non recourse 2nd loan in cali irritating me with collection agency, help

[pcuser123]

Hello everyone my second loan of a home i forclosed on has hired an agency to collect from me. I realize under 580b they can not collect 1 penny from me. Professor shays once posted a template letter to send to them that basically tells them to screw themselves in a professional fashion. Can anyone provide me with the link. I looked everywhere. Thanks

[auroraproblem]

Don't take this too seriously...I like to draw a hand with the middle finger up, then perhaps fax that off to them *lol*.

Personally I do remember something posted at one time that even a simple phone call reminding them that they are not entitled to collect nor contact you about collecting. If they don't get that message, you could always hire an attorney for like $150 or so to send them a quick letter reminding them of your rights.

[Sparkss]

I don't know about mortgage debt, but typically lendors don't hire debt collectors but instead sell your debt off to them. If that is in fact what happened to your debt then the collection agency will try to at least recoup what they spent to buy your loan. Again, I don't know how the mortgage debt is handled, so I am speaking in generalities. But if they try to report it to the credit bureaus you have an actionable event that you can sue they for, IIRC. I think the typical penalty is $1k per incorrect reporting. Best of luck with those vultures.

[Mr.Smith]

Here is what I had to do.
First letter:

We are concern about a call that was made on XX/XX/XX at XX:XX from XXX-XXX-XXXX. It was from debt collector advising us to call XXX-XXX-XXXX.

Please be advised that all further correspondence from Name of Loan Servicing or any other loan services to be made in writing only.

Thank you for your time and consideration.

Sincerely,

Your Name

XX/xx

Encl: Copy of correspondence dated XX/XX/XX & XX/XX/XX, copy of certified mail receipt

CC: File


Second letter:

Please take in consideration that all further correspondence from Name of Loan Servicing to be made in writing only.

Also, please refer to “Fair Debt Collection Practices Act” §805 & §806 and “FTC Fact for Consumers”.

Sincerely,

Your Name

XX/xx

Encl: FTC Facts, form of consumer complaint against a business/corporation and letter from Name of Loan Servicing dated XX/XX/XX, letter addressed to Name of Loan Servicing dated XX/XX/XX


Third letter was mailed to my attorney with a copy of log sheet. After that I got apology letter. No more calls. Just a letter with request of payment once a month. Good Luck

[sharona]

Hi pcuser123,

I remember that letter that was written by Professor Shays. I knew I might need it someday so I copied and pasted it to my documents. Here it is. Good Luck!


Sharona



Dear Collection Agency:

I am in receipt of the attached letter, which frankly confuses me. The debt you reference was a secured loan on my former ffice:smarttags" />lace w:st="on">Californialace> residence. I say "former" because I no longer own it because the first lender foreclosed on the home. While I suspect you already know the applicable law here in lace w:st="on">Californialace> relating to limitations associated with the second secured lender's sole remedy, I suggest that you should be mindful of the language in California Code of Civil Procedure Section 580b, which prohibits deficiency judgments with limited exceptions where “purchase money” securities are involved. For this purpose, “purchase money” means a third-party lender advancing funds to a buyer to be used to pay all or part of the purchase price of a dwelling of not more than four units to be occupied in part or entirely by the buyer.

Given that the proceeds of the loan in question were used to pay part of the purchase price of my former lace w:st="on">Californialace> residence, I suggest that there is simply no debt owed since the creditor failed to exercise their sole remedy of foreclosure. I must insist that you immediately cease any and all collection activity or any other actions that impair my reputation and creditworthiness. If you fail to do so, I will have no choice to exercise my rights and remedies, both under Federal Fair Debt Collection Practices laws, and similar lace w:st="on">Californialace> state laws.

Sincerely,

[sharona]

Not sure what happened in the transfer but here it is again:



Dear Collection Agency:

I am in receipt of the attached letter, which frankly confuses me. The debt you reference was a secured loan on my former ffice:smarttags" />lace w:st="on">Californialace> residence. I say "former" because I no longer own it because the first lender foreclosed on the home. While I suspect you already know the applicable law here in lace w:st="on">Californialace> relating to limitations associated with the second secured lender's sole remedy, I suggest that you should be mindful of the language in California Code of Civil Procedure Section 580b, which prohibits deficiency judgments with limited exceptions where “purchase money” securities are involved. For this purpose, “purchase money” means a third-party lender advancing funds to a buyer to be used to pay all or part of the purchase price of a dwelling of not more than four units to be occupied in part or entirely by the buyer.

Given that the proceeds of the loan in question were used to pay part of the purchase price of my former lace w:st="on">Californialace> residence, I suggest that there is simply no debt owed since the creditor failed to exercise their sole remedy of foreclosure. I must insist that you immediately cease any and all collection activity or any other actions that impair my reputation and creditworthiness. If you fail to do so, I will have no choice to exercise my rights and remedies, both under Federal Fair Debt Collection Practices laws, and similar lace w:st="on">Californialace> state laws.

Sincerely,

[franklyspeaking]

You can look up the collection agency's name, address and/or phone# fax# by using google. Google the phone# they call u from , or use the better business bureau website to look it up . Send the cease and desisit letter, fax it , email them and send it certified mail, they will stop calling once they get the letter , by law they have too.

[auroraproblem]

Everyone provided much better advice than mine I would add that I contacted my second and had asked that they removed my work phone number from the contact list (stating that they have never had an issue getting in touch with me at the primary number). They complied after a simple phone call.

[sharona]

pcuser123,

I am not sure why everytime I copy and paste the collection letter that this appears :(lace w:st="on">Californialace>),it is not in the orginal letter. Ignore that part of the sentence if you chose to use the collection letter.

Sharona

[civilguy]

I was the original post for this letter that prof shays wrote. I wrote back to the collection agency w/ this letter and have not heard anything from them since. This was a 155k 2nd loan.