Debt Forgiveness- Praise/Rant

[Biker]

Been trying to get back here to reply to posts. Work is busy and I've been helping my neighbors. But wanted to share this!

My neighbors got a letter called" Debt Forgiveness" in the amount of $176,486.19 yesterday. What a blessing~
-And-The land purchased with this money they keep free & clear! FTR, second was a home equity loan, that's why. Downside? The other lender remaining is refusing to allow them to make payments despite NOW being able to do so (since they have only one loan remaining). Debt forgiveness equates to the same as if you sold your home. Any dings to your credit report can be cleared up by the debt forgiveness letter from what I gather

The debt forgiveness monies were designated FOR THE PURPOSE OF KEEPING PEOPLE IN THEIR HOMES, not throwing them out when they suddenly have the money to remain in their homes making payments. Both lenders derailed 3 buyer attempts of these folks to short sell their home. Drag their feet,creating misunderstandings. Current buyer offered $10 thousand MORE than what the home is ACTUALLY WORTH. Why would any company refuse money PLUS EXTRA? Obviously they will benefit financially by refusing. Fraud taking place is -FDIC will bail the Lenders out not just the loan amount, but FAR BEYOND THAT AMOUNT. A lie that was presented to the taxpayers by the FDIC to believe the bailout to be for the amount owed.

Example: Joneses bought it for 100 thousand, paid 30 thousand so far.. FDIC pays lender 70 thousand (balance left) & pay the 30 thousand dollars already paid by homeowners. -AND- Lenders seize the home themselves, sell it for profit. Current guy still waiting though they won't allow him to buy it, even for 10 thousand more nor allow the homeowners to make monthly payments. The debt forgiveness served it's purpose so longs as the FDIC and the Lenders would allow it.
Lender recorded a default  so it's still early enough keep homeowners remaining in their home.


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[Biker]

In between all the different Reps we obtained, we finally got a consistent person who was a Supervisor. Upon her exclamation that "Everyone's got problems. My Mother has cancer, it's terminal .I was able to witness to her. This went on for 3 months or more. Other Christians at work witnessed to her also
Faxed her my weekly menu with recipes, sent forks over knives dvd, scripture and health related info.  Today She stated she had no influence upon the outcome concerning my neighbors when I called to thank her.. She gave God glory her Moms cancer disappeared in some areas. Mom's eating whole foods, organic. Avoiding certain foods. Cycling like crazy. No chemo or radiation has been started, thank God. They are seeking a church home now.

My aunt died last week of a heart attack, she was 85 and had a ball of cancer hanging from her underarm arm for the last 9 years. Wouldn't see a doctor for it after the initial diagnosis. Learned x rays incite the cancer to grow and how damaging chemo and radiation are. Instead she began to eat organic and whole foods. Drinks spring water, very little plastic in the house. The lady was very educated about nutrition, products in the home, and how cancer is big business. She exercised alot in the garden and walked miles a day. It started growing larger a few years ago but didn't hinder much of her life.  She was christian.

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[Castor Muscular]

The other lender remaining is refusing to allow them to make payments despite NOW being able to do so (since they have only one loan remaining).

Both lenders derailed 3 buyer attempts of these folks to short sell their home. Drag their feet,creating misunderstandings.

Same exact thing happened to me.  I couldn't make payments for about 8 months, and then I got a job and could start making payments, but the bank wouldn't accept them.  So I moved out and just let them foreclose (it took over a year past the date they originally scheduled to foreclose -- I could have lived in the house another year rent-free).    Meanwhile, they bank turned down every offer for a short sale, with no reasons given, but a lot of excuses and manufactured problems. 

 

[Biker]

The other lender remaining is refusing to allow them to make payments despite NOW being able to do so (since they have only one loan remaining).

Both lenders derailed 3 buyer attempts of these folks to short sell their home. Drag their feet,creating misunderstandings.

Same exact thing happened to me.  I couldn't make payments for about 8 months, and then I got a job and could start making payments, but the bank wouldn't accept them.  So I moved out and just let them foreclose (it took over a year past the date they originally scheduled to foreclose -- I could have lived in the house another year rent-free).    Meanwhile, they bank turned down every offer for a short sale, with no reasons given, but a lot of excuses and manufactured problems.

I am sorry you had to go through all that. Our neighbors weren't kicked out for 2 years due to a mix up with the Title. We told them to wait until the Cops showed up since they had no where to go except  the nearby KOA campground (which is actually really nice, btw)

Hopefully you like your new place better. Did you get cash for keys?

 

[Castor Muscular]

Hopefully you like your new place better. Did you get cash for keys?

It's a rental house that is not kept up very well.  It's much bigger than the house I bought, which is nice, though.  I don't understand the cash for keys question. 

 

[Biker]

Hopefully you like your new place better. Did you get cash for keys?

It's a rental house that is not kept up very well.  It's much bigger than the house I bought, which is nice, though.  I don't understand the cash for keys question.

When they foreclose in our area, they often leave a note or send someone offering you a few thousand or more to clean the dwelling and leave it in mint condition. Except in order to receive the check, they return to inspect the place.  then decide. I've heard of some folks getting stiffed