Give Ear To Gene’s Quasi Estoppel

When a borrower enters into a forbearance agreement with a debt collector (loan servicer) any and all amounts that may be stated as due or past due within the agreement, are still subject to validation under RESPA Section 6 and/or Section 809 of the Fair Debt Collection Practices Act.  Or, does signing the agreement “verify” the debt forever, thus precluding any and all future request for validation or explanation?

As you may well know, a forbearance agreement, written by the loan servicer or debt collector on the eve of a foreclosure sale, is always, or most often, favoring the financial rewards of the servicer and seldom, if ever, the borrower. 

Our servicer, SN Servicing, Inc., claims once you are forced into an agreement and sign it, as in our case under duress, you forfeit all rights to debt validation.  Your signature validates any and all sums contained or referred to within the documents and you surrender all statutory rights, both Federally and those within applicable State Statutes. 

Without the clearly defined legal right to have the debt factually and accurately documented, either before or after signing, has and will lead to continued abuses of the borrowers by the servicers. 

Without proper regulation the forbearance agreement, in the hands of the unscrupulous collector in this devastated financial market, will become no more than a “ransom note” demanding payment of any and all sums they choose to fabricate, metaphorically,  presented in a box with the severed ear of a loved one.  You either accept their demands for payment or lose that which you love so dearly and have struggled for so many years to maintain. 

Where can I get a clarification of this question?  Thank you again for your assistance.

Gene