2nd With Real Time Resolutions Ca - Yet No Public Record Of Lien Or Encumbrance

Coloradofury

LoanSafe Member
Aug 19, 2008
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Anyone familiar with a 2nd loan being sold to Real Time Resolutions (RTR) - but no lien ever appearing on property record?

What about an unexplained Principal Reduction on the balloon portion with OCWEN?

Orig Loan - 1st - $227k 2nd - $58k

-2009 filed BK and discharged on 1st and 2nd mortgages both with AHMSI - Did not realize we had not reaffirmed. Loans soon transferred to Homeward.

-Made payments until realized we had no reaffirmation and attempted to modify.

-2012 Modified 1st mortgage only - which became a Deferment loan with the balloon on latter half due in 2035, which Homeward referred to as new 2nd loan. Now $227k + $28k (taxes/interest/missed payments)= $256k
New 1st $156k principal with $100k deferred until a year 2035 balloon payment.

2012 - Original 2ond mortgage ($58k) sold to Real Time Resolutions collections.

-2013 - Homeward Loan $256k transferred to OCWEN

We are making full $700 monthly payments on the OCWEN 1st - nothing due on deferment. Mortgage statements no longer reflect a deferred balance - only a $154k principal.
We called OCWEN to check on this and are advised they show no 2nd, no deferment and state our payoff is in the ballpark of $154k. We just paid $30 to order a Statement of Payoff, thinking this is the only way to ascertain our true loan balance?? Curious what we might be missing? Has anyone else experienced anything similar?

As for the Real Time Resolutions account, we have received 2 letters over two years from RTR, asking for payment, stating they own the loan and hold lien on the property. simply ignored them.
We have conducted a property search and find that RTR has not been recorded as a Lien with county clerk/recorder - assessor.

Furthermore, neither RTR, nor OCWEN are reflected on our credit reports??? Is this normal?

Questions:
After Chapter 7 discharge, does RTR have a right to collect on a non-reaffirmed 2nd?
Why isn't the debt reflected on our credit reports?
Why don't county property records reflect Lien? (They actually show no Lien whatsoever)?
And what is up with the OCWEN Deferment?

Appreciate some wisdom!! Many thanks!!
 

Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
Aug 10, 2007
26,796
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Southern California
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Hello,

Wow, I think you are in the mortgage twilight zone. No, this is not normal and I do not know to further advise you more than you have already done.

Yes, RTR has the right to collect from you, but not sue you because your bankruptcy eliminates their right to sue you, but it does not remove the lien from your property. The reason it doesn't show up is because is was discharged, but the lien remains on your home. You will have to negotiate a settlement to get it removed to have free and clear title.

The weird thing is that there is no lien showing. I do not know why, but that may be a good thing.

The Ocwen deferment issue is also a peculiar issue. Not sure why and your guess is as good as mine. Maybe it was never recorded in their computers and you do not have to pay it.

You have covered all your bases and done everything I would recommend.
 

Coloradofury

LoanSafe Member
Aug 19, 2008
62
0
6
Moe - Thanks as always for your insight. Do you believe a title company might find the lien in a search? Of course that would cost several hundred dollars from what I understand.
 

Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
Aug 10, 2007
26,796
456
1,000
47
Southern California
www.loansafe.org
You are most welcome. Yes, a title search will most likely find the lien. Sometimes it takes 6 months or more for these lien to be reflected on the county recorder's website.
 

Coloradofury

LoanSafe Member
Aug 19, 2008
62
0
6
You are most welcome. Yes, a title search will most likely find the lien. Sometimes it takes 6 months or more for these lien to be reflected on the county recorder's website.
It's been quite a while since we spoke. The Lien from RealTime Resolutions never showed up on our Title with the county or even on an OandI title search. However, the original loans from 2005 with Option One, then xfered to AHSMI, then to to Homeward and utlimately to OCWEN - still reflect on our county recorded title as Option One loans 1 and 2.

Since we know Option One is not the lien holder, but OCWEN is, and clearly we will have to pay them if/when we sell - don't we also assume that the collection on the second owned by RealTime is also on the county lien simply listed as Option One loand 2?
 

Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
Aug 10, 2007
26,796
456
1,000
47
Southern California
www.loansafe.org
Ys, I would assume that the RealTime Resolutions lien will show up. It is quite common for liens that have been recently transferred and or sold to not show up, but once a paid title search is done at the time of sale/transfer of the home, they will be found by the title company who is like a private investigator of real estate whose job is to locate liens etc.