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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 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 aaa payday loans 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 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. I do not intend to sell the property any time soon, but at some point I will have the 1st loan paid off and I do not want them to be able to foreclose.

Are there samples within this form available to view? Liens do expire (eventually) and you could strip the lien once your states SOL runs. Liens do expire (eventually) and you could strip the lien once your states SOL runs. From my research a SOL only restricts how do i get a personal loan 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.


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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 personal loans knoxville tn to sell, best online personal loans 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 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 payday loans raleigh nc 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. 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 may be an advantage to having a real estate immediate cash advance 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 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 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... I do not intend to sell the property any time soon, but at some point I will have the 1st loan paid off and I do not want them to be able to foreclose.

Are there samples within this form available to view?

Well, it has been payday loans online direct lenders only a while since I have thought about doing anything.

With everything going on in the world these days, it has been the last thing on my mind. Recently, however I received a letter from RTR providing me with 3 payments options before taking action on lien. Well, it has been a while since I have thought about doing anything. With everything going on in the world these days, it has been the last thing on my mind. Recently, however I received a letter from RTR providing me with 3 payments options before ez payday cash taking action on lien. No dollar value or percentage was presented in the letter, just wanting me to select an option. I guess to open the conversation to see what my intentions are with the home...

Well, it has been a while since I have thought about doing anything. With everything going on in the world these days, it has been the last thing on my mind.

Recently, however I received a letter from RTR payday loans in nc that are legal providing me with 3 payments options before taking action on lien. The more disinterested you appear the better, even hinting you would be fine just walking away. The more disinterested you appear the better, even hinting you would be fine just walking away. They have called and sent letters requesting more financial information, but I always decline with a repeat of the offer only. As you are aware, this loan has been discharged in Chapter 7 bankruptcy in 20XX and is not collectable. In addition, your claim of holding an enforceable lien after bankruptcy may or may not be valid. However, if it is valid, I am willing to make a settlement offer to release the lien and avoid any possible legal expenses to either of us. My financial situation continues to make it difficult to make ends meet. Unfortunately, it will be impossible to repay the original loan amount, maintain the house and keep property taxes and utilities current. I have included a copy of the balance from the original creditor which was submitted during bankruptcy to verify the loan balance. They have called and sent letters requesting more financial information, but I always decline with a repeat of the offer only. As you are aware, this loan has been discharged in Chapter 7 bankruptcy in 20XX and is not collectable. In addition, your payday cash claim of holding an enforceable lien after bankruptcy may or may not be valid. However, if it is valid, I am willing to make a settlement offer to release the lien and avoid any possible legal expenses to either of us.


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My financial situation continues to make it difficult to make ends meet. Unfortunately, it will be impossible to repay the original loan amount, maintain the house and keep property taxes and utilities current. I have included a copy of the balance from the original creditor which was submitted during bankruptcy to verify what is a cash advance the loan balance.

I sent the above letter and received a response from RTR (if you can even call it that). They simply provide a letter response that my dispute to the account is no longer owed due to bankruptcy. They did not even recognize my offer to resolve the lien.

So do I just resend the letter removing the In addition, your claim of holding an enforceable lien after bankruptcy may or may not be valid. I sent the above letter and received a response from RTR (if you can even call it that). They simply provide a letter response that my dispute to the account is no longer owed due to bankruptcy. They did not even recognize my offer to resolve the lien. So do I just resend the letter payday cash removing the In addition, your claim of holding an enforceable lien after bankruptcy may or may not be valid. You payday cash submitted an offer and they basically did not respond to it. If you want to send another letter, include a copy of their original letter reminding them of the payment options they gave you. Do it by registered mail so you can verify it was received. Verify that the second mortgage was discharged in bankruptcy. Since this was a second mortgage, foreclosure is unlikely.

Yes, they could foreclose, but would also have to pay off the 1st mortgage. You are Michigan and so am I, so we have very similar experiences. I did not payday cash modify my first mortgage but stay current and have not paid on the second.

In 8 years I have never received any foreclosure notices. A letter once a year shows that you are willing to settle and it is payday cash up to them to counter offer. Keep current on your 1st mortgage and unless you personal loan low interest Get free mortgage help today. 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. Valuation issues: Online estimates says about 415K, jumped up 20K in the past month. House needs foundation repair, new roof, mold remediation, and numerous other repairs just to be a small 1960s rancher with no updates.