and the principle paydown, someone could easily refinance this after two years to drop the PMI, and get a lower payment with a 30yr Fixed. You know me, I like to educate everyone on the new goodies that come to the marketplace. Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages. Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages. Was just reading this thread and decided to go to my county recorders website and see if anything was going on. I stopped paying my HELOC with best personal loan Chase in 2011 after Chapter 7 BR. I tried to negotiate with them with the standard offers used payday loans online direct lenders no credit check successfully here but was only robo called for my trouble so I had to send them a cease and desist. To my extreme surprise, today, I found that over a year ago, Chase released the lien on my house. Thanks for this forum and all who have responded and attempted to help. If you have a property tax statement, all the info is on it. Some county recorders allow an online search, others require you to go to their offices in person.

The reason I say that is I see posts here where there is a lot of communication and repeated settlement attempts by borrowers with the lenders. It was an interest only loan and had a balloon payment at the end of the 10 yrs. The lien is under BOA but it was charged off in 2017 and sold to a collection agency. Well, two collection agencies as we have received letters from two different ones. Obviously no teletrack payday loans we have declined and the conversations never go anywhere after that.

The last conversation we had with one of them was to tell them not to contact us unless they want to settle and that if they are so interested in the house they can come and get it.

We would like to eventually move but the cheap payment (which the first is an adjustable interest rate too, ugh) is keeping us here. It was an interest only loan and had a balloon payment at the end of the 10 yrs. The lien is under BOA but it was charged off in 2017 and sold to a collection agency. Well, two collection agencies as we have received letters from two different ones. Obviously we have declined and the conversations never go anywhere after that.

The last conversation we had with one of them was to tell them not to contact us unless they want to settle and that if they are so interested in the house they direct lender can come and get it. We would like to eventually move but the cheap payment (which the first is an adjustable interest rate too, ugh) is keeping us here. Stop paying is a lot differant than discharged in bankruptcy. Bankruptcy allows you to walk away and not be responsible for the debt.

Simply not paying allows debt collectors to come after you for years to collect the debt.

Debts discharged in bankruptcy are not collectable, though a mortgage lien can be assigned to a debt collector (which is what happened to me) Check with your county register of deeds to make sure BOA still holds the lien. If they do, deal directly with them as they are direct lender the only ones who can release it. If you settle the debt with a debt collector, you may not get the lien released. If you get the lien released, you may still owe the debt. Again, though, do the math yourself to see if you are even in a negotiating position. Basically, lenders look at your current home value (see Zillow or Realtor. Again, though, do the math yourself to see if you are even in a negotiating position. Basically, lenders look at your current home value (see Zillow or Realtor.

I am aware that the debt still remains even after the charge off. We had two different collection agencies trying to collect from us for the same debt and that is why I want to know if it would be better to negotiate with BOA. They all want financials and say they have been engaged by BOA.

The first mortgage is around 127k, the second was 37K and there are repairs that need to be made. Last month a house in the same row as ours in better condition sold for 187. Zillow has ours valued at 190 but no way that is accurate.