China again,

Does the FDCPA also award attorney’s fees and costs for violations?

What does the FDCPA cover? Do all lenders or people who try to collect money have to conform to the FDCPA?

China (more…)

I can no longer handle my mortgage payment, I talked to my lender and all they would do is freeze my current (too high) payment. I have made up my mind to foreclose and start anew.  I can handle my other bills, someone was telling me that a bankruptcy would be better than a foreclosure in the long run down the road to credit repair.  I did not think so, can u shed some light onn my situation and let me know if my credit score will be completely wiped out and how can I start repairing my credit.

thank U,

D (more…)

I have been evicted, had court order to stay eviction as long as rent paid and proof of  my qualification for a loan was presented, did that, evicted me anyway, they want me to buy house back, house is upside down, I want to buy it back, predatory loan, they falsified my income, no loan documents to my mentally disabled daughter who was reuqired to sign her “maiden name” not her legal married name, no guardian present, i only got one copy of unsigned documents from notary, can anyone help me. the TILA violations are legion, i am 66 [64 at signing, filed complaint with california AG over a a year ago, no action from them or FDIC, lender is in california

Kaete (more…)

How can I stop a Florida foreclosure, I read some of the forum and was given this site from a friend, I have been working to get my very high mortgage restuctured and the mortgage company will not responded.

I now have a summons that has to be done b/4 Feb 1st. Not sure where to turn. I have been trying to resolve a issue with the lender still last year when the mortgage was transferred after the 2nd time. within 4 months apart from each other.

I hope someone can answer the question.

My friend is very help with you and your service.

Best Regards
Louise (more…)

Hello Paul,

Thanks for all that you do. I sent a Cease and Desist letter for a 15 year old debt that is way out of the SOL, done this in the past. This time they sold it to another company and after they recieved the C and D they replied in a letter stating “Pursuant to your request, $$$$$$ has ceased phone communication at this time; however for your convenience we will continue sending billing statements and other correspondence as required unless otherwise requested.”

Isnt that a violation do they not understand what a C and D means?

James (more…)

My husband and I were approved for a 179K mortgage back in October based on a Credit Report reading then.  We received a formal letter of approval; however now, as we reach the closing of our newly built home – the latest credit report has lowered our scores. 

We have not obtained new credit but we are being told than (1) unknown inquiry lowered the score and several accounts that were originally showing in collections (stagnant of years) have now increased their balances! How? Can they do that?

A majority of these were over 7 years old.  Our approval is being re-reviewed. 

When we were originally were approved we went and reduced some of our current debt to obtain a more attractive rate, but that that didn’t hasn’t helped.  The increases on collection balances hurt us more. What can we do now?

You’re blog has been very interesting to read. Thanks for helping so many people with your information.

Veronica (more…)

My brother and his family (wife & 2 young children)  are losing their home of 10 years.    The kicker is that he should be able to easily afford it, but is stuck in a terrible ARM that he can’t get out of.   We are in Texas.

He did a cash out refinance about 4 years ago at a time when he had a lot of medical bills (2nd child had heart defect at birth) and was completing his Master’s degree, thinking he would be able to refinance, and wasn’t able as property values dropped.

Over the last few years, he has been trying to work on a refi, mod, even tried to sell the house and do a short sale.  The lender has wracked up close to 20K in fees in the account, and although he is paying $1,500 a month on a 130K mortgage continues to report all payments as late, etc due to old fees from years ago, so his credit is terrible.    His interest rate is at 12.5 %, the loan payoff amount is around 129K.

His mortgage servicer is Ocwen, and he has been told they will refinance, they won’t refinance, they will do a mod, they won’t do a mod, pay this amount, pay that amount, etc. For a long time he was told “they didn’t know who owned his loan”  and that was why they couldn’t work with him.  He was worked 3 jobs trying to pay the amounts requested, but can’t get any sort of fixed rate.  He recently hired a company to negotiate with the lender, they were unsuccessful.   What they have now told him is,

His loan is owned by an “investor.”
The investor will not do a modification.
He must pay $20K in fees immediately or enter into a $2500 a month forebearance plan.

They have offered to do a deed in lieu, so he’s preparing to move into a 2 bedroom apartment which will be $900 a month.   If he had a 6% interest rate his home payment would be under $800, even with the full principle balance!

The loan is now in pre-foreclosure proceedings. 

Are there any options to keep his home?  Are there any options for refinancing through the government, etc, since there are no options with the current lender?  I know he feels that there are no options left, and is giving up.

Sarah (more…)

When a collection agency reports an account to the bureaus the DOLA will change.  Is this considered re-aging and does this changing of the date have any effect on your score?

Russell

I went through a divorce about three years ago. My ex got the house but I remained on the note. She is now six months late on her mortgage payment and it is dragging my credit score lower. I’m currently attempting to refinance my own mortgage but with a credit score in the mid 500′s, I’m not getting anywhere. What, if anything, can I do to get myself removed from this obligation. I doubt my score will get better while I’m on her non-performing mortgage.

Mike (more…)