Ok.
Now for the finale.
I was finally able to speak to an Account Manager at Shellpoint.
She told me that Shellpoint was only loan servicing my loan from PNC. So, the PNC people I had spoken to lied to me. (Not surprised.)
Anyway, she said the only discount I could receive was 10% -- and I'd have to qualify for that. I thought that I could do better.
So, with that done, I called my client/friend, who does loan buying and selling, and foreclosing. A few days later, he called back.
What he told me should NOT have surprised me; but it did. And, I now have a fuller understanding of this parade of loan/debt buying that I didn't before.
My client/friend told me that the amount of my loan was actually pittance. It is not near enough for him to go near.
He said that if I want to pay the loan off, write them a check for the full amount. He did say I could take a chance and write a check for 90%, but he asked: Is losing your home over $3,800 +/- worth it?
He knows, I know, it's not.
He said that the lender is fully aware of my house' value. They know I have equity, and if I try to play the game, they will take the house through foreclosure and I'd be out of everything.
He suggested that I don't do that. 'Pay them off and move on,' he said.
'At least you'd have a home free and clear' -- which is a rarity these days.
So, I learnt my lesson. Whether I think it fair or not, paying them what I owe and moving on is my only option.
Now, if only I can convince Donald Trump to stand down....maybe my foreign investors will get off the real estate buying fence...
Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88 AND Follow David on Twitter: @DavidAHowes
Now for the finale.
I was finally able to speak to an Account Manager at Shellpoint.
She told me that Shellpoint was only loan servicing my loan from PNC. So, the PNC people I had spoken to lied to me. (Not surprised.)
Anyway, she said the only discount I could receive was 10% -- and I'd have to qualify for that. I thought that I could do better.
So, with that done, I called my client/friend, who does loan buying and selling, and foreclosing. A few days later, he called back.
What he told me should NOT have surprised me; but it did. And, I now have a fuller understanding of this parade of loan/debt buying that I didn't before.
My client/friend told me that the amount of my loan was actually pittance. It is not near enough for him to go near.
He said that if I want to pay the loan off, write them a check for the full amount. He did say I could take a chance and write a check for 90%, but he asked: Is losing your home over $3,800 +/- worth it?
He knows, I know, it's not.
He said that the lender is fully aware of my house' value. They know I have equity, and if I try to play the game, they will take the house through foreclosure and I'd be out of everything.
He suggested that I don't do that. 'Pay them off and move on,' he said.
'At least you'd have a home free and clear' -- which is a rarity these days.
So, I learnt my lesson. Whether I think it fair or not, paying them what I owe and moving on is my only option.
Now, if only I can convince Donald Trump to stand down....maybe my foreign investors will get off the real estate buying fence...
Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88 AND Follow David on Twitter: @DavidAHowes
