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mpbama65 · Joined: 22 Apr 2009 Posts: 1 2.76 Dollars($)

Hi, I had my mortgage with Chase Home Finance and haven't made a payment in a year to them. I went through the loan modification merry go round with them to no avail. About 3 months ago I recieved a notice from Real Time Resolutions of Dallas Texas who state they have taken over the mortgage. They seem to be a debt collections agency. Chase claims they have charged off the mortgage and I'm wondering what Real Time can do? It's not a second mortgage its the original. I live in Michigan and my understanding is Foreclosure is as far as they can go. I've been in mortgage limbo for a year. Any advice?

savior70 · Posted: Thu Apr 23, 2009 7:39 am Post subject:

Hi

If the mortgage was charged off, the debt collection company has the rights to collect the debt from you. They may foreclose on the property or may get a judgment against you or can place liens on the property.

Guest

Yes, It is a collection now. However, it is unsecured and chances are they will not take you to court to collect. They may just be a pain for some time. It's a numbers game to them. Real Time paid pennies on the dollar for your bad debt so if you want them to go away for good negotiate a small payoff for the bad debt. Depending on what State you are in, they may have nothing but hope that you will pay them something, anything. Remeber, Chase is a pretty big lender and if they felt they could of collected anything they may of kept it in house. Real Time Resolutions are bottom feeders. Spend a few bucks and consult with an attorney.

Guest

Hi, I was with Fremont Investments they went bankrupted and sold my mortgage to two buyers. They gave me a 60/40 split, which at the time I had no ideal of what as going on. make a long story short, I recieved a loan modification on the big loan and they sold the lower loan to real time solutions. I then started paying Litton for six months with a promise of a loan modification, nevertheless they sold it to real time solutions I am now unsure of what to do. i do paid the other loan ontime and have been for over a year. Can you please tell me what to do. anxious in Georgia.

Posted: Sat May 23, 2009 12:15 pm Post subject:

Hi, I was went Fremonts Investmens, they went bankrupted and sold my mortgage to two buyers. Fremont gave me a 60/40 split, which at the time I had no ideal what that was. Make a long story short, I recieved a loan modification on the bigger loan and they gave the smaller loan to Litton, after I paid Litton six months on time they promise me a loan modification which I never recieve. the next then I knew my smaller loan was then trsanferred from litton to Real time. what shall i do i donot want to go through the same thing with real time This is very upsetting to me. Please give me adviced

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

Probably your second loan holder will forclose or the collection agency will forclose. Only way to save your house at this time would be to pay the second lender. I know thta may not be an option at this time.

Have you received anythign from the collection agency.

Guest

I have not received anything from the collection agency. What will happen to the first mortgage that I am paying on. It is the same house two different mortgage companies.

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

I think once it goes to the collection agency, they will start asking you to pay the money. One way woudl be to negotiate with them and see if they accept 50% of the pendign payment. If you cna pay that off then you are left with your 1st mortgage.

Posted: Sun May 24, 2009 2:51 pm Post subject: RIPPED OFF

thank you for that response, but can they get the first mortgage company to take over the debt

Guest

In 2/08 I entered into a notorized real estate agreement with my sister's mother in law to pay her 160.00 a month on a 13000.00 balance. After spending several thousand dollars getting the house liveable, They bring me this work sheet from real time showing I will be paying 120.00 for the net 30 years plus major interest. Now there is a divorce going on and they are trying to get me out of the house. Biggest problem is since I'm not on the original loan they will not speak to me at all. Until I moved in the house has been empty and not paid on until I moved in. Please help with any advice Desperate and running out of time

Guest

I was looking to see if RTS is legit. My sister in law just got a modification from real time solutions in the mail for 25 years and a 550.00 a month payment. half of what she had before. 0% interest. I hope this helps. She hasn't paid a payment in 18 months, chase was the original mortgage company and wouldn't help them either. Real Time Solutions seem to want to work with them. Leave a message. They are amazed this finally came in the mail. They live in Wayne County Michigan where there has been a temporary stop to sheriff removal of foreclosures, but people are still losing their homes here daily.
Good luck to you all.

jenkin7 · Posted: Thu Jul 02, 2009 12:57 am Post subject:

Hi Guest,

Since the second mortgage has been sold off to the collection agency, it is unlikely that the first mortgage company will take over that debt. The best thing to do now is, to negotiate with the collection agency and reach a settlement with them. As the first mortgage has been modified, just keep making the payments to save the house.

Hi Starrlyn,

Since you are not on the mortgage, the lender would not want to talk to you. Is it possible for you to refinance the property in your name and take over the responsibility of the loan as well as the property? Will your sister's mother-in-law allow that? If she does not, then you will have to contact an attorney and look for a legal solution to the problem. In that case, the notarized real estate agreement you signed with her, will be very crucial.

Hi cOR,

It seems that the original mortgage company, Chase has sold off the debt to Real Time Solutions for collections. If you think they are willing to work with you and offering you a good deal, you can accept the deal. This will help you in paying off the debt, which will save your credit from a negative impact. However, if you are not sure about the legitimacy of the company and want to know whether they have the right to collect your debt, you can send them a debt validation letter.

Guest

Hi , I am in a Pickle!! Countrywide sold our second mortgage to Realtime soulutions before they sold our first to Bank of America.. the loan amount is 16000 now they want to foreclose!!!! can they and if they do how long to vacate? We have been here 22 years and don't want to be forced out.. HELP

savior70 · Posted: Tue Aug 04, 2009 3:19 am Post subject:

Hi,

If you fail to make payments on time, the lender has the legal right to foreclose on your property. You can stop the foreclosure by continuing to make the payments on time. Have you got any foreclosure notice from the lender? It should be given in the notice how much time you have got before the house is sold at sheriff's auction.

If you cannot afford to make the monthly payments, you could have tried to get your loan modified. Did you check if you qualify for a loan modification program? It could have helped you by reducing the amount of monthly mortgage payments.

Guest

I had a mortgage and the second was transferred to Real Time Resolutions before I was really struggling. I ended up losing my home to foreclosure in Michigan after losing my business there- it sold for 1/2 of what I paid for it. I moved out March of 2008. Real time Resolutions started calling me about 6 months ago - randomly, but more often now - leaving a message they are a debt collector - referring to my old property address. My second mortgage was about 80,000.00
I have been out of work since losing my business. Is there anything they can do? Is there anything I should be doing?

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Chase assigns mortgage to Real Time Resolutions