Bad credit history

Chapter 7 DOES NOT in any way, shape or form, strip off any part of a properly recorded consensual lien against real property. While the lender cannot ask you to pay, it can simply refuse to release its lien if not paid the full amount owed under the promissory note you signed. I know they have the lien, but after reading more of this forum and other internet sites, it appears second mortgage holders very seldom will start foresclosure proceedings. Seems like after bankruptcy, lien holders only collect if 1st mortgage forecloses or house is sold. Of payday loans compare course with the usual bankruptcy language that they nevada payday loans are not trying to collect a debt.... But today I did recieve a letter from Citi about the Service Members Civil Relief Act. Provided a couple of numbers to call, but I am not bad credit history bad credit history a member or former member of the military.

So it looks like at least someone at Citi knows Im late. The letter did provide an address to contact CitiMortgage which I had not seen before: buy now pay later bad credit Im thinking about sending a letter to them next week. Just a very short yes you may contact me about this debt letter. I plan on following the strategy in bad credit history the forum about settling your second mortgage, so will not provide any financial info. Well, month number 3 and nothing new from CitiMortgage. Recieved my regular statement in the mail today and noticed something funny. The total balance has not changed since I stopped paying 3 months ago. Ive saved all the statements and even though I have not made a payment for 3 months, the balance is the same for June, July and August. Really want to send them a settlement letter offer, but following the advice of the forum and waiting until they contact me. Also did some research for foreclosure in Michigan and found out that I have a year after foreclosure proceedings begin before you are basically forced out of your home by sheriff sale. Sound scary, but a sheriff doesnt actually show up at your house and kick you out. Really want to send them a settlement letter offer, but following the advice of the forum and waiting until they contact me. Also did some research for foreclosure in Michigan and found out that I have a year after foreclosure proceedings begin before you are basically forced out of your home by sheriff sale. Sound scary, but a sheriff doesnt actually show up at your house and kick you out. Just a quick note what credit score is needed for a personal loan about BK7 and being contacted by the mortgage holder - they legally can not contact you unless have given them permission.

You have to send them a letter that is ok to contact you regarding the debt. It all depends on how they view you and what the finances are of your situation (are you underwater? Latest statement just shows late payments due, but no interest or added fees.

Balance has not changed on any of the statements, still shows original balance due from June statement. Since this loan was discharged in ch7 bankruptcy, was going to send them a letter to contact me about settling the lien, but decided not to. Sticking to the advice in this forum and will wait for them to contact me for now.

Since this debt has been discharged, Im only concerned with getting the lien released.

First mortgage and second is now bad credit history just below market value, so I doubt if second would start foreclosure anyway. However, I did recieve a letter from Citi with options.

Looks like a standard form letter with options for: It also has the usual not an attempt to collect a debt wording. It does say my loan has been assigned to the Home Support Team and they would like to work with me on a hardship option.

Unfortunately, I realize now that it will be impossible to repay this loan, maintain the house and keep property taxes and utilities current.

I made repeated calls after bankruptcy, in 2012, 2013 and 2014 to settle this loan and release the lien.

Since I was not behind on payments, I was told each time that there was nothing available. My offer to settle is based on my payments after bankruptcy and the fact that this loan has been discharged. This post covered the last 6 months from non payment of mortgage until contact from citi. 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. On the advice of our accountant, and also went along with what was posted here, we walked away from our HELOC at CitiMortgage. My heart stopped - I thought perhaps they were pursuing foreclosure as our property value has increased somewhat. It goes on to say the lien will be released, and we may be required to report this amount as income on our tax return. Obviously we will be contacting our accountant, but does anyone have any experience with this?

Im in similair situation , but my second mortgage with citi cash advance raleigh nc was discharged in Chapter 7. Your accountant online loan company can tell you more about what you can use to reduce your income, but generally, the expense needs to be in the year it was incurred.


Personal loan with low interest rate

Your credit prob wont get any worse since it already shows up as a charge off. You prob cant pay it, but contact IRS and work out a payment plan. Yes, you can have write-offs, but they will need to be documented and provable. 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.

Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem.

The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Part II - The Mortgage Satisfaction Letter arrived today! Would that mean I have a whole year to plan for this 1099?

I thought if it came at all, it would be dated year end 2017 and we would receive the 1099 for 2017.

I sent a copy to my lawyer and she said it looks like a valid mortgage satisfaction. I got one at Christmas time around 2013, just after we filed BK. Of course the 2nd mortgage could not contact us as the 2nd was discharged in BK, however we knew that they could foreclose if they wanted to, and like you, this is what we thought they were planning (in our case it was a phone call from the 2nd). I of course called them back to let them know that they would be in trouble for contacting us after BK, but I was going to also give them an FYI that if they wanted to foreclose, they could do what they had to do.

Imagine my shock when the Rep said they were calling to let me know the loan was forgiven and papers would be sent shortly! I got one at Christmas time around 2013, just after we filed BK. Of course the 2nd mortgage could not contact us as the 2nd was discharged in BK, however we knew that they could foreclose if they wanted to, and like you, this is what we thought they were planning (in our case it was a phone call from the 2nd).

I of course called them back to let them know that they would be in trouble for contacting us after BK, but I was going to also give them an FYI that if they wanted to foreclose, they could do what they had to do. Imagine my shock when the Rep said they were calling to let me know the loan was forgiven and papers would be sent shortly! Since the house was underwater, there was no money to be made from foreclosing. I may be using the wrong term -- perhaps I should say extinguished?

Since the house was underwater, there was no money to be made from foreclosing.

It was our original HELOC document with CANCELLED stamped in red, and the original recording from our County Clerks office - also stamped CANCELLED. And still confused about the conflicting dates - if it will be considered written off in 2017 or 2018? I had payday loans in florida a couple forgiven back in the day, although the Mortgage forgiveness act was still in effect about 6 years ago. 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. Background: Filed bankruptcy 2012 and discharged 1st and 2nd mortgage. Did not reaffirm and continued to make payments to stay in house. Still current on first but stopped paying on second in May 2017. Letter gave contact info for homeowner support team, phone and email. Unfortunately, I realize now that it will be impossible to repay this loan, maintain the house and keep property taxes and utilities current.

I made repeated calls after bankruptcy, in 2012, 2013 and 2014 to settle this loan and release the lien. Since I was not behind on payments, I was told each time that there was nothing available. My offer to settle is based on my payments after bankruptcy and the fact that this loan has been discharged. Citi has assigned me to the Executive Response Unit. Somehow they must of still had my phone number because she left a message today also with an email. Her email focused on refinancing my second mortgage through Making Home Affordable program.

Also asked for paystubs, last two years tax returns, etc...

Sticking to the plan of settling the second mortage and release the lien. I kept my reply email short and to the point: Thank you for your attention to this matter. Please review my settlement offer and reply by mail or email only. Thanks for sharing your settlement story and opening a new thread to educate other LoanSafe members.

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.

Most of the information you find here is easily available on the internet.