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    Possible HELOC

    Probably a dumb question but what the heck. I currently have 2 mortgages on my home. The second is a lien from the SBA. I have read that you can offer them a Offer in Compromise (OIC). So a thought was if I could take out a HELOC as a 3rd mortgage. Offer an OIC to them and use the HELOC to...
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    Seterus Bank

    Thanks Erik!
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    Seterus Bank

    Hi all. I just received a letter from Seterus Bank who holds my mortgage. It states they have applied a $5,000 HAMP incentive to reduce my unpaid principal. It also states that I may also qualify for a reamortization of the UPB. I'm assuming this is a good thing??? Can someone actually...
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    Sba Loan With My Home As Collateral

    Hi Maurice, I did file for BK in 2010. Unfortunately I did not get my discharge. Therefore the last few years have been tough to say the least, but old debts have fallen off,etc. We are slowly but surely getting back on our feet. I really do not want to go that route again...
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    Sba Loan With My Home As Collateral

    Ok here's my story. Back a few years ago I was doing quite well being involved in real estate. I took out a loan from CIT in 2008 just as things were turning south with Real Estate and the economy. I had to pledge a few things and foolishly included my primary residence. Very foolish...
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    Insolvency

    So what exactly is insolvency? If you have a 1099-C form you just received for debt forgiveness, do you still have to claim as income? If you have a large debt and can't pay as you have no assets can you get out of it and not have to file Ch.7?
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    Sba Default Help

    Thanks Maurice. Unfortunately I pledged property which may not help me with the SOL. :( I did speak to an attorney who advised me to check the Register of Deeds and see if on the deed if the bank (CIT) is on there or if it actually says SBA. He said more than likely it will be just CIT...
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    Sba Default Help

    Really? Nobody???
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    Sba Default Help

    I filed for BK in 2010 but unfortunately did not get my discharge. Much of what I had in debts have fallen off due to SOL, and a few paid what I could. I just got in a letter from the SBA out of the Birmingham, AL. office for a loan I took out in late 2008 and had to default due to my...
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    Question On Possible Modification

    I keep receiving solicitations from some company with the phone #: 844-808-hope (4673). Just says it's from Making Home Affordable and to call to confirm eligibility. I'm not actually looking for a home modification, but it does just show a reduction on the balance as well as a much lower...
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    Mortgage Relief

    Keeping getting these notices in the mail from the header: "Emergency Mortgage Relief Regarding: 12 U.S.Code, Chapter 28" This has my home address, my current mortgage balance and also offers a lower rate, mortgage balance, and reduced payment. Say to call: 844-808-"hope" (4673) Has...
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    Irs

    Thanks Moe. I honestly thought that was the case. Oh well. :(
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    Irs

    I don't know if anyone can answer this question,but this site is so awesome and helped my family and I out so much with the hell we went through a couple of years back that it's worth a shot. :) Anyway I owed some taxes from my 2012 return and have recently set up a payment paln. I got an...
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    Hope I'm in right column,need advice

    Tom- As always great advice. Fortunately my BK attorney feels awful about the outcome of my case. I know he will assist me on this for a nominal fee. I will follow up on this advice. Thank you!
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    Hope I'm in right column,need advice

    Long story short.............I filed for BK back in 2010, Trustee filed an AP, in order to get AP dismissed had to agree not to pursue discharge. Therefore no discharge. Most of the debts I had are falling off due to SOL. However I do have my primary house which I was able to work out a...
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    Advice on what mortgage and what's not

    Thanks Evan and Happy New Year to you as well! I honestly can't say where I would be if it were not for this wonderful site and the good people such as yourself,Tom,etc. Thanks again.
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    Advice on what mortgage and what's not

    Hi Tom- What I was asking was is if you could tell me exactly what the Exec.Escalation team is and what exactly they do. I was also thinking I should get a full title search on the property to decipher the exact ownership trail. Thanks.
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    Advice on what mortgage and what's not

    Thanks so much Tom.. May I also ask what exactly the Executive Escalation Team is exactly and what they do? Also I was considering asking an attorney to run a title search on the property. That should show a trail of ownership as well hopefully prove this is no longer my property.
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    Advice on what mortgage and what's not

    I know the title is confusing,hence my confusion. Brief background, I filed for BK in 2010, it did not get discharged. Unfortunately my attorney was inexperienced and the Trustee offered us a settlement of not filing an AP against if we agreed not to fight for a discharge. We had no idea what...
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    BOA Nightmare Again

    Well said Evan and absolutely right. The ironic thing was when I got off the phone with the Customer "Service" rep, he says "and thank you for being a loyal customer"!! You're right about the stress. My wife was in tears when she called me, and she's a strong lady! Just all the nightmare we...