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Real Time Resolutions Heloc-rental property in Nevada- purchase mony loan

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aaperez1 Joined: 02 Oct 2010 Posts: 1 1.39 Dollars($)	Posted: Sat Oct 02, 2010 10:30 am    Post subject: Real Time Resolutions Heloc-rental property in Nevada- purch Like 0 Dislike 0 Have an investment property in Nevada I attempted a short sale and it was progressing well and then B of A inadvertently let it go to foreclosure. The property had a 1st loan and a 2nd HELOC loan and the 2nd loan was sold by B of A to Real Time Resolutions about 6 months prior to the foreclosure. Real time is now attempting to collect. I seeked legal counsel from their first notice and was never told about a validation of debt letter I could have sent within 30 days of their initial contact. I realize the validation benefits are gone; however it can still be of some benefit. Lastly I am trying to resolve this lien in the approximate amount of $40,000 I did send a letter stating I was contemplating a BK and offered to pay $500.00 for a full release/settlement of loan debt. Was this a bad move and what are remaining options.
Niicss Joined: 03 Oct 2005 Posts: 4834 Location: New Jersey 508.88 Dollars($)	Posted: Mon Oct 04, 2010 3:04 am    Post subject: Like 0 Dislike 0 It wasn't a bad move on your part. You will have to negotiate with the collection agency and pay off the dues if you want to get rid of the harassing calls. I would suggest you to wait for sometime and check out whether or not the collection agency agrees to your request and then you can take the required steps. _________________ Good is the Enemy of Great.

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