HELOC settlement with RTR

[Mike@cal]

I bought my house in Ca for 440K, the 1st loan was modified by BoA, the 2nd loan (HELOC 100K)was not and was sold to RTR. They offered to modify the house payable for 15 yrs. I offered to settle with them instead of dealing with them for 15 yrs. I want to keep the house. I started the offer at 10% up to 20% but they said they cant accept it and they will only take 50% settlement. The CA said if I want a settlement lower than 50% I have to send them my financials, hardship letters etc. I read a lot of posts advicing not to send any of my financial info to CA. I am desperate to settle this but I want to do the right step without making major mistake. It is a big chunk of money and there is no way I can come up with that $$. Pls advise. Has anyone of you ever dealt with RTR or had HELOC settlement with them. Should I send them my financial info just to get a better deal?

[kitkat01]

Welcome to the forum. I am not an expert but I was advised by many people here NOT to give financials. I am going through the same situation as you are. My HELOC is just not as big as yours but my property is underwater. You can try to read my post that had some response from TomEason that knows a lot about our situation. Is your property underwater? My post is below... Hope it helps.

Tom/Evan or Anyone - Need your help! Settling my 2nd but they will not move forward without Financials!

[Cat Damiano]

I bought my house in Ca for 440K, the 1st loan was modified by BoA, the 2nd loan (HELOC 100K)was not and was sold to RTR. They offered to modify the house payable for 15 yrs. I offered to settle with them instead of dealing with them for 15 yrs. I want to keep the house. I started the offer at 10% up to 20% but they said they cant accept it and they will only take 50% settlement. The CA said if I want a settlement lower than 50% I have to send them my financials, hardship letters etc. I read a lot of posts advicing not to send any of my financial info to CA. I am desperate to settle this but I want to do the right step without making major mistake. It is a big chunk of money and there is no way I can come up with that $$. Pls advise. Has anyone of you ever dealt with RTR or had HELOC settlement with them. Should I send them my financial info just to get a better deal?

Welcome to the forum and thank you for joining...............

There are a number of members dealing with RTR in the following thread;

Real Time Resolutions


Also members that have received permanent help on their first lien are following the first post in the following strategy thread;

Strategy for Settling Your 2nd