Success in Settling 2nds-cont'd

JohnFL

LoanSafe Member
Thanks for the input Jzone, appreciate it. The county records show 1st is with Douche since 2009. The 2nd still shows New Century from 2005, tho now I know it's Douche. I'ts funny but after I got the 1st modified in 09, I never heard from the 2nd again. I think it was SPS who was servicing for Douche on my 2nd. They had actually offered to settle for 36k back then, but I didn't have funds. So I guess I will proceed with trying to settle with Ocwen. I have a suspicion Ocwen is prob going to possibly start some foreclosures in near future as they created a new entity called PHH which recently took over servicing of my 1st. So should I try to start negotiations over the phone or by letter? I am trying to get a settlement so that I can sell. Unfortunately the home is too big for myself and wife to maintain due to my disabilities. I'll keep you guys up to date on how it goes. Wishing everybody luck! Have a great day
 

missy22

LoanSafe Member
Im not really sure what " they withdrew the files from the vault with 2nd going to US Bank Corp Trust in 2005 and 1st to Ocwen in 2020 " means. Sounds like you would need to negotiate with Ocwen. Check with your county register of deeds and look up the lien in the records. It may help you verify who actually holds the lien.
Since Douche has told you they cant help, I would contact Ocwen. Did you keep any notes of names and numbers you called at Douche? If Ocwen also says they cant help you, having a name at Douche would help you avoid starting all over again.
Finally, did you file bankruptcy in 2009 or just stop paying on the second in 2009? If the debt was discharged in bankruptcy, some states have SOL on how long a debt/lien holder can try to recover.
Where can you find the SOL on a lien for each state. Wondering what Michigan's is then...
 

Jzone

LoanSafe Member
Thanks for the input Jzone, appreciate it. The county records show 1st is with Douche since 2009. The 2nd still shows New Century from 2005, tho now I know it's Douche. I'ts funny but after I got the 1st modified in 09, I never heard from the 2nd again. I think it was SPS who was servicing for Douche on my 2nd. They had actually offered to settle for 36k back then, but I didn't have funds. So I guess I will proceed with trying to settle with Ocwen. I have a suspicion Ocwen is prob going to possibly start some foreclosures in near future as they created a new entity called PHH which recently took over servicing of my 1st. So should I try to start negotiations over the phone or by letter? I am trying to get a settlement so that I can sell. Unfortunately the home is too big for myself and wife to maintain due to my disabilities. I'll keep you guys up to date on how it goes. Wishing everybody luck! Have a great day
I always put conversations in writing. Even if you do call them, followup with a letter summarizing your conversation.
 

missy22

LoanSafe Member
Try this link:
interesting. Does this apply to 2nd's? I'm getting no where with finding out from specialized whom has the power to release the lien since they took it over....I'm just sick of this hanging over my head worrying about this.
 

Survivor_IN

LoanSafe Member
interesting. Does this apply to 2nd's? I'm getting no where with finding out from specialized whom has the power to release the lien since they took it over....I'm just sick of this hanging over my head worrying about this.
Yes, would apply to seconds. However, you may have to bring legal action in order to get a release from the second if you meet the conditions stated. The court will order it if this is in your favor (bypassing servicer obligations). Doubtful they (2nd) will volunteer a lien release, but if you are close to time limit, they may file suit before the SOL runs out. If you have already claimed BK on it, this may be why they haven't filed suit. Plus, they would also need to pay off first, who would have to agree to their actions, which may be a bit of a legal nightmare for them. They would be better off negotiating with you and accepting ANY SUM versus NO SUM.

The servicer is the responsible party for this "lien release" in general, but you could send a qualified written request to get info on who is owner if you feel this may provide you with answers.
 

Survivor_IN

LoanSafe Member
Yes, would apply to seconds. However, you may have to bring legal action in order to get a release from the second if you meet the conditions stated. The court will order it if this is in your favor (bypassing servicer obligations). Doubtful they (2nd) will volunteer a lien release, but if you are close to time limit, they may file suit before the SOL runs out. If you have already claimed BK on it, this may be why they haven't filed suit. Plus, they would also need to pay off first, who would have to agree to their actions, which may be a bit of a legal nightmare for them. They would be better off negotiating with you and accepting ANY SUM versus NO SUM.

The servicer is the responsible party for this "lien release" in general, but you could send a qualified written request to get info on who is owner if you feel this may provide you with answers.
Also highly possible the second is owned by the servicer. I'm finding more and more evidence that this is common practice.
 
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