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Old 10-25-2009, 08:44 PM
 
49 posts, read 172,121 times
Reputation: 21

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Hello,

Long story short, I short sold my house July 2009. I had a 1st and a 2nd. The 2nd accepted $2500 to release the lien and not the debt.
I read all this stuff on here about DV so I decided to send the collection agency one. When I first purchased the house the contract was with CMG Mortgage. CMG Mort sold it to Wilshire. For the past few years I have been paying Wilshire. Because Wilshire didn't get all their $$$ in the short sale, they sold it to portfolio servicing collection agency. They are acting like the lien holder and as a mortgage. Saying I owe $53,000.

The response they just sent me for my DV was the original contract I had signed with the very first mortgage company; CMG Mortgage. Does that count as a correct DV on their end? CMG sold it to Wilshire, and Wilshire is the one who sold it to collections. Is there another letter I can send to try to get them off my back? Thank you so much for any info that can help me out.
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Old 10-25-2009, 10:57 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,047,428 times
Reputation: 2661
Quote:
Originally Posted by Georgia7377 View Post
Hello,

Long story short, I short sold my house July 2009. I had a 1st and a 2nd. The 2nd accepted $2500 to release the lien and not the debt.
I read all this stuff on here about DV so I decided to send the collection agency one. When I first purchased the house the contract was with CMG Mortgage. CMG Mort sold it to Wilshire. For the past few years I have been paying Wilshire. Because Wilshire didn't get all their $$$ in the short sale, they sold it to portfolio servicing collection agency. They are acting like the lien holder and as a mortgage. Saying I owe $53,000.

The response they just sent me for my DV was the original contract I had signed with the very first mortgage company; CMG Mortgage. Does that count as a correct DV on their end? CMG sold it to Wilshire, and Wilshire is the one who sold it to collections. Is there another letter I can send to try to get them off my back? Thank you so much for any info that can help me out.
Unfortunately the time to work a deal with the second is before you short sell. After you have likely paid them what they paid for your paper and they can still chase you and see what they can get.

Write a letter and offer them whatever you can. Say if you don't get it you go BK. And if you don't get an agreement go BK.

You might also want to talk to the RE lawyer you should have talked to before you took the short sale.
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Old 10-25-2009, 11:09 PM
 
116 posts, read 407,543 times
Reputation: 63
Sounds like another american dream gone down the toilet.Hey im in the same boat so dont feel bad,just go bk.
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Old 10-26-2009, 09:10 AM
 
Location: North Las Vegas
1,631 posts, read 3,938,638 times
Reputation: 768
Quote:
Originally Posted by Georgia7377 View Post
Hello,

Long story short, I short sold my house July 2009. I had a 1st and a 2nd. The 2nd accepted $2500 to release the lien and not the debt.
I read all this stuff on here about DV so I decided to send the collection agency one. When I first purchased the house the contract was with CMG Mortgage. CMG Mort sold it to Wilshire. For the past few years I have been paying Wilshire. Because Wilshire didn't get all their $$$ in the short sale, they sold it to portfolio servicing collection agency. They are acting like the lien holder and as a mortgage. Saying I owe $53,000.

The response they just sent me for my DV was the original contract I had signed with the very first mortgage company; CMG Mortgage. Does that count as a correct DV on their end? CMG sold it to Wilshire, and Wilshire is the one who sold it to collections. Is there another letter I can send to try to get them off my back? Thank you so much for any info that can help me out.
You really need to speak to an attorney,I was just at a realestate meeting and lawyers there are saying that they use to tell folks not to foreclose that short sale is better but under new laws they are telling them to let the property go into foreclosure, and on short sales regarding seconds take a bankruptcy so the bank can't go after you.

Good luck
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