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Is there any way I can see what my mortgage was sold for? After losing my job we lost our house after I got a job offer in another state... it was first owned by CitiMortgage and now another company owns the mortgage. Is there a website where I can see how much the new lender bought my old mortgage for?
It's highly unlikely you would ever find out........sales terms of notes are not recorded in public records, only the assignments of the mortgages or deeds of trusts.
there is no way to find out... Most likely it wasn't purchased dollar to dollar... Why do you need this for?
Its been going on 3 yrs since we moved and had to leave our old house. No luck with short sale and going into forclosure. I was just curious, since we owed $233k on it and it's now worth about $125k, what the mortgage was last purchased for. We are so afraid that the bank is going to come after us for the difference, and we dont have that kind of money. We can barely pay our bills now.
It's highly unlikely you would ever find out........sales terms of notes are not recorded in public records, only the assignments of the mortgages or deeds of trusts.
It depends on the state laws.
I assume the OP is from Florida (judging "their FL native, now in North Carolina"). Florida has very broad Sunshine laws. While it may not be available online to readily access, you can probably dig around at court houses to find who and for how much the mortgage was resold.
I personally do not like the Sunshine laws because many counties make mortgage terms readily available online for the public to see. Plus they sometimes scan in driver's license, home addresses etc. You can even find out how much the mortgage for the home was, the lender and how much was put down.
That's how broad Florida Sunshine laws are and what type of information is available to the public.
So if you can't find it online, I am sure you can find it somewhere if you do some digging in Florida.
But I'm more afraid of what they will do to us b/c of teh difference. We have no money to pay back the difference. It's going to court soon, and I literally haven't eaten much due to nerves.
Its been going on 3 yrs since we moved and had to leave our old house. No luck with short sale and going into forclosure. I was just curious, since we owed $233k on it and it's now worth about $125k, what the mortgage was last purchased for. We are so afraid that the bank is going to come after us for the difference, and we dont have that kind of money. We can barely pay our bills now.
Are you in FL? Welcome to the club
You are not alone. Most people I know are upside down as you are... Banks know that too...
Within last year market is getting crazy at least in my area, so I think you need to get a lawyer who deal with real estate and try short sale again.
If you have nothing lender could take from you, why are you affraid? In FL lender cannot go after your other house you live in (which is your primary residence). If you have minor children, lender canot take anything from your paycheck until your kids will turn 18. Otherwise they will be able to deduct $$ from you paycheck. Again, they will not be able to get $$ so you will have nothing left for your food and rent and utilities.
Depending on the area you have your house in, I would really spend some efford to make your house look move-in ready asap, get a real estate lawyer (laywer will have a realtor for with them) and try short sale. If it's not going to work, you better have a lawyer to negotiate foreclosure - your best bet might be to go for bankrupcy.
Oh, and by the way the amount you debts were purchased for has nothing to do with whatever you think you own them. It might help to negotiate something between you and the lender (negotiate for lawyer), but nothing is guaranteed. Let's say it this way - if you will sell your house for 125K and still have 108K owe to the bank, and they truly paid 75% of that amount then purchased your loan, they will be willing to work with you more regarding negotiation process. Either way your lender will be looking for some $$ from you either to the closing or as a promisary note (100 months with no %)
I dont know what to think or what to do. I cant hire a lawyer if I dont have the money. It's been making me crazy for a while now.
Let me tell you, lawers in my area charge $500 upfront for short sale and another 1K is charged at closing - either my seller (you) or buyer (listing agent should make a note regarding this to make sure potential buyers are on the same page). If it goes to foreclosure - it's another 1K from you pocket.
Now if you will do nothing, let me guess what would happens... you will end up with more debts long run compare to finding some $$ for the lawyer now. Lender will be getting as much as they could from your paychecks... It's your call. People who do nothing are getting in troubles, sorry to say that.
Anyways, call around and see. In my area 9 out of 10 real estate lawyers are doing free consultations.
I would bet the servicing was sold, not the loan. Is it Fannie, Freddie or an FHA loan?
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