Refinancing with a 2nd mortgage transferred to Real Time Resolutions.

C

Chasegame two

Guest
I remember similar 'offerings' by them (RTR). I just kept saying (verbally and then by certified mail) that it made no sense for us, or for them, to start some new, creative, modified loan when we'd just end up defaulting on it again. My position was, the best thing for all parties, was to come up with a lump sum amount as a total payoff and we'd seek the help of family/friends to make it happen. Then I said we can offer $x (around 3%) .

They would always respond with requests for financials, and I would always say no- and that they could easily review everything in our Chapter 7 filing.

To your point on being clueless- someone on this forum suggested that those doing the calling from the lenders were mostly entry level employees, tasked with enormous lists of defaulted loan borrowers they needed to call.
 

cbella

LoanSafe Member
Aug 19, 2020
3
0
1
I remember similar 'offerings' by them (RTR). I just kept saying (verbally and then by certified mail) that it made no sense for us, or for them, to start some new, creative, modified loan when we'd just end up defaulting on it again. My position was, the best thing for all parties, was to come up with a lump sum amount as a total payoff and we'd seek the help of family/friends to make it happen. Then I said we can offer $x (around 3%) .

They would always respond with requests for financials, and I would always say no- and that they could easily review everything in our Chapter 7 filing.

To your point on being clueless- someone on this forum suggested that those doing the calling from the lenders were mostly entry level employees, tasked with enormous lists of defaulted loan borrowers they needed to call.
Thank you for you help. I just received the paper work for the loss mitigation but I am not going to fill it out. I think I will use your strategy.
 
F

Fighting against RTR

Guest
Did you have equity in the house?
See, I do have equity in the house and my credit is not bad but I am not able to refinance because I then will not be able to afford the house, I also don't want to sell it because I will not be able to afford an apartment rent near my job. right now all I have are my tax returns in order to negotiate and that is about what you mention you settle for. It is such a catch-22 situation : (

They called me again the other day but I was at work and was not able to answer, should I contact them and explained my situation to see if they are willing to settle?
Romeo- Could you please share with us any update on your case?
I am going through the exact same situation with RTR and I do not know where to turn. We are considering filing Chapter 13 in order to get them to work with us because I cannot reach any agreement with them even though we do have the means to pay them back in a very short time period. It's unusual and as if they do not want our money. We do have equity in the house.

Any insight would be helpful on how to deal with this situation. Thank you.
 

cbella

LoanSafe Member
Aug 19, 2020
3
0
1
Hi Romeo,
This is a situation I deal with quite often and you may have already seen me post about these liens and how to go about taking care of them. The only problem that I've personally had with RTR is that they haven't confirmed one of my borrowers liens is charged off. If the lien is not charged off you want to be really careful how you deal with them.

I'm going to post a video below that I recently did about these liens that may help you understand what options you have available. I'm personally licensed in almost every state in the entire country and have countless borrowers in this situation with the lien holders threatening action (like foreclosure).


Please do give me a call if you have questions on this, if you want we can also do a three way call to RTR and see what exactly is going on, I'd be happy to do that. My contact information is here: 619-379-8999 and [email protected]
My original 2nd mortgage with was Ditech and was sold to SLS. When I tried to workout a solution with SLS I was told it was a charge off. How can I see if it was actually a charge off. Now it is with RTR and from your posting it says that makes a difference. I have reached out to them but not many options available.
 

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
Jan 14, 2011
2,111
182
63
San Diego, California
www.loansreduced.com
If you'd like - give me a ring and I can let you know what the typical options they provide are. 619-379-8999. I do apologize about the late response I didn't know I had a reply.

Also feel free to reach out here if you haven't already: [email protected]
 

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
Jan 14, 2011
2,111
182
63
San Diego, California
www.loansreduced.com
Eric, whoever is supposed to be moderating this website.....ain't. : )
I'm doing my best right now @chasegame, it's a little hectic on the origination side with how low the interest rates are. If you can report any spam on the website it would help me clear out some of these guests that keep posting links to men's growth supplements and such. Lol!