Loans for poor people
Before I sent in my authorization letter for them to be able to speak to my lawyer, they spoke to him and even emailed him a letter that they sent to me back in 2009? I thought there were very strict laws for whom they could talk to about my account...?? Friday they sent me a 2 page letter from 2009 from RTR to me just stating that they were taking over collections on my account.
In that letter they say Due to your bankruptcy you will not be receiving statements... This is probably why I never received one statement in 10 yrs... Then today they send a 1 page letter that Countrywide sent me in 2009 just stating that they were transferring my account to RTR. Sounds like they do not have anything in writing showing they purchased my specific loan. Do they need to be able to loans for poor people show this or does MERS cover this for them? I last posted to this forum in 2015 when I was looking at a refi on my primary residence. Since then, I have relocated to another state and things have been quiet. I had let (2) rental properties go in 2009 with the sheriffs sale in 2010. Both had SOJL and I have had 0 contact with them since. I resolved the 1099-C from the primaries through insolvency shortly after the sale. I low cost payday loans recently received a 1099-C from Real Time Resolutions for one of them. Should I challenge RTR to prove that they actualy own the debt and go through that process?
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. So I was a success story a while back on a loan mod. Short version, loans for poor people back in 2010 we declared Chap 7 and everything was discharged. I have not made a payment on my HELOC in about 9 years and have never heard from them as they can not contact me on the debt but never tried to foreclose. So every once in a while I think about the HELOC mainly because 1. I would like to clear it from hanging over my head, 2.
I do have equity in my home at this point, owe maybe 155k on 1st (not reaffirmed) and about 30k on HELOC with the home maybe worth 210k. I do not have 30k to pay off the HELOC so I have hesitated contacting as I dont want them to try to foreclose and want to keep the home.
I also never contact them first to talk about a settlement, I just respond to their letters. Im starting to slowly build equity in my home also, so I know it wont be long and they will probably get more aggressive. However, I have no need to sell or refinance so I dont really need to initiate any settlement discussions at this point. Yeah, I also worry about poking the bear too but it has been 9 years and no one has ever attempted to settle with me. I also worry about getting a foreclosure notice demanding the full 30K I owe which I couldnt pay.
I feel like after 9 years I may never get an offer to settle unless I initiate it.
Yeah, I also worry about poking the bear too but it has been 9 years and no one has ever attempted to settle with me. I also worry about getting a foreclosure notice demanding the full 30K I owe which I couldnt pay. I feel like after 9 years I may never get an offer to settle unless I initiate it. First, go to your county register of deeds and see who holds the lien for the property. It may still be the original lender, but could of been sold or assigned.
A few people on here have been surprised to find out that when they went to the county register of deeds, the liens had been released years earlier with no explanation. BofA was sending monthly statements to me, up until 2014 or so, and has stopped since. Last company I received a statement from was USAA the issuer but that was around the time of my BK so about 9 years ago.
I actually called them the Jan after my BK asking about my interest tax statement and was informed that the HELOC was discharged and while the lien still existed it was not accruing any interest or fees. I stopped worrying about it then until the past 2 years when I wanted to refi.
Everything I heard says USAA loans for poor people isnt easy to deal with and I doubt they just released the lien but I will check.
Payday loans in az
After six months, or a year in some cases, some servicers charge off home equity lines as uncollectible , and interest stops occurring.
The lien still exists against the property, but, it allows the bank to mark down the debt -- no longer as a asset on the books, and collect a tax write off. The money is still owed, but no more interest, or fees accrue. My second mortgage loan was discharged in chapter 7 and there is still a lien against the property. Citimortgage was the original note holder and simply assigned the lien after bankruptcy. So my Chapter 7 discharged in May 2010 and I had a 240K HELOC that was discharged by HSBC. A couple years back I read about some members here getting Lein releases from HSBC. Friday I got brave and called the recovery division in New York that had my loan. I was told it was so old it would take 24 hours to reactivate the data. I was planning on retiring next year loans for poor people and selling and down sizing and buying with the equity. If I have to pay them off then there will be little equity.
So I may just walk and let the 1st forclose then HSBC will get little or nothing So my Chapter 7 discharged in May 2010 lending tree bad credit and I had a 240K HELOC that was discharged by HSBC. A couple years back I read about some members here getting Lein releases from HSBC. Friday I got quick loans online same day brave and called the recovery division in New York that had my loan. I was told it was so old it would take 24 hours to reactivate the data.
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I was planning on retiring next year and selling and down sizing and buying with the equity. If I have to pay them off then there will be little equity. So I may just walk and let the 1st forclose then HSBC will get little or nothing I actually remember your posts!
I guess after a long period of time, they account just become so dormant they take these accounts completely out of servicing.
Since 2007, the LoanSafe forums have helped millions of homeowners over loans fair credit 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.
To start with, if you intend to keep your house and cannot afford to keep paying both the 1st and 2nd, your priority is to keep your 1st current. However, to achieve a more palatable settlement, the process will require a smart strategy and patience, as it will most likely be a process lasting, at a minimum, six months, but often as long as several years. FYI, many forum members have learned how to deal with lots of incoming collections calls from all sorts of creditors. If, in fact, the debt is sold to a new entity, and you receive a letter from the low interest rates new owner, DO NOT bother sending a debt validation letter. It accomplishes nothing for you, does not affect your legal standing, and is generally a waste of time and effort. Plus, it signals to the debt owner that they have the correct address, and that you, as a debtor, are concerned, stressed, and naive enough to send it. BTW, a new debt owner is required, under the provisions of the FDCPA, to send a letter to the debtor advising them, among other things, of their right to have the debt validated. DO NOT disclose any personal info, to include your plans, and absolutely no financial or employment info.
Needless to say, do not share your goal with the lender.
FYI, settlements are commonly achieved at prices in the range of 5-10 percent of the loan balance.