Search results

  1. walkin

    Va Loan Foreclosure, Suing Co-borrower For Va Loan Entitlement Reinstatement?

    Hi, I'm back. Cleaned up a big mess I had made several years back, thanks to a lot of reading in this forum. :-) (settled $100k bad debt including a $70k HELOC and $30k on 2 CC's for $15k, mortgage mod on the 1st mortgage, sold house to break even, moved on, cleaned up credit, bought another...
  2. walkin

    Credit Card Settements, 1099-C's, Form 982, and Insolvency :-(

    I settled 2 cards last year, received 1099-C's for both (as expected). Before completing the settlement process, I spoke with a CPA about the tax implications, and specifically about Insolvency. (lol, he actually suggested that I speak to a BK lawyer before I completed these settlements). I...
  3. walkin

    Mortgage Assignment made 6 years later, MERS, legit?

    Purchased house in 2006. After a few months, received a letter saying we will need to start sending payments to a new bank, which we did. Fast forward to 2012. House is pending foreclosure. I previously checked title, and it was still assigned to the bank who financed me in 2006. Led me to...
  4. walkin

    Received letter from law firm, reinstatement of mortgage?

    I'm not sure who is confused the most right now, me, the bank, or the lawyers? I received an unsolicited letter from a law firm, said something like: "we received your request to reinstate your mortgage, and it will cost blah blag blah, and that is good until next month". I never...
  5. walkin

    DIL with tenants in place

    I tried the search function, to no avail. The best I found was that there isn't much of a difference between FC and DIL, as it affects the tenants, so I'm reaching out to members who might have gone through this process. If a DIL is agreed upon, do the tenants get to stay in the house until...
  6. walkin

    Question about house insurance cancellation- cash the check or not?

    My homeowners insurance is paid by my bank, from escrow. 2012 was paid in advance. Got a call from my insurance agent a while back, giving me a heads up that "corporate" was sending me a cancellation, because the house was no longer "owner occupied". No kidding db's, I changed the policy to...
  7. walkin

    Received a letter from Fannie, offering assistance

    Recently received a letter from Fannie, offering mortgage assistance (mod) help if I call them. I think I might call them and see what they are selling. I highly doubt they will be able to offer what I want (25% principal reduction, interest rate dropped to today's rates, past due...
  8. walkin

    Note left on door to change the locks...

    Just found a note on my door that says the house is vacant or abandoned, and they will change the locks soon, and winterize the plumbing. I called the number and told them that we are moving back in, in a week.. They said they will update the file to show "occupied" How long is this good...
  9. walkin

    Who Holds the Lien After Chargeoff? (HELOC)

    My HELOC charged off (I think) after 6 months of no payment. So I started getting letters from a collections agency. The letters say that they are collecting $xxxx for a delinquent debt from some insurance company. I pulled my credit report, and see that the heloc is paid in full, account...
  10. walkin

    New/Revised HAMP For Rental Properties?

    Everything I read in here about HAMP states that they will get your mortgage payment to 31% of your income, on your Primary Residence. I have not seen any discussion about the new HAMP (thanks Obama) that now includes rental properties. Has anyone filed the new HAMP app (7 pages, I think)...
  11. walkin

    Judgments in non-wage garnishment states

    I found this in my google search, and I have more questions, more specifically, what "assets" can be attacked if I have a judgement against me, and how to protect myself? "Assume: Creditor judgment against debtor. Debtor has no assets, but high paying job in non-wage garnishment state...
  12. walkin

    Received first letter from CA after HELOC charge-off

    After no payments for 6 months, my HELOC charged-off the account. (after they refused to release the lien in a SS attempt, for approx 20% of the balance). I received a letter today from a collection agency, DCS, wanting the full amount (LOL, yeah, I'll get right on that and send you a check)...
  13. walkin

    Anyone play Poker? (NL Hold 'em type)

    I do. My strategy with dealing with these banks, in my recent games, will have to depend on my poker skills. I'm not a superb player, nor does it make any money for me, but I do o.k. I have to rely on my analytical mindset to battle these banks, because I don't have the education or...
  14. walkin

    Register of Deeds does not show correct Mortgagee?

    I'm not sure if it really means anything or not, or if it may help to delay things? (possible FC, DIL, etc.) I was looking at the Register of Deeds online, and I see where the first bank has some docs listed for Mortgage. Within a year of buying our house, we received a letter in the mail...
  15. walkin

    Negotiating with a 1st who has already shown their hand?

    I'm not a math wizard, but I try to use numbers and common sense to come up with a plan. I'm looking for some feedback, to see if negotiating with these banks really is possible, or if they are just too big to see a good thing. 1st mortgage (backed by fannie, I think) balance is approx $140k, 6...
  16. walkin

    Effects of providing too much financial info to creditors?

    About 5 months ago, I gave the banks EVERYTHING they asked for, foolishly hoping for a SS to get approved. It was eventually denied. I've read a lot in here, and the general consensus seems to be NOT to provide the banks, creditors, etc. ANYTHING. In my situation, we make decent money...
  17. walkin

    Bankruptcy as an option (last option)

    Due to some financial issues, we spoke with a BK attorney a few weeks back. It was a free 90 minutes or so, so the Q&A was limited. Pretty much, he was ready for us to file Ch 13 with him (CH 7 would be impossible, since we are above the median income, or whatever it was). He did a quick/rough...