Charged Off Loan Vs Foreclosure

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Posted by Bill H on February 26, 2005 at 11:37:39:

In Reply to: Charged Off Loan Vs Foreclosure posted by R.Smith on February 25, 2005 at 12:01:39:

: My Fl. bank tells me they have charged off my loan due to late paymants but they have not placed me in foreclosure yet. I would like to catch up loan payments which I have $$ to do but they refuse to work it out. They claim they will only settle for the entire balance 7K. Land is in Fl.

Rattle their cage....Ask them to record a reconveyance or satisfaction of mortgage in order that you can sell the land now that they have charged it off.

Good Luck,
Bill H

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Comments:
: : My Fl. bank tells me they have charged off my loan due to late paymants but they have not placed me in foreclosure yet. I would like to catch up loan payments which I have $$ to do but they refuse to work it out. They claim they will only settle for the entire balance 7K. Land is in Fl.

: Rattle their cage....Ask them to record a reconveyance or satisfaction of mortgage in order that you can sell  the land now that they have charged it off.

: Good Luck,
: Bill H


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