Deed of Trust

Archive for March, 2007

Question: If the Bankruptcy lawyer is too lazy to take things off your credit report?

his job I am told but 2 years later I took everything off then I go to refinance and the lawyer at new bank says there's a lien for 21000. Meantime his broker promised me the world. Now it's been 2 1/2 months of holding 30,000 dollars of mine. Will not return phone calls I have called numerous times. I am disabled and now my mortgage went from 807 to 2100 I make 1200 a month. I put 140000 aside to pay mortgage till credit goes up but, don't look good to me I am broke. Then he paid the Bankruptcy lawyer behind my back 450.00 to reopen the case which I swear wasn't was not on my credit report. Or in the house of deeds. He wants more he told me. Does he get it? Isn't one price it. If he did do it? . I called the Court House it was written off. Will legal aid take care of this? I can't afford a big lawyer and don't trust anyone after 3 predator lenders and two lawyers who are playing with my mind. At 18 percent a day. Legal??? Please someone.

Answer: You can obtain one free copy of your credit history by requesting it through any of the three major reporting agencies.

You should write the three credit reporting agencies (Trans Union, Equifax, and Experian). Tell each of them what happened.

Next, know that your credit history is not removed for 10 years from the date of your final payoff in bankruptcy cases.

No one (except a representative of the credit reporting agency) can take things off your credit report.

You didn't need to pay a lawyer to pay off your debts. You should write a check directly to the interested party (lender)and deal directly with them.

Go to your local courthouse and speak to the States Attorney about this. He can put pressure on the lawyer.

Good luck.

Trust Deed Principal Reduction Program

Question: Is original NOTE secured by Deed of Tust needed to collect?

What happens if the Lender sold the Note to an investor, but the investor "lost" the note, he cannot produce it. Or the original lender don't have the original note? Is the original note needed to collect on the debt. In this case secured by a Deed of Trust. Isn't it like trying to cash a check without actually having the original check in hand????? I mean, how do I know that I am paying the right person if they cannot produce the note. Also, can they foreclose on me if they don't have the original note? Anyone?

Answer: If your lender sold the note to someone else, then there should be a paper trail & likely the assignment would have been filed with your local clerk's office (city hall/property records office) - but depends on the state and what their requirements are.

Even without the absolute first original there's always multiple copies that will indicate your promise to repay, and a lot of times a copy will work just as well. I would call your lender and ask for copies of the documents relating to the sale of the note, to ensure that you make payments to the correct entity (and get it in writing from them).

It's different than a check - the note is evidence of your promise to repay the loan, not the actual payment you're giving them toward the loan. Don't take a chance in not paying - confirm who it is you've got to pay, and pay them.

Los Angeles Trust Deed investors

Question: Joint Mortgages - Bad credit rating but good deposit?

Hi

Answer: Credit scores vary between institutions as they have different criteria. Try getting a copy of your credit report from Experian and Equifax, which are what most banks will use as a base. If you get the postal one it should cost about £2 - the online ones can be more expensive.

If you are going to apply for a mortgage, try shopping around for the best rates. A comparison site like http://www.fool.co.uk will have a range (and has dedicated discussion boards where mortgage experts might be able to help.). Discuss it with your bank's mortgage advisor, who should be aware of your finances and able to advise on whether the bank can supply a mortgage. You might find that since you were discharged less than 5 years ago, you can't get as good an interest rate.

One other thing to consider is that if your husband's credit is good, would he be able to get the mortgage on his own, against his salary without you being on it? If you use the full deposit that might mean you can get a better rate.

Seriously, you need to get proper financial advice. I'd suggest you start with your bank, and then see what else is out there if you aren't happy with the answer or think you can get a better deal.