Search the Community

Following a Chapter 7 Bankruptcy, Select Loan Servicing added $40k unpaid interest to what they said we owe on a 2nd mortgage. We did not sign a reaffirmation agreement for the 2nd mortgage like we did for the first. The gap is that the 2nd mortgagee cannot come after us personally, they can only come after the property, and the first mortgage has first position. What negotiating tool do we have for pressuring 2nd to reduce the balance due to something manageable? We can wrap the 2nd mortgage into a re-fi and at $39k or less, it's worth it to do that. But at $79k in loan and interest, its not worth it. And yes, we want to stay in the home. Again, any ideas on how to negotiate with servicer for 2nd now? Thanks

Filed Chapter 13 Sep 2011, Bankruptcy Plan Number 8 DIRECT PAYMENTS lists 3 items, Jeep payment $265.36 WF Home mortgage (1stMortgage) $1,553.24 Wells Fargo Bank (2nd Mortgage) $275.00 These are the payments setup and ordered by the court for us to make directly to these companies. Got your attention? The first 2 went along just fine, Jeep paid off, 1st Mortgage ongoing @ 9% interest, 2nd mortgage paid $275.00 as ordered. We paid for 15 straight months, last payment was Dec 2012, so in Jan 2013 WF Charged the account off. No notification just Charged it off. Total payments due for those 15 months as ordered by the court amounted to $4,125.00 total amount of payments made during same 15 months $4,105.00 . (See Redacted payments 2nd mortgage 2016-12-23-091341 document attached) and (REDACTED Chapter 13 Plan 2016-12-23) So question is how could they charge this off and then why are they now reporting it to the Credit Bureaus as overdue $3,303.00. We tried to refinance with WF, got a resounding "No" , Since Aug 2016 I have been communicating with WF, I have received 41 letters some the exact same letter twice in one day, the subjects range in no specific order (Acknowledgements, Response to Inquiry, Update to inquiry, Payoff, Resolution, Status Update), we get weekly phone calls with no new update but letting us know they need 2 more weeks, 2 more weeks, 2 more weeks. (See Wells Fargo Letter Tracking Document) . So what are my options here? They will not send us a bill, we can not refinance because they report this overdue, they claim the account went into default 1 Sep 2011 before the bankruptcy?? They claimed over the phone with the Credit company that the last payment was Oct 2012. Yeah right. The last 3 letters received this week on Monday says a resolution by maybe Dec 29th or Dec 30th, I am holding my breathe... What are my options, they are obviously caught in a mess with disobeying a Court Order and Charging off the account without merit. WellsFargoLetterTrackingSheet.xlsx redacted payments 2nd mortgage2016-12-23-091341.pdf REDACTED Chapter 13 Plan2016-12-23-092308.pdf

I tried to short sale my Florida property for over a year and at the last minute the bank decided they would receive more at auction and send my property to foreclosure. I hired an attorney who was able to settle with the 1st mortgage holder with in rem summary judgment. That was in 2013. I am currently receiving phone calls from second mortgage holder for collections. Why after 3 years are they coming after me for collections? What, if anything can I do? I don't have the property anymore and I don't have the money to pay off the second mortgage.

Hi folks, I origionally posted this in Is there a lawyer in the house, I thought this might be a better forum. It's been a while since I've posted here, but the following has me somewhat confused. I have tried to explain the details to the best of my ability, and I would really appreciate some input on your thoughts and what to do next. Our primary residence is in Foreclosure with an attorney handling the case on our behalf. It seems to be in a stalemate position at the moment. I received a letter from another attorney/debt collector regarding the 2nd Mortgage/HELOC on the property, I have sent the letter over to my attorney for their files. I sent the attorney/debt collector a debt vaidation letter, to which they first replied with an Affidavit of Debt as debt validation (it is written on the top of the Affidavit) also the affidavit is marked "Exhibit A" although there was no other paperwork/documents supplied. They have not filed a law suit in this case. I would like to mention at this time that I have also checked my current credit report which states that the account is CLOSED. In our debt validation letter there is a paraghraph regarding arbitration. It reads....If the alleged agreement has any arbitration clause that waives your litigation rights over this alleged debt, I hereby envoke it, elect arbitration,and waive (banks name here) and it's assignees right to litigate in this matter, per the underlying arbitration clause. The Banks Attorneys have now sent me a AAA supplementary procedures for consumer-related disputes form which they have filled out, IN MY NAME, and paid a $1500.00 fee. It is marked as a request of the consumer on the form. There is no signature on the form from me and I have not contacted AAA to request arbitration. My question is: Can they file an arbitration request in my name without my permision? All I have said is that I want to envoke the arbitration clause? Also does anyone know if Florida is a Security First State? Many thanks for you help and advise. Mick.

Hi folks, It's been a while since I've posted here, but the following has me somewhat confused. I have tried to explain the details to the best of my ability, and I would really appreciate some input on your thoughts and what to do next. Our primary residence is in Foreclosure with an attorney handling the case on our behalf. It seems to be in a stalemate position at the moment. I received a letter from another attorney/debt collector regarding the 2nd Mortgage/HELOC on the property, I have sent the letter over to my attorney for their files. I sent the attorney/debt collector a debt vaidation letter, to which they first replied with an Affidavit of Debt as debt validation (it is written on the top of the Affidavit) also the affidavit is marked "Exhibit A" although there was no other paperwork/documents supplied. They have not filed a law suit in this case. I would like to mention at this time that I have also checked my current credit report which states that the account is CLOSED. In our debt validation letter there is a paraghraph regarding arbitration. It reads....If the alleged agreement has any arbitration clause that waives your litigation rights over this alleged debt, I hereby envoke it, elect arbitration,and waive (banks name here) and it's assignees right to litigate in this matter, per the underlying arbitration clause. The Banks Attorneys have now sent me a AAA supplementary procedures for consumer-related disputes form which they have filled out, IN MY NAME, and paid a $1500.00 fee. It is marked as a request of the consumer on the form. There is no signature on the form from me and I have not contacted AAA to request arbitration. My question is: Can they file an arbitration request in my name without my permision? All I have said is that I want to envoke the arbitration clause? Also does anyone know if Florida is a Security First State? Many thanks for you help and advise. Mick.