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About cdmosaic

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  1. Thanks all, this will be my next effort, to write both!
  2. Specialized Loan Servicing issued the 1099C and there is no code on it, that box is blank. I assume they bought the loan from HomEq, but I was never notified of that fact, they just starting sending me stuff one year after the foreclosure. SLS is not reporting on my CR. I have a loan doc from Saxon that says they took over my loan in 2005 from the original lender and to send my payments to HomEq. At the time I thought they were the same entity, so that is why it is bugging me that they are reporting two separate loans on my CR. I feel like I'm getting dinged twice and they both show on the CR, transferred with zero balance and 120 days late. It is just annoying as I'd like to improve my score a bit more but it has stayed ho hum for the past 5 years with little improvement despite new credit and on time payments. Which is why i'm looking for stuff that isn't accurate to remove. Thanks for all the feedback, it helps.
  3. Oh, sorry I forgot the state info. This is in California and the 2nd was the original purchase money-loan so it is considered non-recourse. As such, I should not have a tax liability on the cancelled debt as the debt was on my primary residence. Or at least that is my understanding. I'm still confused about one thing. If Saxon and/or HomEq sold/transferred the debt to another party (and they did in May 2011) and that new party has cancelled the debt and issued a 1099C (which they have) what consequence could possibly occur to me for disputing the fact that Saxon and HomEq are both reporting the loan on my CR as though they are two different loans instead of the fact that they are the same loan. They sold the debt, so how can they pursue me for a deficiency?
  4. Thanks for the response, I can dispute with the CRA's but can you clarify the "sleeping bear" statement? This loan was part of foreclosure sale in 2010 and in 2011 sold to another lender. Does Saxon or HomEq have any standing at this point to come after me for anything?
  5. So, I spoke with a tax attorney who only confused me more, unfortunately. I'm wondering at this point how to clarify if this 2nd is considered non-recourse? House was primary residence purchased in California in 2005 with 2 loans. 1st for $400k and 2nd for $75k (2nd was used as down payment processed as part of the sale transaction with same lender as 1st). The 1st was refi’d in 2007. The 2nd was never refi’d – so my understanding is the 2nd is a purchase money loan, therefore non-recourse. The house foreclosed in Trustee sale in May 2010. Sold for $245k. Never received a 1099A or C from either the 1st or 2nd. In 2011 the 2nd was sold to another loan service company and they have written of the debt effective 9/2014 (after SOL expired) and issued 1099C, stating that I am personally responsible for the debt. Is there a method to clarify whether or not the 2nd is non-recourse? I took the loan document to an attorney (tax attorney for 1099C issue) and she felt that since there is verbiage in the original 2nd loan Note stating - “each person is fully and personally obligated to keep all promises of this Note” – that this means it is a recourse loan and I am liable for cancelled debt. Does anyone have resources or advice on how to make this determination? I was also told since it is a recourse loan I do not qualify for the Mortgage Debt Forgiveness Act for Federal or State and will have to pay the taxes on this debt. One of my worst nightmares…..this situation never ends.
  6. Thanks for the responses. Just to clarify: There are violations if the notices they send do not contain verbiage about this being a time-barred debt in Calif. That is my understanding from reading the threads - can someone confirm this? As there is no language in the letters about the age of the debt. The CA is Convergent and the Creditor is listed as Galaxy Asset Purchasing LLC. So you recommend sending C&D to both CA and Galaxy, correct? Thanks again.
  7. On all 3 of my CR's there are 2 entires for my 2nd mortgage, with 2 different companies that both show delinquent, but it is the same loan. The house foreclosed in 2010. In 2009 my 2nd mortgage was sold to Saxon Mtg who sent me a letter stating that HomEq would be servicing the loan. On my CR there is negative entry for both Saxon and HomEq as if they are different loans. They have different account numbers but the same open date and same past due payment info, both are marked closed but do not show foreclosure. I'm concerned this is lowering my score. Is this being scored as two delinquent loans instead of 1? How could I determine that and how do I dispute this? Much thanks.
  8. Is there anything I can do to make this go away finally? Every few months I get a dunning letter from a CA regarding a repo from 10/2000. I've written in the past about civil code 1788.1 and then they stop contacting me for awhile and then start up again or sell the debt to another company and we start all over again. Anyway to hit them with some violations so that I can finally stop getting these letters? Any help is much appreciated. Oh, I'm in California so this is way past SOL and no longer on CR.
  9. My primary residence in California completed a trustee sale in 5/2010. The 1st wiped out the 2nd and after the foreclosure I never received any documentation from either the 1st or 2nd again. The issue I now have is with the company that purchased the loan from the 2nd. Please note the 2nd was a purchase money loan therefore non-recourse in Cal. In May of 2011 I receive a mortgage statement from Specialized Loan Servicing, indicating past due payments on my home loan. There was no reference to them taking over the loan from the original lender, no mention that the property had gone through a trustee sale 13 months prior, no threat to pay, just a simple loan statement with the same monthly payment I'd had before but now with 3 years of past due payments owing. I ignored the statement. In July 2014 I receive another mortgage statement, very similar to the one from 5/2011 only now the amount past due is over $49k. They are charging me for monthly payments every month since the default in 10/2008 despite the fact that the house completed a foreclosure sale in 5/2010. Now this notice is beyond the SOL in California and there is no statement or verbiage in the letter about this being a time-barred debt. My question - is this a possible FDCPA violation and if so, is it actionable? One complication for me in this situation is that this month I have received a 1099C from this loan servicer stating cancellation of debt effective 9/2014 and the amount they are claiming is the amount of the original loan from the foreclosure plus 72 months of missed payments and penalties. I'd love to go after this (insert foul language here) people if I can. Any and all help is greatly appreciated. The knowledge on this board has helped me a bunch in the past few years.
  10. Thanks for the advice, I will dispute with CRA next. I read the thread on Rash Curtis, no surprise there, but the hours they list do demonstrate how professional they are as well as the payments accepted! WOW!
  11. HI all, My son leaves for Marine boot camp in two weeks and we ran his credit report to check that everything was in good order before he goes. Unfortunately, there are two collections on his report that I am trying to help him with. Neither of the CR's indicate the OC and neither CA's have sent him any correspondence or attempted to call him. I guess that means the 30-day VOD is null since there has been no initial communication. My question is, what is the best way to handle this? Do we write the CA's first based on the TL info or dispute with the CRA's first? The only info on the TL is that one is a medical bill. If that is accurate than the bill would be from when he was a minor and I should be the responsible party, yet I have no unpaid medical bills for him. Just FYI - he has zero credit. Has no credit cards, no utility bills in his name, no loans of any kind. Never bought anything on credit, period. Also, the CRA's list several different addresses for him, which I intend to dispute. However, as active duty military he has no permanent address at this point. I was thinking of using my PO Box for him, does this make sense? Should we include a copy of his CA ID as proof of identity even though it will have a different address and should we mention he is in the Marines? Thanks for the help.
  12. In my DV to Rash Curtis I stated I had no knowledge of their TL on my CR and requested the details. I have not yet sent anything to the CRA.
  13. Hi all, Been coming to this site for years and have really benefited from all the knowledge so much thanks and happy new year to all. Today's question - I checked my CR last month and found a collection from Rash Curtis with no info on the OC or the complete account number. I sent Rash Curits a DV requesting info on the OC as I have never received anything from them. They responded that they could not find my file with the info provided and requested further info. Problem is I sent them everything I know. I included my name and address along with a copy of the CR that shows the trade line. What do you recommend I do now as I can't think of anything further to send them? Does this prove they can't validate the debt?
  14. I did look for the case on-line or any case with my name in Contra Costa County, (Cal) but nothing shows up. Weird, also checked my credit report - nothing new there. I'll keep checking the court records.
  15. I received a very strange message last week that turned into a really weird call. I'm wondering if anyone has heard of this as I'm not sure what to make of it. The message was from someone named Steve Taylor, calling to inform me that I was being served at the following address (gave an old address for me) the next afternoon and if I would not be home to accept the papers I should call and let them know to avoid a failure to appear. He then left a phone number and case number reference. So I called and was told the company is BMG Litigation. They refused to give me information accept to ask if I knew the following names, one of them was a former landlord. She then explained that I was being served because I was given as a reference in a court matter. She did not ask me for any information and I explained they would be delivering these papers to an incorrect address. Her only reply was they would put the service on hold for 24 hours. My former landlord has no idea what this is regarding and when I googled the phone number I saw several people state the exact same message that I received. Some claimed it was a collection for a past due amount, but if they were trying to track me down than why not explain when they had me on the phone. Any thoughts?