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  1. Jzone

    Hot Real Estate Market - Would like to list - Need Advice

    Is the deferred balance secured by a lien? If it is, that lien will need to be settled/paid/negotiated. The buyer needs a clear title and if there is an outstanding lien, the sale would not close.
  2. Jzone

    Credit Scores 10 Years After Bankruptcy-Time Is Your Friend

    Everyone knows that your credit score will take a huge hit after bankruptcy. And its a long road back to the 700 club! Right after my chapter 7 bankruptcy, my 3 credit bureau scores ranged from 510 to 550. Bankruptcy is a hard decision to make, but sometimes there is just no alternative. Its...
  3. Jzone

    Surprise partial claim at closing!

    I'm still not sure what you signed. You say the "$103k was placed into a 2nd lien". But you also say its a 2nd loan with no interest and no statements but has a maturity date of 2043 or when you sell? Check your modification documents to see exactly what you signed. Sounds like you signed a...
  4. Jzone

    Surprise partial claim at closing!

    ....the price you pay for being young. Did you think this $103K was just being forgiven? I'm not sure what can be done, if anything at this point. I would at least check your divorce records and see if your former spouse has any financial obligations to the debt. Doubtful but worth a try.
  5. Jzone

    PNC 2nd with charge off from 2014

    There is plenty of information on this site about what to do next, but I'll give you my perspective. Since this is a second mortgage, I'm assuming that you are current on your first mortgage? 1. PNC has no obligation to respond to your lump sum offer. You signed a mortgage and agreed to pay...
  6. Jzone

    Modification to extend maturity date

    So this must be a mortgage loan with a balloon payment at the end? This just could be the normal process with your lender, but now you are just 60 days away from that payment. If this doesnt work out with your current lender in the next week, I would look to refinance with another lender. If...
  7. Jzone

    Deed transfer

    This could get interesting depending on how your relationship is with the ex in-laws. First, I would verify that the home was actually signed over to you and you alone. It's possible your name was simply added to the deed. In that case you would now be a co-owner of the home. Ownership of a...
  8. Jzone

    Possible Refinance or New Loan

    Getting the lien removed without a payoff is unlikely. Check your state for property lien laws for time limits to enforce. There may be a statue of limitations for the lien holder to enforce a lien. Since you want to sell or refinance, make sure you do not let the lien holder know about that. It...
  9. Jzone

    Loan modification without my consent

    Wait...I've got a great idea for you! You say your ex wants you to make the mortgage payment but you don't live there? Well, I guess it's time for you to move in. Afterall, you're making the payments and you're on the mortgage. You have every right to live there also.
  10. Jzone

    Loan modification without my consent

    Im not an expert on divorce, but why would you continue to own property with an ex? If you are not on the mortgage, then the ex probably has a right to modify the loan without you knowing since you are not financially responsible for the debt. If you remained on the deed after divorce you are...
  11. Jzone

    2nd mortgage settlement

    I don't see how you could settle the mortgage. You've said you have bad credit and your income is from disability, your ex's pension and child support. What settlement could you offer? The days of settling debt for 10-20% of the balance are long gone. But you never know until you offer. What can...
  12. Jzone

    2nd mortgage settlement

    Yes, walk away from this. Why would you want to keep this house if it needs all those repairs? Are you on the mortgage/deed? Were both the first and second mortgage included in the bankruptcy and discharged? If they were, you are under no legal obligation for the debt. You are walking away from...
  13. Jzone

    Any advice is appreciated!

    Is the new home in both of your names? If the bank approved the new mortgage knowing that you still had the old condo, they must of thought your income was sufficient to cover both payments? There are a few alternatives to foreclosure which you should consider. If you already were planning of...
  14. Jzone

    How do I settle or (make current) an Charged Off 2nd Mortgage with CitiMortgage

    I looked at my bankruptcy paperwork to see if I could help you out here. Did you file bankruptcy or just stop paying? Charge off is simply an accounting term for the bank and really means nothing to the customer. However, check your statue of limitations in your state for collecting on a lien...
  15. Jzone

    2nd mortgage

    I would do nothing at this point. You submitted an offer and they basically did not respond to it. If you want to send another letter, include a copy of their original letter reminding them of the payment options they gave you. Do it by registered mail so you can verify it was received. If you...
  16. Jzone

    Lots of questions - Need some guidance

    I would start with having a real estate lawyer do a title search for you. Even though the original mortgage was discharged and not reaffirmed, the original mortgage company more than likely still holds a lien on the property. Most states let you check this for free online or at your county...
  17. Jzone

    Modification

    I would ask a real estate lawyer on this one. But, I'm assuming that you are the trustee of her estate? And there is still a mortgage on the property? Whose name is the mortgage in? You wouldn't be able to do a modification if your name is not on the current mortgage.
  18. Jzone

    2nd mortgage

    Here's a copy of the letter I have sent several times over the last 8 years. They have only responded back once to my offer. They have called and sent letters requesting more financial information, but I always decline with a repeat of the offer only...
  19. Jzone

    2nd mortgage

    Have they made a settlement offer? Or they want you to make the offer?
  20. Jzone

    Second Mortgage Charged Off in 2012 - Lien Still Held by Credit Union

    Thats good news! I have been tempted to contact my lien holder during this pandemic also. I've never done that before, always waited for their usual letter in the mail and then replied. Was there any negotiation on your settlement or did they simply offer to settle for $7999 and you said yes?