Discharged Mortgage sold before foreclosed

[LetsClose]

My Ch 7 bk was discharged in March 2010. My mortgage was discahrged with this BK. I continued to have discussions with my lender to attempt to work out an arrangement where we could make a reduced payment and stay in the house. We had worked up documents to execute, but before this happened I was informed that this loan was sold to a new bank.

The origininal lender was also set to get a judgement of foreclosure on Nov 16, but if we had reached the agreement before they sold the loan, that was to be halted.

I received a letter from the new lender with instructions on how to make my "next payment". Is this a violation of the FDCPA? Do I have recourse against this new lender, who bought a discharged mortgage?

[tobee43]

letsclose....didn't you say you were wanting to keep the house??

is the new lender pursuing your for any back payments or costs or fees?? also did you reaffirm the loan and have that in writing? sorry to ask so many questions, but i just want to make certain your situation is totally understood.

[LetsClose]

We did not reaffirm the debt. We cant come close to making the original payment. We negotiated a "loan mod" (even though we all knew the debt was discharged)
with the original lender, that would have reduced the payment to 25% of original for a year, with an upwrad adjustment for the next five years. We were ready to execute docs, and the original lender sold the loan to anaother bank.

I have yet to communicate with the new lender (just received first letter asking for payment today). I do not even know if the new bank is aware that the loan was discharged in BK. I was just wondering, first of all, if they are violating the debt collection act by even asking for a payment to be made.

Maybe they will be amenable to working something out also.

[tobee43]

We did not reaffirm the debt. We cant come close to making the original payment. We negotiated a "loan mod" (even though we all knew the debt was discharged)
with the original lender, that would have reduced the payment to 25% of original for a year, with an upwrad adjustment for the next five years. We were ready to execute docs, and the original lender sold the loan to anaother bank.

I have yet to communicate with the new lender (just received first letter asking for payment today). I do not even know if the new bank is aware that the loan was discharged in BK. I was just wondering, first of all, if they are violating the debt collection act by even asking for a payment to be made.

Maybe they will be amenable to working something out also.

letsclose, since i believe you would like to retain the house...one would think..or believe that if the agreement was signed sealed and delivered prior to the assumption of the mortgage by the new lender...it would or should have transferred with the loan.

first, if you have those docs...i would contact the new lender and made certain they also have a copy the paperwork...and see what they say. if the documents were signed prior to the re-assignment, i really think you'll be ok...heck...i'm not thinking they want yet, another house back...

i would call them first thing monday! let us know how you make out..

[LetsClose]

Unfortunately the docs were not executed with the first lender. I tried to get them to complete the docs, but they informed me the loan was sold and they could not continue.
I could show the new lender the unexecuted agreement with the first lender, and see if they would consider a similar agreement.

[tobee43]

Unfortunately the docs were not executed with the first lender. I tried to get them to complete the docs, but they informed me the loan was sold and they could not continue.
I could show the new lender the unexecuted agreement with the first lender, and see if they would consider a similar agreement.

yes, i would certainly give it a try...like i said, it's likely ....real likely they don't another house...and would rather you stay and pay! best of luck...let us know how you make out with the new bank!