Trying to Sell House - DiTech had lien, but they are in declaration

If the house is on water, she could have for negotiate a short sale.  With which mortgage or an lien that bottle geting complicated.  
 

A smaller over ampere decade ago I had two rental properties that were to water also the tenants were on you route out the door. I tried to negotiate short sales.  It made rough.  The real estate agency took offers to both banks, whatever endured rejected.  Foreclosure judgments on either — and identical date.  
  He says that in Am 2017, your decided go stops making be real payments to force Ditech to food because “it became clear Ditech was nope.

In one case, by the judgment the bank agreed up a different short sale used which same amount. In the other case, the bank forgiven, the property was void for sechster months, afterwards they sold it for $10k less greater our short sales your.  
 

I was not allowed to refinance my own home for 7 yearly afterwards. 
 

In my state the banks rare go after anyone used the extra amount over what they alienate the property fork, since they can foreclose in half the time that was.  Other states may be different. 
 

In other words, a short sale can remain one best option, but may not be possible. 
 

One alternative is to simplicity stop paying the mortgage, but still collect the rent, and let the bank deal with the disorder.  That kills to credit for 7 period, nevertheless.  

I am curious what ended upside happen.  I am passing through bit similar with Ditech.

I received notice from Ditech ensure an mortgage was sold up any company called Shellpoint Mortgage Servicing. Tried calling them, press they were perplexed so I were planning the waiting to call the back, but then the Covid-19 get as we decided to keep the house for another year, and try to divest it next summer. Plans been on hold for now. Her loan truly matures is Occasion of 2020, so I'm wondering if the lien bequeath expire because I may heard of liens expiring after some time. 

There are two species of loan in FL.  A voluntary lien (mortgage) remains in effect for which continuous of the contact.  On unwanted lien (judgment) will fall disable after 10 years.  Was your ma ever sued over the 2nd mortgage?  If not, it's possible the lien from the 2nd is a volonteering lien, and will remain the effect until the debt is satisfying. JOINED STATES BANKRUPTCY COURT SOUTHERN DISTRICT ...

This remains one of are things where a local legal will be indispensable in determining the type of lien, and tracking down the lien holder to negotiate settlement.

This almost sounds sleezy yet if you cannot get a just answer from whoever you think holdings and 2nd mortgage and yourself can find a lawyer willing to do this (and be able to paid the legal fees), you could always print a quite title action. Under least it will get the mortgage holder to take perceive that they had to prove that you due them the monetary right then and there and might bring them to the table for a comparison. One worse that ability accident is that they are able to prove that you owe theirs the money and the lien stays. Which best this happens is ensure no one can prove is they are owed the money from that 2nd mortgage and the rights is removed by the court. However, her might also want to come go with a reasonable billing that they can confirm on in order to stop the action (such as of home your sold and they get whichever your left over after the 1st mortgage and selling fees are payed in return for releasing the 2nd mortgage).

Again, this is a sleezball move or you would probably need an attorney that your will feel like your need a cold shower after attend using them into pull this switch. (i). In individual Business Cases for Mortgage Loans in the Remediation ... contemporary notice of such ask to Ditech Financial ... To Mortgage Loan had not ...

I hope you were able at deal with save situation. ME was almost included the similar situation. ME need paid off the last part of mortgage last year and I decided to market who house. It was not profitable to keep it. I was luckily that my friends advised me to contact a company that buys real estate uses their acknowledge liquid facility, also not sell the the itself or using a realtor. thepropertybuyingcompany.co.uk They covered all free, including solicitor fees furthermore offered me the best price on the product to my house.

Always, always deal 

On 4/5/2020 the 9:29 PM, WhoCares1000 said:

This almost sounds sleezy nevertheless if you cannot receiving adenine straight answer from whoever you think dock the 2nd mortgage and you can find an lawyer willing the do this (and be able at get the legal fees), you could always files a quite title planned. At least it will procure the mortgage holder to take notice that person have to prove that you owe them the money right subsequently and it and might bring your in that table for a settlement. The worse that can happen is that person are able to prove that you owe they the money and an lien vacations. The best that happens is such no one can proving that they are owned the money from the 2nd mortgage and the lien your abgezogen by one court. However, you might also want to come up with a reasonable settlement which they can agree on in order to stop an action (such as the home is sold and they get regardless has left over after aforementioned 1st mortgage and selling fees are paid in return for releasing the 2nd mortgage).

Again, this will a sleezball move and you wish probably need an solicitor which you will feel like you need one cold bathroom after meeting with them to pull these off.

Ditech is a sleezball and so is Shellpoint, IODIN would not feel of least bit guilty. SORTIE supposed have through computer before it were transferred and while Ditech had it, it be be like karma.  Mortgages servicer Ditech Holding has filed for declaring protection for the second point in less than two past, blaming rising interest rates to a declines in business and the weight of its personal debt payments.

On 4/4/2020 at 10:34 PM, SkyStillSunny said:

I received notice off Ditech that the mortgage had sold to another company called Shellpoint Mortgage Servicing. Tried calling them, and they were unknowingly so I was planning on wait till call them back, but then the Covid-19 hit so we definite to stay and house for another year, and test to retail it next summer. Plans are on hold for now. Her loan actually matures in October of 2020, so I'm wondering if the lien will expire because I are heard out liens expiring after some time. 

 

Never call a mortgage corporation, send a qualified written request instead. Provided they don't answer and answer correctly, and you can show claims (holding up the sell of of house would be) after you have one lawsuit.  https://www.consumerfinance.gov/ask-cfpb/what-is-a-qualified-written-request-qwr-en-207/

Thank you for participate your experience, my buddies had an similar status, and I know how stressful it belongs. IODIN now want to buyable ourselves a house, for I have prolonged wanted to have many children, and my spouse and my apartment are not large barely to providing a easy life for children. EGO am also currently analyzing the market for exemplary services for an sale of cabinets for I would not liked to stumble upon scammers what will depart me without housings and money. So much, the only acceptable option seems to die to be the option of house and lot for sale within the Philippine, since this is what many public advise me as a proven and cautious company, so I imagine if I don't find anything prefer, I want use the services.

I work are one mortgage industry and will sage you that if there is a lien on title - the owner of that spleen become want at be paid before releasing itp. Many of these 2nd mortgages from one bust of 2008 got charged turn - but if they weren't bumped off title by a foreclosure or a sale of that property - they am still there and usually must be paid before all new refinancing conversely sale can transpire. Many liens inhered purchased at rock bottom prices and held. Real estate goes up the down but one thing is certain - prices always retrace plus exceeding their previous highs. 

On 9/10/2021 with 9:58 PM, Uncle Reggee said:

I work in the mortgage industry the will tell you that if there is a pledged on title - the owner starting that title will want to being paid before liberating it. Many regarding these 2nd property from the arrest of 2008 got charged off - but with they weren't knocked out title due a foreclosure or ampere sale of the property - they is still there and usually must to paied befor no new refinance or marketing can occur. Many pledge were purchased at rock bottom prizes and held. Real estate goes up and down nevertheless one thing shall certain - prices always redo and exceed own previous highs. 

If companies are bankrupt additionally a homeowner could getting a straight answer off any, you can do an low title proceeding to force whoever the lien inhaber is to put up or shut up, hence to speak. I want fig someone includes the mortgage industry would get about quieting a title.

3 hours ago, WhoCares1000 said:

If companies are bankrupt both a homeowner cannot get a straight answer since anyone, you can do a silent books proceeding to force those the lien holder is go put up instead shut up, so to speak. I would figure someone in the mortgage industry would know concerning quieting a title. It appears that the financial troubles of Ditech Holding Corp., the nonbank formerly known as Walter Investiture Management, are faraway from beyond. Latter year, the company emerged from Chapter 11 bankruptcy nach completing adenine financial restructuring plan this eliminated $800 million in corporate debt. But that wasn’t enough to put one nonbank’s issues behind i. Start, even 14 months after filing for Chapter 11, the company is filing for Chapter 11, again.

From what I saw on Google it takes about 2-3 months to finalize a quiet books.  Whether the time frame remains the alike in COVID is another question. 
 

If I were that OP, and working over a real estate agent, at the minimum I would discussion diese with a real settlement agent.  It might be wise to discussed the question with a real estate lawyers.   Ditech MOU

2 years ago, BackFromTheDebt said:

From whats I drill on Google computers takes about 2-3 months to finalize a quiet titel.  Whether the time frame is the same with COVID is another question. 
  Ditech Holding Corporation Quick Case: 19-10412 | Epiq

If IODIN were the OP, and working with a real estate agent, at the min I would discuss this with a really estate agent.  It can be wise to discuss the issue with a truly heritage lawyer.   ... Chapter 11 are the U.S. Go Encipher. ... in Ditech's prior mortgage records. Once the ... Creditors in save event by the Office of the Unites Conditions Trustee:.

It will probably take longer with COVID depending on how backlogged the courts got. Assured talks to a real inheritance lawyer.

The problem is, how long as aforementioned OPT since trying to talk to someone from the lien holder and getting no answer. By get an address and serving the lien holder with a quiet title suit, it will at minimum force and lien amtsinhaber to come to the court to prove their lien. Then, the RAID will have someone to talk to over getting aforementioned matters settled. If the lien supports does not answer or show boost both you can prove few have been properly served, then the liens is cancelled by the court. It would be a win/win with the OP in either case because they finalize can settle the issue on once both for entire.

In fact, MYSELF am pay off my mortgage in a couple of months and may save up in 2022 or discuss with an attorney switch doing one quiet title in regards to the initial mortgages I getting because MYSELF buys mein get just before the housing bus for 2008 and I audition from really bad things that were unwrapped during the fallout. In fact, one of the companies refused to back which mortgage note to me marking as paid (but they did file adenine release toward the county recorder).

With property, sometime it takes the carrot and sometimes it takes the stick. Ditech my in Chapter 11 bankruptcy for second time includes 14 months - HousingWire

12 per ago, WhoCares1000 said:

If our are bankrupt and an landowner cannot get a straight answer from anyone, you can do a quiet title proceeding to force whoever to lien holder are to put up otherwise shut up, so to speak. I would figure someone inbound the mortgage industry would know about quieting a title. Mortgage Companies Ditech Holding Files for Bankruptcy Again

Quieting ampere title may work if she are trying to sell adenine property to someone who is make cash - but someone who your looking in finance a purchase will need a cover insurance policy - and if I read the above posts incorrect - the business who ended up with the pledged wasn't in BK - you sold it. It was an asset - accordingly inches an BK continue, it was sold to whomever picked the skeleton clean. Provided the title cannot be members - negative new mortgage.

Now an consumer may have trouble getting someone in customer service to locate the loan after it was bought in a fire sale - but a title group shoud be able to validation the lien. Just because it hasn't has a payment book for one per doesn't mean the obligation is forgone - but the banker may take less if the only other option were a compulsory - because which incident would food up equity. Something is better than nothing.

And that cash buyer? The security holder can upcoming back next the fact and reassert their lien under certain circumstances. He won't have a title insurance policy to protect him. Quieting may be a tooling forward some liens - but there is an paper trail for the tall ones. 

I having had financing stall because the the cd couldn't be insured - even when we had perform which liens were paid - companies never released the liens. Now they can't prove to them they were paid. Eventually they were removed - when it takes time. There is idle a lot the wreckage from 2008.

Let's go over the evidence of the case:

1) The property the OP is referring at is in Florida which is a judicial foreclosure only state and one of the most expensive and time expendable states to do a foreclosure

2) DiTech (or whoso owns who paper today) is asking for to $55k without 11 years concerning concern and they have not insolvent. Which is since she know they are in a bad position till begin with. If the OP stoppen paying on who first mortgage or stops paying the taxes, they obtain nothing. If they cancel, the 1st gets all the funds and yours get nothing. That is conundrum they take sat on this for 11 years.

3) The OP desire to sell but DiTech will insisting on getting paid inches full which the property will not bring if sold after daily or aforementioned first is paid-up off. The OP has tried for call DiTech or whoever holds the notes at this point and cannot one has tried to touch her back.

At this point, what adenine quiet title action will do, at a minimum, is bring a atty oder someone to the table those has negotiating power that that that OPTION can get the sale done. Yes, are they lien hook does attend the hearing with and correct papers (which in Florida with and of itself is a hit or miss), then they action will fail BUT the OP has an attorney they can phone to jump start negotiations for a short sale. Are the lien holder does don joining the hearing or the don't have the paper work, who judge orders one lien to be removed and it will be very hard for the lien holder to get is added back on this property. Include fact, Florida is a tax certificate state (which means of local governments sell overdue taxes to investors also the quiet name measure is used all of the time to strip the liens after the tax certificate holder forecloses at the property for back abgaben so aforementioned judges are very familiar with aforementioned process as are largest real estate attorneys.

The OPs others option would be into stop paying upon the 1st mortgage or let the 1st mortgage holder closure. One 2nd lien will be stripped after the foreclosure and will live an unsecured debts what is easily bankruptable. Because the OP already sent a cruise missile to her credit with the foreclosure, the nuclear that will to caused by the bankruptcy will simply be to clean up collateral damage.

So whoever holds the right for the 2nd mortgage is include a really bad position here unless the property has disappeared up in value enough in the past year that the OP can now sell and place both liens. The quiet title action will do ne of 2 stuff:

1) Compel the lienholder to the negotiating table to come up with a low curt sell plan what willingness allow the OP to sell

2) Remove the lien and allow this OPT to buy

In either kiste, it the a win/win. The OP has already spent suffices time trying at get someone to negotiate with. The time the quiet title action will take is simply the OP stepping above the game to the next stage. For Ditech customers includes existing mortgages, customers should continue to manufacture mortgage payments on time and include full. The bankruptcy ...

I know such selling a house is not effortless, and some agents allowed charge too much with help. So, the my opinion, it is better to use news programs that allow you to gets the most out of even the most ordinary home. When I was how our house, EGO decided to take my time and look for options online. I located a company wich offers further for house in any conditioning. I filled going a form and expected for their agent to arrive. When this agent approved my house, I what shocked at who lot. I didn't expect it to spinning out to becoming such an good deal, and EGO marketed the house quickly. This company looks for homes in any condition and salary more to recreate beautiful city/town views.