Validation of Debt

[Faithfullymovin]

I have a question hopefully someone could answer about requesting and receiving a "validation of debt" from my lender.

Our home was set to be sold due to foreclosure on January 7th. I requested a validation of debt and did not receive it till yesterday, January 10th. The letter I received was dated January 6th. I have two questions.

1. Did they provide it too late? ( It was sent by regular mail , not certified).

2. They sent a a payment history print out. That is all. Is this a valid "validation of debt" method?

Thanks,

[HHM]

First question, so what? DV's do not/cannot stop the legal process of foreclosure.

Second...when did you request the DV?

If the payment history print out shows to who you owe the debt and how much you owe, then it is sufficient.

[justbroke]

I1. Did they provide it too late? ( It was sent by regular mail , not certified).

2. They sent a a payment history print out. That is all. Is this a valid "validation of debt" method?

I don't think you can DV when a lawful lawsuit is in process. You would have to proceed under the requirements of the foreclosure lawsuit, proceeding in court... in order to stop the sale.

Generally, when it's sale time, the lender has already obtained a judgment in order to foreclose upon the property.

The only thing I know that will stay the sale of a property in foreclosure... is Bankruptcy.

[HHM]

Also, although attorney's and loan servicers who handle foreclosure are generally considered 3rd party collectors under the FDCPA, it is not clear the underlying transaction (the foreclosure) falls under the FDCPA because the lender is exercising their security interest, which arguably is not quite the same thing as trying to collect a debt against your personally.

[Faithfullymovin]

Thanks everyone for your response.

Actually the attorney representing the lender stated that we had 30 days from when we received the letter of foreclosure to request a DV and we did respond within the 30 days.

I was just curious. I am glad that the house has finally foreclosed.

Thanks again for your answers.

[hereforinfo]

I am guessing the attorney meant that you would need to request the dv through the court.

[justbroke]

Thanks everyone for your response.

Actually the attorney representing the lender stated that we had 30 days from when we received the letter of foreclosure to request a DV and we did respond within the 30 days.

If it matters, I DV'd and responded to my foreclosure on my other home in another State. I even responded to the summons prior to the summons date. The response asked for discovery and I DV'd the attorney. I received my discovery package after the judgment was entered.

The court still granted a summary judgment to the lender.

Your mileage may vary.