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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] purchased 2nd, 1st lender not interested in talking Los Angeles area Posted by Dan on May 05, 2008 at 4:57 PM I asked this before and cannot find my post. This is in California. I purchased a junior loan on a home that needed a lot of work. The deed is now in my name, and I am living in the home. I sent letter after letter to the agency handling the loan for the lender. Phone calls were not forwarded to the person "handling the loan". Finally they responded with a non answer, they were claiming $100,000 in fees above what was reported as the Sr. Loan at auction. But the collection agency for the defunct morgage lender is insisting I have no rights to see anything but the third page of the payoff notice. Both Sr. and Jr. Loan were owned by the same lender, it was an 80/20/0 buy. 1. What if anything can go on my credit report? 2. What obligation does the lender/collection agency have to me. 3. Now that the home is worth about the original value of the 1st. Can I negotiate with them, when they take action, to pay the first at either the initial value of the first or a lower value. Did I provide the right information? Are there questions I should have asked? Follow Ups: Re: purchased 2nd, 1st lender not interested in talking Los Angeles area Heidi 11:59 AM, 05/06/08 (3) Very Interested in Knowing Findings Mark H. 8:10 PM, 05/07/08 (2) Re: Very Interested in Knowing Findings Heidi 9:01 PM, 05/07/08 (1) Re: Very Interested in Knowing Findings Mark H. 5:33 AM, 05/08/08 (0) Attorney time Rick, the Probate Guy 7:27 PM, 05/05/08 (0) Post a Followup: Name : E-Mail : Subject : Comments: : I asked this before and cannot find my post. This is in California. : I purchased a junior loan on a home that needed a lot of work. : The deed is now in my name, and I am living in the home. : I sent letter after letter to the agency handling the loan for the lender. Phone calls were not forwarded to the person "handling the loan". Finally they responded with a non answer, they were claiming $100,000 in fees above what was reported as the Sr. Loan at auction. But the collection agency for the defunct morgage lender is insisting I have no rights to see anything but the third page of the payoff notice. : Both Sr. and Jr. Loan were owned by the same lender, it was an 80/20/0 buy. : 1. What if anything can go on my credit report? : 2. What obligation does the lender/collection agency have to me. : 3. Now that the home is worth about the original value of the 1st. Can I negotiate with them, when they take action, to pay the first at either the initial value of the first or a lower value. : Did I provide the right information? Are there questions I should have asked? [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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