Mr. Eason - Any thoughts on this ?

[bgriff]

I was looking at my credit report and noticed that First American Financial had pulled a "soft" report last week.

I have been trying to settle my second with TD Bank - I sent them my first settlement letter, which included a BPO that showed my property well underwater on the first, a few weeks ago so I'm assuming they had contacted FAF. FAF is a Title company, among other things.

Just wondering why a Bank would contact a Title company - I see that they provide multiple services such as property valuations.

Any thoughts ?

[TomEason]

bgriff

Thanks for your question.

I haven't a clue what TD Bank is up to. In trustee sale states, the trustee will order a TSG policy from a title company before FCing.

If your 2nd is underwater, they won't FC.

Since you want to settle, I recommend you visit this thread and follow the guide at post #1. Good luck!

Strategy for Settling Your 2nd

[bgriff]

Thanks - I live in NY so it's a Judicial foreclosure state.

I've been on these forums for over 6 months now and I've read the Strategy (great insight by the way). Unfortunately I came across the site a bit too late - I sent them financials in the hope they'd work with me. Needless to say that didn't go as planned.

I figured I'd follow the strategy anyway - my loans were discharged in 2009. At this point I don't think having my financials will help them anyway.

I sent my offer letter, which basically said that the property was $60k under on the first and I'm willing to walk away. I also sent them a BPO from a local RE agent that backed up my claim of how underwater the property is.

I was just curious if anyone had any insight as to why a Title company would pull my credit. The only thing I can think of is they want to do an independent appraisal and/or confirm the balance due on my first.

[TomEason]

bgriff

Thanks for that info.

Since your 2nd is underwater, they won't FC. I recommend you not worry about it (and try to not to think about it). You'll be fine.

Good luck!

[need-help]

bgriff

Thanks for that info.

Since your 2nd is underwater, they won't FC. I recommend you worry about it (and try to not to think about it). You'll be fine.

Good luck!

Hi, I am new to this site and is so eager to read all the forums that is applicable to me. Right now, my 2nd mortgage with Wells Fargo is about to be charged off end of this month. I am still trying to modify my first loan which is WF as well and was told it will affect my modification if it gets charged off. My question is, do I need to make payments to my 2nd loan to stop charge off while I modify first loan? BTW, I also just sent settlement letter last week to their recovery department. They said the settlement will take months if it does settle and in the meantime, I need to make a payment on the 2nd? My 2nd is interest only so I haven't paid for over 6 months. Any input is greatly appreciated. Thanks.

[TomEason]

need-help

Thanks for posting and thanks for joining the community.

I recommend you visit the following thread and read the strategy guide at post #1. The answers to your questions are there.

BTW, you shouldn't deal with your 2nd until after your 1st is permanently handled. Good luck.

Strategy for Settling Your 2nd