About a week ago, I posted that I wanted to pay-off my equity line turned second mortgage.
And, I want to do it by negotiating a smaller payoff deal. Since Shellpoint Mortgage acquired my loan at a discount, I wanted to share in that discount.
They originally sent me a full pay off timetable. But, since they seem to NOT understand what I am asking, I made a counter offer. Since, they have not responded.
Anyway, I had to emailed them through their website since their telemarketers are NOT knowledgeable about the loan business; and they truly have no authority when it comes to real mortgage questions.
Anyway, my counter was met with the response that their Loan Services Personnel are NOT allowed to contact debtors directly.
Say, what?!
All I want to do is to write a check -- or set up a wire transfer -- for a final payment that we can negotiate fairly. I know that there is an acceptable amount to both parties other than the full loan amount that I owe.
I think it's only fair since they acquired my loan at a discount -- most likely 25% of the loan amount owed.
How do I know I can do this?
Well, you see -- most of my clients are in the real estate investment business. They acquire a lot of their property from said lenders who have "bad loans." My clients buy these loans and then foreclose on the property. And, they buy these loans at a discount.
And, since late 2008, this has been happening all over the US.
Anyway, I saw this article about home owners equity and how people are NOT taking equity out of their homes (smart) and thought it interesting. (It's been ten years since I did that and now wish I hadn't.)
http://www.cnbc.com/2016/07/12/owners-could-pull-another-260-billion-out-of-their-homes--heres-why-they-arent.html
Hopefully, Shellpoint will get their heads out of their derrieres and give me a call.
Please enjoy!
Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88 AND Follow David on Twitter: @DavidAHowes
And, I want to do it by negotiating a smaller payoff deal. Since Shellpoint Mortgage acquired my loan at a discount, I wanted to share in that discount.
They originally sent me a full pay off timetable. But, since they seem to NOT understand what I am asking, I made a counter offer. Since, they have not responded.
Anyway, I had to emailed them through their website since their telemarketers are NOT knowledgeable about the loan business; and they truly have no authority when it comes to real mortgage questions.
Anyway, my counter was met with the response that their Loan Services Personnel are NOT allowed to contact debtors directly.
Say, what?!
All I want to do is to write a check -- or set up a wire transfer -- for a final payment that we can negotiate fairly. I know that there is an acceptable amount to both parties other than the full loan amount that I owe.
I think it's only fair since they acquired my loan at a discount -- most likely 25% of the loan amount owed.
How do I know I can do this?
Well, you see -- most of my clients are in the real estate investment business. They acquire a lot of their property from said lenders who have "bad loans." My clients buy these loans and then foreclose on the property. And, they buy these loans at a discount.
And, since late 2008, this has been happening all over the US.
Anyway, I saw this article about home owners equity and how people are NOT taking equity out of their homes (smart) and thought it interesting. (It's been ten years since I did that and now wish I hadn't.)
http://www.cnbc.com/2016/07/12/owners-could-pull-another-260-billion-out-of-their-homes--heres-why-they-arent.html
Hopefully, Shellpoint will get their heads out of their derrieres and give me a call.
Please enjoy!
Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88 AND Follow David on Twitter: @DavidAHowes
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