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Please help. After Ch7, home loan.

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    Please help. After Ch7, home loan.

    Discharged 10/2010
    Did not re-affirm mortgage BUT stayed current, never late.
    With BAC(BofA)

    Just got a letter saying loan is being transferred to "Green Tree" 9/1/11.
    As far as I have seen online GT is a bad group and mainly deals with problem laons ...not sure though.

    My questions:
    Anyone else had a loan transfer in current but discharged status?
    Why would any company take over a written off loan?
    Does the discharged status(our freedom from the debt) change with another company taking over it? I'm nervous paying them or this process may Jack up our status on the loan.
    Would the loan transfer to GT, mean they want to foreclose and move us out to try to do something else with the property?

    Thanks for any help or sharing of experience.
    (sorry, written from phone)

    #2
    BOA stinks....sorry I was extending my middle finger as I typed that.....;-) If you plan on riding through, no problem, they cannot change the terms of your mortgage, but it sounds like GT is getting screwed....you can stop paying at any time....you just lose the house in foreclosure. They typically don't "write" the mortgage off, they still have title and can foreclose, sell the property and collect whatever moneies they can.

    Still the fact remains....BOA sux....sorry, I'm in the middle of a long story with them.

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