I need a personal loan with bad credit

Yours is a very different situation that leads me to believe after getting denied standing that the only option left was to privately securitize the loan. For one thing, I think that it was private from the start because it was never listed on SEC I found it first on Publication 938 The CWRMBS complaint can function as a sort of securitization primer. Defective Qualified Mortgages must be disposed of from a REMIC within 90 days of discovering its defect.

I spend alot of my time representing children in CPs cases and indigent criminal defendants... Maybe I will start with my own i need a personal loan with bad credit Well its been a while, thought I would give those of you an update who are still going thru the process. Well, we were given a trial period under HAMP and finished the 3 month period in July 2012. Received the perm mod in August to begin payments in September 2012--what a rip-off imo. The trade off is that we now have an escrow account after all these years--which is how we got screwed in the first place. On a very strange note, online personal loans direct lenders bad credit just received a fed-ex from BOA today (they first called and left an automated message stating that something important was coming in the mail via fed-ex and to look for it. Its regarding what they call the GLOBAL MORTGAGE SETTLEMENT. The docs state that we meet the criteria for a modification program as part of a global mortgage settlement. Essentially they want an update of the information we had previously given to BOA for the HAMP mod. What is different in this mod is that apparently (given what the FAQs states in the docs) is that they can dual track the loan for foreclosure--unlike HAMP. Nice to hear from you Midsouth, I always enjoyed your input. Still negotiating with the naked Emperor I see and with better luck than many of us with whom it has turned into a full on war. Solicitations stated that the loan met the criteria for principle reduction. I responded to one of the packages in October 2012 by sending the few docs back in the prepaid and pre-addressed fed-ex package. Called the local number listed on the package in November and finally got ahold of my SPOC (single point of contact)--that was the 1st violation of the consent judgment-BOA SPOC was to contact me as soon as possible. The SPOC did not even know what the consent judgment was. She kept stating that we had already been modified (she was right-under HAMP in September 2012). After putting me on hold, she came back and said she had no docs from me.

Got ahold of someone else and was informed that quick cash loans no credit check SPOC was no longer with BOA and I have a new one.

Same day talked to him and found out that only some of the stuff I faxed the 1st SPOC made it into the file.

In 1st week of January 2013 I call and he says the file has cleared underwriting and is with the investor (allegedly BONY). I question why is the file with the alleged investor when the investor has given i need a personal loan with bad credit that authority to servicer BOA.


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SPOC says it will take 30-60 days with the investor. I research the consent judgment for BOA and guess what?? I keep trying to get ahold of SPOC and finally this evening he answers the phone. I explain to him (calmly I might add) that the term investor is a very specific term as opposed to servicer and that it is at best misleading and at worst outright false. He tells me that my file is at some unknown location to him within another department within BOA. Finally got thru to CRM (Customer relations Manager) later that morning. I immediately requested a copy of the recording for my records-CRM indicated no one had ever requested that before and would have to ask if I could get a copy. CRM will now be the SPOC and has to call me every 2 business days with updates. Apparently, the file was verified (aka processed thru the underwriter) on December 31, 2012. CRM indicated that the next step after the verification process was that the file was sent to TELEMAC (sic) which CRM advised is a system in which a formula is used to complete the final decision. The file has been in this step since December 31st. She states that our loan is not qualified under the Consent Judgment. I have condensed a 40 minute conversation down to a few bullets for all the various reasons she gave me.

Once she explained one reason and I responded, she then gave another reason and so on... She said that she had an answer as to why my loan was not put in the TELEMAC thingy after the verification process was completed on December 31, 2012. Below are the condensed reasons CSM said we did not qualify: 1. We had already accepted HAMP before the consent judgment came out in April 2012. We were not delinquent 120 days when BOA did the verification process in December 2012. Even if we could be reviewed under the consent judgment, that we probably would not qualify anyway. I also requested a written denial specifically outlining why we were denied. She unsecured personal loans bad credit no guarantor said she could send me a general denial right away. I explained that a general denial would not give me the needed information in order to appeal. I also explained that according to the Consent Judgment BOA is not to refer the loan to foreclosure during this process.

I told her that she is not to tell this to customers (i. Her response was that she is not telling us to do this... The SPOC listed above left BOA and I went thru a series of SPOC (within the OOP (CEO--about 4 i need a personal loan with bad credit different ones)). Finally, in in the middle of May 2013 received 2 separate denials for the DOJ settlement signed by the Judge in April 2012.

So, I talked to someone with BOA Intake for denials. She told me she would contact me via fax if she needed anything to complete the appeal. She never contacted me again and about 1 week later I received 2 fed ex acknowledging receipt of my appeal (which I never did write anything? By the end of May and beginning of June 2013 I received 2 separate denials of my appeal.


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The denial made by BOa is listed in the settlement for those customers who are potentially eligible for the settlement gives the criteria. Also, even though it does not apply, I see this as a slippery slope for BOA to wait until zillow or some other random evaluation shows the value has increased and use that to deny people. I do not think that was the spirit of the settlement. I say, if it is necessary to be delinquent on January 2012, then BOA should use that month or the month before to calculate the home value. I made a complaint with the monitor (again) and found out that things must have changed since my first complaint. Now, when you make a complaint it actually transfers you from the monitor website to the Consumer protection.... I received an auto email stating that the complaint was being forwarded to BOA. I never knew about the DOJ settlement until about a week after I sent the final mod docs in and then started receiving a whole bunch of communication (fed ex reg mail.

But for those of you who were put into HAMP or some other mod, without benefit of being evaluated under the DOJ, (i.

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. First of all let me say that this is the ONLY forum with accurate information. We live in Missouri and as of Feb 1 we will a full 60 days late with BOA. With the cost of living increasing and no increases in pay and my employer now taking money from my check for health insurance we are struggling to make our payment.

We have faxed all of the required docs to BOA and are now waiting to get an answer. I think the only way we can afford the house would be with a principal reduction. They have had our completed paperwork for about a week. We filed Chapter 7 before the first mod in 2010---does that affect anything? BOA has to advertise the FC for four weeks in the newspaper and then they can sell the house. The worst thing is not knowing the time frame for having to move. At the end of the 4 week service by publication, service of the notice of trustee sale (NOTS) is deemed complete.

The borrower will than have at least 21 days (in my state) before a trustee sale can be held. 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.

Thought at the time that it was a pretty safe investment. It is listed as my 2nd home but was acturally purchased as a primary home for my son. Subsequently, Bank of America acquirred the loans when all that actual payday lenders went down, and then, two years later sold the first to Green Tree Financial, but held on to the Heloc. There have been no offers and no lookers in more than two years...

We have now stopped paying all mortgages and HOA dues and will go into default Aug. Other options such as refianace, Short-sale, DIL etc. I think, after reading many posts, that it is highly unlikely that the bank will want this condo back at all, or at least for a very long time. Additionally, considering all the HOA problems, sale is also 1. Since both mortgages were taken out at the same time for the sole purpose of purchase, do they both come under Washington State non-recourse laws? The HOA, at a recent meeting, has decided not to foreclose on any of the units in arrears. No one could have predicted that the economy was going to crash almost immediately after he moved in.. Since both mortgages were taken out at the same time for the sole purpose of purchase, do they both come under Washington State non-recourse laws?

Yes, since the loan are purchase money they will fall under the non-recourse statutes. In Washington, almost every residential foreclosure is being foreclosed on using the non-judicial foreclosure process and going this route your loans will be considered non-recourse which the lender will not be able to pursue a deficiency judgement against you. Here is a great thread with this same discussion and members here who have went over the scenario with multiple WA attorneys.

The judicial process of foreclosure, which involves filing a lawsuit to i need a personal loan with bad credit obtain a court order to foreclose, is used when no power of sale is present in the mortgage or deed of trust.

Generally, after the court declares a foreclosure, the property will be auctioned off to the highest bidder.

A power of sale clause is the clause in a deed of trust or mortgage, in which the borrower pre-authorizes the sale of property to pay off the balance on a loan in the event of the their default. In deeds of trust or mortgages where a power of sale exists, the power given to the lender to sell the property may instant money online be executed by the lender or their representative, typically referred to as the trustee. Regulations for this type of foreclosure process are outlined below in the Power of desperate need of money Sale Foreclosure Guidelines. If the non-judicial foreclosure process is used by the lender, then it cannot sue for a deficiency judgment. On judicial foreclosure sales, the borrower can be sued for a deficiency, unless the property is found to be abandoned for six (6) months before the decree of foreclosure. 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.