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    #1

    Notice of Assignment, Sale or Transfer of Servicing Rights

    Our home loan was included in our BK, but we have stayed current on payments and did not reaffirm.

    It shows IIB on my credit report, and we are probably about 10,000 upside down on the loan using fair market values in the area for comparables.

    Got a letter in the mail today from Chase Home Finance about transfering the servicing of our loan from them to a company called IBM Lender Business Processing Services effective 7/1/2010.

    I was wondering if they may try to forclose or anything even though we are current.

    Anybody have any similar things happen to them or have heard of this happening? If so what was the outcome?
    CH 7 filed on 6/12/09:cry:
    341 Scheduled on 8/11/09:blink:
    341 Concluded @9:20 8/11/09...Now begins the waiting game.:dry:
    Discharged on 10/14/09:clapping::yahoo:
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    #2
    Originally posted by LTN6571 View Post
    Our home loan was included in our BK, but we have stayed current on payments and did not reaffirm.

    It shows IIB on my credit report, and we are probably about 10,000 upside down on the loan using fair market values in the area for comparables.

    Got a letter in the mail today from Chase Home Finance about transfering the servicing of our loan from them to a company called IBM Lender Business Processing Services effective 7/1/2010.

    I was wondering if they may try to forclose or anything even though we are current.

    Anybody have any similar things happen to them or have heard of this happening? If so what was the outcome?
    As long as you stay current, you are under the original contract. This normally says, you pay, you stay. They cannot just say, we suspect you may not pay us, so we are taking your house. If and when you file, means nothing unless you miss a payment. THEN the load can be called.

    Understand, they don't want your house. They are not Realtors. They want your payments. Do NOT reaffirm, as long as you can pay. They have no legal recourse. 'Hub
    If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

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      #3
      Thanks for the reply. Just curious, since they will be a "new" creditor, might my mortgage show as "paying as agreed", rather than "IIB" once the transfer is complete?

      Yes, I guess I am looking for the proverbial free lunch!!!
      CH 7 filed on 6/12/09:cry:
      341 Scheduled on 8/11/09:blink:
      341 Concluded @9:20 8/11/09...Now begins the waiting game.:dry:
      Discharged on 10/14/09:clapping::yahoo:

      Comment

        #4
        Originally posted by LTN6571 View Post
        Thanks for the reply. Just curious, since they will be a "new" creditor, might my mortgage show as "paying as agreed", rather than "IIB" once the transfer is complete?

        Yes, I guess I am looking for the proverbial free lunch!!!
        Probably not, but one can always hope! Usually when they transfer, all the pertinent info transfers as well.
        Filed Chapter 13 02/2006 - Confirmed 05/2006 - Discharged 09/2011
        I'm not an attorney. My replies are merely suggestions or observations, not legal advice. As always, consult with an attorney before making any decisions.

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