My 2006 home loan loan ENDS in 2058!!

[tobee43]

Tobee it's actually Fujitsu, the snapscan s1500. Check it out - it's my dream to get paperwork organized. makes PDF's. Quite expensive - the software alone license is very $$
so even tho the property is iib they can still come after me? on the 2nd too??
So you agree pursuing 2nd lien strip is pointless??

What if the 1st agrees to a new loan? or a better modify? seems like i should get rid of the 2nd while i can...$600 only!! but again it could be like throwing it away

oh! know i would pursue getting that 2nd off your back. AND if you haven't sign anything and the mortgage is iib i certainly would NEVER sign another agreement with the bank unless you are absolutely certain you to stay where you are......forever aned ever and a day or at least until 2058.

i'm going on line now to check out this fujitsu snapscan....

[InOverHead]

So, your feeling is unless im certain it's 'til death do us part' for me and this house - don't put myself back on the hook for anything with it post BK

But still try to get rid of the 2nd?

[HHM]

I still think there is a maturity date in your Note, and if you actually make it to that date, you will get a nice, big, surprise demand letter in the mail asking for the entire remaining balance to be paid.

[InOverHead]

HHM - Maybe, but this table shows each payment reducing principle until it's at zero in Oct '58.
I contacted my attorney and he the the MTG company are idiots who did not even bother to look at the MTG or note prior to sending it.
He wants to meet and go over the original Docs. He said he has a nice 15 page letter that i "will love" and he will not charge for sending it out.
He also said we can work out or own table based on the original paperwork. Hopefully my memory is correct and the loan mod in '09 didnt change the entire schedule.
He also agreed agree still a good idea to do the lien strip. Now the 2nd was a balloon. IIRC it was a 15 year note ammortized over 30.

Still would love to hear any stories of requesting the note from lender, and if they don't have it, is it as simple as going to the clerks office for a copy? does that make me liable or do they need originals?

[LadyInTheRed]

The loan was discharged in bk, right? Then the bank can't get a deficiency judgment. A loan mod doesn't change that.

[InOverHead]

Thanks Litr, glad you posted that! It was one of the primary factors in declaring BK.

There is either alot of amibuguity or else misinterpretations when it comes to this aspect of the the law. BKs/Foreclosers etc. I just see the usage of words like "should or shoudn't" scattered about frequently when in other areas of the law feel more concrete.

[InOverHead]

Re-thinking calling myself stupid on this. 3 hours with attorney digging through the GFE, original loan docs i signed and mod - there is no record of this being anything other than what i thought i signed for which is 7 years interest only. The Attorney feels teh the mortgage company is the stupid party for sending out the innaccurate table.

Bottom line is that i bought the home, realized a few years in that i was going downhill, tried to make it work (loan mod) which helped temporarily, and ultimately relieved myself ofthe obligation by filing bk. So...i don't feel stupid, a little unwise with timing but i tried to do the right think and kept up payments all these years.

What IS dumb is that mortgage company will not work with me, says they have no product (no modification) available for a discharged property. I tried explaing that i would like to stay and work out something reasonable that it is in there interests as well - it's an appreciating market so the longer im there the more the can sell for down the line. No luck.

I have called off the 2nd lien strip - there is no point. Now just try to save as many months as possible.

Any tips/tactics for stalling post BK are greatly appreciated.