Unsecured loan company

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 was non payday loans for bad credit 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 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 loan with bad credit history 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 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 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 unsecured loan company the home...


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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 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 how to get loan with bad credit 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 payday loan direct lender no credit check 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 payday loans in san antonio 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 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 emergency cash loan which was submitted during bankruptcy to verify 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.


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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.

You submitted an offer unsecured loan company 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 unsecured loan company 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 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 up to them to counter offer. Keep current on your 1st mortgage and unless you 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, payday loans new jersey new roof, mold remediation, and numerous other repairs just to be a small 1960s rancher with no updates. The house will most likely go into foreclosure or short sale and would be bought by an investor who would tear it down, split the property into two lots, build two houses, just like every other older property in my neighborhood. Equity loan was discharged and passed time limit to take any action, but they still hold a lien on the property. Ex refinanced to include his debt (motorcycle and credit) shortly after. I unsecured loan company was able to pay the 1st mortgage until about 2015. I tried a business but failed and have been unable to find work. It is possible, with my new income, to do a loan modification on the 1st mortgage but I would need the lien released first. Wells Fargo was about to foreclose but the unsecured loan company loan is in COVID forbearance for up to a year so I have about that long for a settlement. It would be like buying a 370K lot in an area where you can get waterfront for that.

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. The house will most likely go into foreclosure or short sale and would be bought by an investor who would tear it down, split the property into two lots, build two houses, just like every other older property in my neighborhood. Equity loan was discharged and passed time limit to take any action, but they still hold a lien on the property. Ex refinanced to include his debt (motorcycle and credit) shortly after. I was able to pay the 1st mortgage until about 2015.

I tried a business but failed and have been unable to find work. It is possible, with my new income, to do a loan modification on the 1st mortgage but I would need the lien released first. Wells Fargo was about to foreclose but the loan is in unsecured loan company COVID forbearance for up to a year so I have about that long for a settlement. It would be like buying a 370K lot in an area where you can get waterfront for that. Were both the first and second mortgage included in the bankruptcy and discharged? If they were, you are under no legal obligation for the debt. Count your blessings for living rent free for five years and use the money you should have saved during that time to purchase another house.

Were both the first and second mortgage included in the bankruptcy and discharged? If they were, you are under no legal obligation for the debt. Count your blessings for living rent free for five years and use the money you should have saved during that time to purchase another house. The 1st mortgage company sent a letter last month saying I needed to make a 170K payment or they would start foreclosure. The house also has a basement apartment that can be used for income if needed - I used to run a childcare or I could use it as a rental. Rentals in this area are higher than the 1st mortgage. So if I could modify the loan, get help fixing things, reopen the day care or rent the room, I could get back on my feet and could be with my kids. The 1st mortgage company sent a letter last month saying I needed to make a 170K payment or they would start foreclosure.

The house also has a basement apartment that can be used for income if needed - I used to run a childcare or I could use it as a rental.