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About gododgers

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    Las Vegas, NV
  1. Hello guys, We are applying for an FHA mortgage, and we have an old second mortgage on our credit for almost 70k that was charged off back in 2012 on there. The lender we are talking with is asking about it, and if we are paying on it. I told her that we are not, and have not payed anything on it since before the house was foreclosed on. As it stands now, the second mortgage is out of the SOL, so I am legally covered, but I am curious if this being on my credit will preclude FHA loan approval? Also, they provided me with a credit report they pulled from Credit Technologies Inc, and there is a page with a "Level one decision, score (model B)," does anyone know what this is, and what the score means? Thanks guys.
  2. Guys, just for clarity. I am still reading many websites, and responses written by attorneys, that state that the SOL for the Second Mortgage Deficiency clock begins ticking on the date of the foreclosure, NOT the date of Default, as the foreclosure was when the second mortgage lost its security. There is a difference of a year between these two dates. I am also seeing posts by attorneys that state it starts when the default happened. Can anyone weigh in on this?
  3. Three total. ..2 are with Progressive Management Solutions, and the last one is Vegas Valley Collections. The wife has one with Aargon. The amounts are very low. All 4 combined equal less than 800 dollars.
  4. Okay. I know all advice states contact JDB through certified mail. I just have one simple question. If I have decided to PAY the items off and with for a PFD, then can I just call them or go to their office and get them to do that all the same, or should it all still be done through mail?
  5. Thanks to both of you for your replies. Yes, the 6 month statute is long passed on the first mortgage. And it sounds like the 6 year has passed on the second mortgage. That was where I was confused, as in my research I was reading that the clock started ticking once the foreclosure was complete and the home was sold. But it looks like my clock started ticking when the DEFAULT was filed, on 5/17/2010, and not when they sold the property almost a year later, correct? That is fantastic. Long road of misery this has been.
  6. Need an attorney's help. State: Nevada Question: When does the statute of limitations begin on second mortgages? We stopped paying on our mortgage in January 2010 when the ARM raised out payments out of reach. "Default and Election to Sell" was filed by the bank on 5/7/2010. "Trustee Deed" was filed on 5/17/2011, over a year later. On the first mortgage, the bank has 6 months to collect on deficiency, time is passed. My question is about when the clock starts ticking on the second mortgage. Is it 1/2/2010 when the last payment was made, is it 5/7/2010 when the default was filed, or is it 5/17/2011 when the trustee deed was filed. The reason I am curious is I hear that second mortgages, now that they have no lein on property, become the same as credit card debt. And doesnt credit card debt SOL begin on the last date of missed payment? Thanks everyone.