Real Time Resolutions 2nd Mortgage Settlement

Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
Aug 10, 2007
26,851
466
1,000
49
Southern California
www.loansafe.org
Hi Tom,
I am still trying to settle with RTR. I am asking for an 8% settlement. I have sent them a BPO (broker price opinion) of my home and now they want financials. Do you think I should continue to hold out on the financials?
The strategy is to hold off and politely refuse. Give them everything but that information.
 

Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
Aug 10, 2007
26,851
466
1,000
49
Southern California
www.loansafe.org
Question.
How do you locate the deeds of a HELOC ?
Can you request it from RTR to make sure it's in good standing prior to engaging to any settlement?
I have read stories of people that made payments to companies that did not hold the loan.
Also, will the bad loan be erased from your credit report after 7 years ? If so is it automatic or should you contact major credit score companies to have them remove it?
Thanks
Through your local county recorders office. The mortgage servicing company normally retains the deed, but they may sell the debt to be collected by someone else. Once it is paid, they then release the lien. It is supposed to some off your credit automatically, but it usually does not. You may have to write to request they remove it after the time has expired.
 

lavegan

LoanSafe Member
Jul 2, 2012
1
0
1
Georgia
Through your local county recorders office. The mortgage servicing company normally retains the deed, but they may sell the debt to be collected by someone else. Once it is paid, they then release the lien. It is supposed to some off your credit automatically, but it usually does not. You may have to write to request they remove it after the time has expired.
Hi, I am in a similar situation. The 2nd loan has just been removed from my credit after 7 years. Can we get the servicing company off the deed since they are no longer in business? It is owned by for Accredited Home Lenders. RTR is collecting on it. It should be something we can do other than filing bankruptcy to remove the lien. Thanks