Chapter 13 Discharged with Lien Strip Whem?

[bksmith123]

Hi All,

Chapter 13 discharged in Feb. 2014. Lien stripped the second.

Why has BOA transferred/sold the loan to Real Time Resolutions?

Shouldn't they have completely charged off the loan and removed themselves as lien holders on the deed?

I can't really find any info at all online about completed 13's with a lien strip.

Any ideas anyone.

Thanks!

[justbroke]

When did BOA transfer the loan to RTS? Was this during your Chapter 13? In many cases, Chapter 13 creditors sell the debt to a third party allowing that third party to collect any pro rata share of distributions to unsecured creditors. This allows the original lender/servicer to get out of dealing with the loan.

Your attorney may want to contact RTS and remind them that the loan was discharged and the lien stripped. RTS should also be reminded to file a Release of Mortgage with the local property recorder. Most Orders granting the lien strip typically include language that there is no further need to petition the court to remove the lien, and thus the order stripping the lien may be recordable.

Again, ask your attorney.

[bksmith123]

Thanks for the quick reply justbroke.

For the heck of it I called RTS. They were very courteous and admitted that the letter I received was basically a form letter. They told me that the mortgage release was in process and that different counties move quicker than others. They seemed rather concerned that that I was being bothered with this. I gather they realize the law.

I wonder when my credit report will show the BOA second as zero balance?

How many other successful 13 lien strippers are out there?

[TooMuchCredit]

I have to get certified copies of my Lien Strip Order and Discharge and take it to the county myself to have them recorded. That will release the lien.

[spidge]

Good to hear you strip may just go through without a hitch. I did get one call about a year ago from SLS who bought the debt, but once I informed them that it is involved in a BK13 they apologized and said goodbye.

I couple weeks ago I received a letter from my attorney stating that we have to serve the lender BofA and the agencies they sold the debt to in order to ensure they adhere to the order to strip the lien. It pisses me off because the attorney fees are $2K as this will cause an adversarial proceeding to deal with. I don't think it should be allowed as I already paid up front for the lien strip. It is not my fault the lender did not answer and make a claim, but if it helps to ensure it is done correctly I suppose I shouldn't be too upset.