Comments for Broken Credit Blog -- Mortgage Foreclosure Short Sale Credit Report Loan Modification http://www.brokencredit.com Credit Report, Mortgage Loan, Loan Modification, Short Sale, Foreclosure Thu, 09 Sep 2010 19:10:42 -0700 hourly 1 http://wordpress.org/?v=3.0 Comment on Real Time Resolutions by Kim http://www.brokencredit.com/real-time-resolutions/#comment-57 Kim Thu, 09 Sep 2010 19:10:42 +0000 http://www.brokencredit.com/real-time-resolutions/#comment-57 Yes, I'm currently dealing or going "back and fort" with Craig Gilbert with Real Time Resolutions. I believe they are trained to make unrealistic demands on sellers to get as much as they can, even when there's nothing there. But I will keep trying, or they'll end up with nothing. Yes, I’m currently dealing or going “back and fort” with Craig Gilbert with Real Time Resolutions. I believe they are trained to make unrealistic demands on sellers to get as much as they can, even when there’s nothing there. But I will keep trying, or they’ll end up with nothing.

]]> Comment on Real Time Resolutions by Jennifer http://www.brokencredit.com/real-time-resolutions/#comment-56 Jennifer Mon, 21 Jun 2010 17:19:28 +0000 http://www.brokencredit.com/real-time-resolutions/#comment-56 You had questions in regard to my experience with Real Time Solutions, notably Eric Luna is whom I dealt with, over a year ago. I did get my short sale closed, however it was a real mess. The company itself was a wreck and Eric was extremely difficult to communicate with. In the end I did win, however it took some doing. Jennifer You had questions in regard to my experience with Real Time Solutions, notably Eric Luna is whom I dealt with, over a year ago. I did get my short sale closed, however it was a real mess. The company itself was a wreck and Eric was extremely difficult to communicate with. In the end I did win, however it took some doing.

Jennifer

]]> Comment on CitiMortgage Settlements by Sana http://www.brokencredit.com/citimortgage-settlements/#comment-55 Sana Thu, 16 Apr 2009 12:00:20 +0000 http://www.brokencredit.com/?p=2381#comment-55 I read the reference of Citibank settling a $250K ELOC for $50K. I am soooo upside down on my loan. My home is worth $670K. I owe on the first $658K plus an additional $157K to Citibank. My first mortagage conmpany just modified my loan and pulled it out of forclosure. Citibank, however did not initiate forclosure, but sent me to a collection agency/Law office. I contacted them about 4 months ago and they told me they are willing to accept 10% but must be a short sale. Can you offer some insight? I can borrow from my brother $15K to avoid BK, but I just need Citibank to listen. Sana I read the reference of Citibank settling a $250K ELOC for $50K. I am soooo upside down on my loan. My home is worth $670K. I owe on the first $658K plus an additional $157K to Citibank.
My first mortagage conmpany just modified my loan and pulled it out of forclosure. Citibank, however did not initiate forclosure, but sent me to a collection agency/Law office. I contacted them about 4 months ago and they told me they are willing to accept 10% but must be a short sale. Can you offer some insight? I can borrow from my brother $15K to avoid BK, but I just need Citibank to listen.

Sana

]]> Comment on Earth To Jonna by Paul http://www.brokencredit.com/earth-to-jonna/#comment-54 Paul Sun, 11 Jan 2009 06:05:01 +0000 http://www.brokencredit.com/?p=2136#comment-54 California is predominatly foreclosure through power of sale. There are two notices - a notice of default and notice of sale. The amount of notice required for a NOD is three months and for a NOS it is twenty-days. The NOD must be filed in the County where the property is located and should contain the following: (1) identify the mortgagee (2) nature of the breach (3) election to sell to satisfy the obligation (4) if curable The NOS will specify the time and place of the sale and the total amount due and it should be posted in a conspicuous place on the property (probably on the front door) twenty days before the sale. You should also receive these via snail mail. And I still think you should talk to a HUD Counselor. California is predominatly foreclosure through power of sale.

There are two notices – a notice of default and notice of sale.

The amount of notice required for a NOD is three months and for a NOS it is twenty-days.

The NOD must be filed in the County where the property is located and should contain the following:

(1) identify the mortgagee
(2) nature of the breach
(3) election to sell to satisfy the obligation
(4) if curable

The NOS will specify the time and place of the sale and the total amount due and it should be posted in a conspicuous place on the property (probably on the front door) twenty days before the sale.

You should also receive these via snail mail.

And I still think you should talk to a HUD Counselor.

]]> Comment on Earth To Jonna by Jonna http://www.brokencredit.com/earth-to-jonna/#comment-53 Jonna Sun, 11 Jan 2009 05:47:48 +0000 http://www.brokencredit.com/?p=2136#comment-53 Hi--me again, I live in California. Is there a special form that I have to get and does it have to state certain things? I'm scared to call my lender because maybe they'll speed up kicking me out and I have a little boy. I want to know what to look out for. If there is something wrong with the form, can I ask for more time? Hi–me again,

I live in California. Is there a special form that I have to get and does it have to state certain things? I’m scared to call my lender because maybe they’ll speed up kicking me out and I have a little boy.

I want to know what to look out for. If there is something wrong with the form, can I ask for more time?

]]> Comment on Student Loans & the FDCPA by Paul http://www.brokencredit.com/student-loans-the-fdcpa/#comment-52 Paul Fri, 31 Oct 2008 17:59:35 +0000 http://www.brokencredit.com/?p=1977#comment-52 Student loans are generally not dischargeable through bankruptcy unless it can be proven that repayment would cause undue hardship. In other words, you have to pay all of the student loan money back with interest and collection fees. The article 'bankruptcy and student loans' linked above describes the 'Brunner Test' which is the standard for determining 'undue hardship'. The student loans can be paid through a Chapter 13 plan but they won't (normally) be discharged/eliminated. I would say they survive a nuclear war; however, there is an intersting case this month 10/08 in the 9th Circuit where the student loan was included in a 13 and discharged and barred by the discharge injunction because the student loan creditor failed to object to the plan. I'll create another post on Espinosa v. United Student Aid Funds. It may or may not apply to your situation. Student loans are generally not dischargeable through bankruptcy unless it can be proven that repayment would cause undue hardship. In other words, you have to pay all of the student loan money back with interest and collection fees. The article ‘bankruptcy and student loans’ linked above describes the ‘Brunner Test’ which is the standard for determining ‘undue hardship’.

The student loans can be paid through a Chapter 13 plan but they won’t (normally) be discharged/eliminated. I would say they survive a nuclear war; however, there is an intersting case this month 10/08 in the 9th Circuit where the student loan was included in a 13 and discharged and barred by the discharge injunction because the student loan creditor failed to object to the plan. I’ll create another post on Espinosa v. United Student Aid Funds. It may or may not apply to your situation.

]]> Comment on Student Loans & the FDCPA by John http://www.brokencredit.com/student-loans-the-fdcpa/#comment-51 John Fri, 31 Oct 2008 16:37:36 +0000 http://www.brokencredit.com/?p=1977#comment-51 I still am a little hazy on the student loan issue from above. What about while in chapter 13 can they still sell my debt and charg transfer, late fees, and accumulate interest rates. I still am a little hazy on the student loan issue from above. What about while in chapter 13 can they still sell my debt and charg transfer, late fees, and accumulate interest rates.

]]> Comment on The Road To Homeownership by Paul http://www.brokencredit.com/the-road-to-homeownership/#comment-50 Paul Mon, 28 Apr 2008 19:53:26 +0000 http://www.brokencredit.com/?p=1608#comment-50 Hi Heidi, Yes, medical bills that report to the CRA generally hurt a credit score. Paying them off without a pay for delete will probably hurt even more. And yes, what you’ve cited won’t necessarily stand in the way of an FHA loan through a manual U/W. Heidi, I sent you an email. Paul Hi Heidi,

Yes, medical bills that report to the CRA generally hurt a credit score. Paying them off without a pay for delete will probably hurt even more.

And yes, what you’ve cited won’t necessarily stand in the way of an FHA loan through a manual U/W.

Heidi, I sent you an email.

Paul

]]> Comment on The Road To Homeownership by Heidi http://www.brokencredit.com/the-road-to-homeownership/#comment-49 Heidi Mon, 28 Apr 2008 19:31:38 +0000 http://www.brokencredit.com/?p=1608#comment-49 Hey its Heidi again!! You know what, I was wrong...it wasnt you that told me to open the accounts...it was the mortgage lender I was talking with at the time. I apologize!! Ok..so with that being said...what do you advise me to do??? Should we pay off the medical bills or just pay the cable and gas bill?? Or will paying either end up hurting us?? Do medical bills affect your credit score?? Do you think we would even be able to get a mortgage with those collection accounts?? Thank you for all of your help!!! Hey its Heidi again!!

You know what, I was wrong…it wasnt you that told me to open the accounts…it was the mortgage lender I was talking with at the time. I apologize!! Ok..so with that being said…what do you advise me to do??? Should we pay off the medical bills or just pay the cable and gas bill?? Or will paying either end up hurting us?? Do medical bills affect your credit score?? Do you think we would even be able to get a mortgage with those collection accounts?? Thank you for all of your help!!!

]]> Comment on Contract Unconscionable by Patrick http://www.brokencredit.com/contract-unconscionable/#comment-48 Patrick Fri, 25 Apr 2008 19:11:45 +0000 http://www.brokencredit.com/?p=1603#comment-48 Paul, On the post regarding the mentally disabled sister, odds are that the mother was elderly. If so, elder abuse is also a good legal stand. And with the disabled sister, it must be shown her mental capacity. Each could be slam dunks for an attoney. Loan rescinded and it would be turned into unsecured debt. Pat Paul,

On the post regarding the mentally disabled sister, odds are that the mother was elderly. If so, elder abuse is also a good legal stand. And with the disabled sister, it must be shown her mental capacity.

Each could be slam dunks for an attoney. Loan rescinded and it would be turned into unsecured debt.

Pat

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