I was just contacted by my servicer via mail asking if I wanted to join the New Start Solutions program..
Option 1: Voluntarily transfer title of your property to Nationstar mortgage
Option 2: Sell your home for less then the balance remaining on your mortgage.
The letter goes on to state, These solutions may eliminate all responsibility to repay the debt on your first mortgage. Whether you decide to voluntarily transfer title of your property or sell your home, avoiding foreclosure is significant as shown below:
1. How is home ownership transferred?.... Voluntarily-you transfer title or sell your home.... or be forced-public auction
2. You will qualify for future Fannie Mae mortgages in 2 years....up to 7 if we foreclose
3. Get cash for relocation expenses...... Yes- up to 7,500 if you qualify....or you are still liable for the debt
4. You will have time to transition out of your house.... if we foreclose you'll have little control over transition timeline with possible eviction.
To find out about New Start Solutions, Please call xxx-xxx-xxx with Access code xxx
Sincerely ,
Nationstar Mortgage
**Borrower must meet certain requirements to qualify for any of the options above. Terms are subject to change. This is attempt to collect a debt and any information will be used for the purpose. The option you choose may have negative effect on your credit history. there may be other disadvantages,including an effect on you income tax liability. If you have any questions or doubts , you are encouraged to obtain competent attorney.
My Mortgage was discharged in bankruptcy. 1st and 2nd. on Dec 2010. Nationstar was assigned mortgage before the discharge. I know they are aware of this because I checked credit bureaus. 3/14/2011 They have my loan included in bankruptcy except for one (Experian)which I disputed and had corrected they had my mortgage open 180 day or more late and owing a full balance plus interest and late charges.
Background info: Suntrust original started the foreclosure action and them sold to Nationstar.
Option 1: Voluntarily transfer title of your property to Nationstar mortgage
Option 2: Sell your home for less then the balance remaining on your mortgage.
The letter goes on to state, These solutions may eliminate all responsibility to repay the debt on your first mortgage. Whether you decide to voluntarily transfer title of your property or sell your home, avoiding foreclosure is significant as shown below:
1. How is home ownership transferred?.... Voluntarily-you transfer title or sell your home.... or be forced-public auction
2. You will qualify for future Fannie Mae mortgages in 2 years....up to 7 if we foreclose
3. Get cash for relocation expenses...... Yes- up to 7,500 if you qualify....or you are still liable for the debt
4. You will have time to transition out of your house.... if we foreclose you'll have little control over transition timeline with possible eviction.
To find out about New Start Solutions, Please call xxx-xxx-xxx with Access code xxx
Sincerely ,
Nationstar Mortgage
**Borrower must meet certain requirements to qualify for any of the options above. Terms are subject to change. This is attempt to collect a debt and any information will be used for the purpose. The option you choose may have negative effect on your credit history. there may be other disadvantages,including an effect on you income tax liability. If you have any questions or doubts , you are encouraged to obtain competent attorney.
My Mortgage was discharged in bankruptcy. 1st and 2nd. on Dec 2010. Nationstar was assigned mortgage before the discharge. I know they are aware of this because I checked credit bureaus. 3/14/2011 They have my loan included in bankruptcy except for one (Experian)which I disputed and had corrected they had my mortgage open 180 day or more late and owing a full balance plus interest and late charges.
Background info: Suntrust original started the foreclosure action and them sold to Nationstar.
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