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Hi Eloisa - this is Nadia - if you are in Washington, I can speak with you - otherwise, I am not able to talk to you. If you have a general question, you can try to leave a comment here but I can't speak to anything too specific if you are not a WA homeowner - thanks!

@nadiakilburn-mortgageforec3635 Good afternoon . I just have some questions regarding the modification process for chapter 13.

@@EloisaAlexanderAlexander You should probably ask those to a Chapter 13 attorney in your state as I am not a Chapter 13 attorney!

@nadiakilburn-mortgageforec3635 OK thanks.

There isn't a great answer to this because some can survive and others will get released after foreclosure. You will want to talk to FHA directly (using their 566-number to reference the claim) and ask ahead of time how that will be handled. Thanks for your question!

You're welcome, thanks for the comment!

Typically, the lenders are providing you the offer that fits within your investor's guidelines for modifications but if you have a private investor, it might be possible. I would suggest taking your offer to an attorney in your state so they can give you advice that relates to your specific situation.

You can apply at any point for a loan modification. Some people apply as early as 2 months behind - I would consult an attorney in your state for a more specific answer that relates to your situation.

I wouldn't know how to answer that without more information but it's possible you have a private investor or a different type of mortgage where they don't participate in loss mitigation. I would have that reviewed by an attorney in your state.

You usually can choose your own! The lender will make clear if that's not the case.

@ how would they make it clear? In the forms or some other way? Have you seen any particular lenders that requiere their own? Also thank you for such a quick response!!

@@TahiryAcevedo No problem! They will make it clear in the final mod docs in the cover letter - I've only seen it once in 12 years so most likely, you can pick your own but this is just general advice - to be 100% sure - read through the documents and call the lender directly to ask them!

@nadiakilburn-mortgageforec3635while waiting for things to be done by the underwriter for partial claim should I still make payments? And usually how long it takes them to finalize documents?

@@TahiryAcevedo You should ask that to your lender but typically - partial claims are options for people who are already behind on payments - partial claims will bring the account current and then start your payments over again. You can talk directly to your lender about this.

Lenders say a lot of different things! So frustrating!

Hello! I UCC lien is a type of lien - yes. A lien is just the way that debt gets attached to a home and a UCC lien is a specific type.

So one form of Lien is a judgement where you’ve been sued in court and lost. Now you have a lien against whatever collateral until the debt is paid. Then there is a UCC 1 lien, which is some form of lien, right. One is against you and the UCC lien sounds like your claiming the collateral for yourself, right?

@@TJ-hh1np You should take this question to an attorney in your State - you should review it with State law since the laws may be different where you are than in Washington.

Hello! I would suggest you contact a local Title Company and pay for them to run a Title Report against the home - that will show everything that is currently attached to the house!

@nadiakilburn-mortgageforec3635 thank you! 😊 I appreciate the advice and will do that

Hello! You should ask this to an attorney in your State - the following is just general advice. Generally: they should give you a settlement letter in writing confirming that once you've paid, they will release the lien (and consider the settlement as settlement in full - if that's what they agreed to). Don't send any funds until you have a settlement letter in writing. The letter will also likely tell you how long it will take them before they will release the lien.

@@nadiakilburn-mortgageforec3635Thank you! Your general advice duly noted.

I'm not sure I understand the question and I likely would not be able to comment on this since it's too specific to your particular situation. You should be able to ask your mortgage lender when the first payment starts after the partial claim.

The judgment against your brother likely will not impact you personally but it will likely need to be satisfied in order to sell the home (or refinance the home). Please note that this is a general answer and not legal advice since I am not familiar with your situation. This is something that you should take to an attorney in your state so they can look more closely at your situation!

It can, yes! This is a Bankruptcy concept so you should review this further with a Bankruptcy attorney.

You should contact a Title company to ask for a Title Report or you can search the county records if you live in a county where they record liens publicly!

Sometimes! It depends on the particular credit union and your situation. You can ask them to provide you their Loss Mitigation package - that's the document you fill out to get the process going.

Thank you!

I'm sorry to hear that! PHH is not a good lender to work with for loss mitigation. Make sure you file an appeal and send in a Qualified Written Request (they will have given you the contact information in the denial letter) and outline (with as much documentation as possible the mistakes they made. You should also consider hiring an attorney in your State to help you.

@@nadiakilburn-mortgageforec3635 I will do just that. Hopefully I don’t have to hire an attorney . I was on the loan modification program and was told to make 3/4 payments. After being denied they are mentioning foreclosure. Thank you for your guidance and quick response!!

@@nadiakilburn-mortgageforec3635 which type of attorney should I hire??

You should contact a Title Company in your area and provide them a name affidavit with your information on it so they can have those liens removed.

A loan modification will likely change your interest rate. Loan modifications are new agreements where the lender takes your arrears and creates a new unpaid balance. They usually reset the terms (the maturity date and the interest rate) and the interest rate is usually set at the market rate. Right now, market rates are higher than before so if you modify now, you can expect your interest rate to go up. In a situation where interest rates are low and you're modifying, your rate might go down.

Thank you for your question! Technically, the lender reserves the right to request further documents but that is usually not the process. If you successfully make it through your TPP, get all payments into the lender and applied correctly - they will generate the final documents without requesting anything else. Your credit score has likely already been checked during the financial review process.

Here are two links that discuss what happens after the TPP period! I can't comment on whether or not you should be grateful for a TPP but you are correct that home retention options are not offered to everyone - you have to qualify and it is a way to get current on your mortgage without having to pay the full balance. If you have questions about it - I would recommend talking to an attorney in your state to go over everything with you. There is no flexibility in start dates though so if you're going to accept it, make sure you get your payment to the lender the first month it becomes due - thanks! th-cam.com/video/cz9ZmjIHRqY/w-d-xo.html th-cam.com/video/wYbhDjlmkA4/w-d-xo.html

Thank you for your question - sorry you're struggling with that! That's a common problem. You should see if you can contact an attorney in your state to help you find it. To try to find it yourself, locate the big debt collection companies in your area and start calling around to see if any of them are handling it. You could also reach out to a local Title Officer in your area at a Title Company - sometimes, Title Officers have information about which creditors sell debt to which debt collection agencies. If all else fails, contact an attorney in your state.

It's possible, yes! The TPP payments are trial payments, not permanent payments. Some lenders will disclose the final interest rate in the TPP agreement but if they don't, they can set the interest rate at the market rate in the final documents.

Plus they owe me escrow account, interest on it from the payoff. They could not have sent me disbursement without having paid the balance.

Thanks for the comment, congrats on winning your case! You should consult with an attorney in your state to help you do that. Unfortunately, that's not something I can comment on over TH-cam since state laws differ.

This is a little bit too complicated of a situation for me to weigh in on over TH-cam - you should definitely find a debtor attorney in your area to go over this with you. I would need to be able to review everything in detail to give you a better answer but the general response as to whether you can negotiate is - yes - you can negotiate with any lender at any time. Whether you have to negotiate with them or whether the lien is still valid would be a question for an attorney in your state.

Thank you!

Thank you!

No! Partial claims are for FHA loans. The VA did have a program for a partial claim right at the end of the pandemic but that is over at this time.

I don't have a good answer for you as that is up to the social security administration but generally it takes about 2 weeks to get a hard copy mailed to you.

Sorry to hear that! You might want to reach out to an attorney in your state to help. Sorry it has been so tough!

Thanks for sharing your experience! I'm sorry that is happening to you. They are definitely tough to work with for sure.

@@nadiakilburn-mortgageforec3635 tough to work with is an understment. They're liars and are involved in class action lawsuits and so many complaints on bbb and consumer affiars which places them at. D rating and borderline criminal

That's not always true! As long as the credit card debt remains unsecured and the company does not sue to place a judgment on the property - they will remain unsecured. Credit card companies can file a lawsuit against homeowners for unpaid debt and they can lien the property but they have to follow the state specific rules in order to do so.

Yes! The partial claim sits as a non-interest bearing lump sum attached to the Title of your home so if you sell or refinance the loan, you need to pay it.

Also I have had my mortgage 16 years they know what kinda equity I have do I need an attorney I’m peed

Hello! I wouldn't be able to comment on something so specific over TH-cam as I don't know what is happening with the specifics of the situation. I would suggest you contact an attorney in your state who might be able to help you figure out what is going on.

Try asking for the Office of the Ombudsman when you call or file a CFPB Complaint: www.consumerfinance.gov/complaint/