Legit online loans for bad credit
I contacted them and they said they took over the load from countrywide. I explained I filed for bankruptcy and then said I would have to pay it off to remove the lein. I have sent them all the info from my insurance company but still will not remove the insurance fees.
They said I should have sent them my insurance info each year. I tried explaining I had no clue they took over the account from countrywide and never got a call from them.
You are no longer legally liable for the debt, but the bank still has a lien on the property and that lien must be settled or released if you want to sell or refinance. However, you certainly can still negotiate a settlement. The bad news is they know you want to refinance, so probably wont be as willing to accept a low offer. Next, since this was discharged in bankruptcy, they legally cant talk to you about collecting the debt. This loan has fully reached interest maturity at the 4. Obviously, looking back it was my negligence, I was young when filling for the BK and renegotiating the loan modification, legit online loans for bad credit I just wanted to keep my home. I guess I did not understand the full terms of what was going on and that this loan was included in the BK7 but the lender lien would remain on home. Years back, I remember Real Time Solutions calling me to make a settlement offer, and I was skeptical since I never heard of them and could not find them online. I was receiving form creditors I wanted them to mail me everything in writing. I only received a statement, which did not legit online loans for bad credit justify anything for me to understand their hold on the home and I was sure that this was in my BK 7 and discarded.
I only receive something in the mail from them (statement) about every 6 months. I 24 hour payday loan loans in minutes direct lender had a title company do a search and I guess there are 2 liens on the home. I cannot afford another payment, my expenses are maxed out to the limit, I recently just had a baby.
I have read time is my friend, well, there has definitely been enough time lapsed, per Michigan law this has reached the statue of limitation.
Im in Michigan also, and there is no time limit on property liens. There is a 6 year statue of limitations on debt, but your debt doesnt exist anymore. I wouldnt hire an attorney until after a settlement is payday loans in mobile al reached. They can only take the equity if they pay off the first mortgage holder. Then they own the house and can do whatever they want.
However, you could argue since there is no debt, its simply a lien that they hold, not a loan.
When they acquired the lien, they paid a certain amount based on the discharged loan balance. You can do a free search at your county register of deeds to verify this. Stay current on your 1st mortgage and you will probably never instant payday loans no credit check hear from RTS. However, the lien will need to be released at some point. If you are trying to sell , it certainly will need to be settled. If you are in no hurry to sell, I would just wait it. Contact them once or twice a year and wait for thier reply. Do not call and let them know communication is only by letter. Make the letter short and sweet- stick to the facts.
Im in Michigan also, and there is no time limit on property liens.
There is a 6 year statue of limitations on debt, but your debt doesnt exist anymore.
I wouldnt hire an attorney until after a settlement is reached. They can only take the equity if they pay off the first mortgage holder.
Then they own the house and can do whatever they want. However, you could argue since there is no debt, its simply a lien that they hold, not a loan. When they acquired the lien, they paid a certain amount based on the discharged loan balance.
You can do a free search at your county register of deeds to verify this.
From my research a SOL only restricts collectors from contacting you, it does not release the lien on the home. Since this amount was included and discharged in my BK they cannot attempt to collect. Michigan may have different rules but eventually the lien becomes unenforceable.
It will remain with the property until it is removed.
This is usually done by a mortgage satisfaction, when payoff the balance - but in your case, there is nothing to pay. I would contact a RE lawyer since the SOL is 6 years (for BK7) or 10 years for non-payment in Michigan. They legally cannot come after you for the balance but could try and foreclose - but you have a valid foreclosure defense in the SOL. But again - if you are not planning on selling or doing a refi - why the need to contact them and start a settlement process? Once you decide to sell, you could strip the lien via a court filing. My questions are Liens on property- at this point I am not even sure who appears on property for lien is it RTR or AWL(original lender)—how can I pull title on property to verify liens? Doing some reasearch on web about RTR and BofA I ran across an article where in July of 2018 a class action suit was filed in orange county california where B of A was sued over countrywides 2nd mortages and RTR was also named as a defendant in lawsuit-I cant seem to find any details or related articles about this law suit-does anyone have any info on this or immediate payday loans know where I can find info?
Is it best to talk to either real estate attorney or bk attorney to discuss 2nd before re-fi? I do have equity in property dont want to raise any red flags to where I can potentially lose my home because of not paying on 2nd mortgage.... When they do the title search, they will come across the 2nd lien and that will need to be taken care of. You could reach out to a RE lawyer to find out what the SOL is CA. The BK7 gives you more leverage as technically there is no mortgage and they do lose the ability to enforce the lien at some point. Each state is different but the SOL will come into play at some point. From my research a SOL only restricts collectors from contacting you, it does not release the lien on the home. Since this amount legit online loans for bad credit was included and discharged in my BK they cannot attempt to collect.
But as I said earlier, if you do contact them, simply make an offer and nothing else. Ive been in similiar situation in Michigan for about 8 years now. There best loan companies may be an advantage to having a real estate attorney look at this, but probably not until you are ready to sell or refi. They are not like unsecured debt , which does have a SOL in Michigan. The value of the loan when its discharged in BK is ZERO. They can never collect on the debt, but could foreclose because they hold the lien.
I had an excellent BK lawyer who explained everything idaho payday loans to me and it turns out he was right about everything so far. Once a year, verify with your county register of deeds, who actually holds the best unsecured personal loan lien because they can be assigned or transferred without notice to you.
Do not give out any financial info like yearly salary, where you work, balance on 1st mortgage etc...