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Anyone have their (non-reaffirmed) mortgage transferred after a Ch. 7 Bankruptcy Discharge?

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0REDSOX7
Valued Contributor

Anyone have their (non-reaffirmed) mortgage transferred after a Ch. 7 Bankruptcy Discharge?

Received a notice in the mail that as of May 2nd, Nationstar will now be the new servicer of my mortgage previously held with Bank of America. 

 

Anyone have any experience with this?  I've read nothing but horrible reviews of this company.

 

My Bank of America OLAM says nothing of it, and my payment is still scheduled with them.  I tried to register with Nationstar and get that my information is invalid.  I feel this going horribly wrong.

 

But, specific to Bankruptcy situations - will they put a new TL on my CR to replace the BofA one?  I can't imagine they would given that it was BofA who held it prior to discharge.  What about sending me information or granting me OLAM access?  Since ti was discharged, will I be given any information or will the Nationstar not send anything as they may think it's an attempt to collect a debt...? What about property tax and homeowners insurance?  Still the same from escrow??

 

One thing I had with BofA is that I had a grace period until the 15th every month.  Not saying that I paid it that late every month, but sometimes I did based on paychecks and cash flow.  I can't tell if my terms are going to change or not.  Gah, this is stressing me out.

BK Discharge 2/11/14

Currently in the garden.
Message 1 of 6
5 REPLIES 5
mynameainttracy
Established Contributor

Re: Anyone have their (non-reaffirmed) mortgage transferred after a Ch. 7 Bankruptcy Discharge?

We had our 2nd mortgage sold after we were in a 13. The original creditor stayed on our reports and the new bank added a tradeline, it basically added a new negative account. Other than a mailing address change nothing changed as far as our payment was concerned. HOWEVER...for us this was a 2nd mortgage with no escrow account so I can't give you much help.

 

 

We are at the point now where our 13 and negative accounts are falling off our credit reports. The sold mortgage account got new dates with it and so now it is stuck on my CR for about 2 additional years. Since we just closed on a new home last week I don't see much point in disputing to try and get it removed early.

Message 2 of 6
0REDSOX7
Valued Contributor

Re: Anyone have their (non-reaffirmed) mortgage transferred after a Ch. 7 Bankruptcy Discharge?

Was it sold/transferred to Nationstar?

I have to believe that if it is just servicing rights the terms I had with BofA would remain, but, I'm reading horror stories about how Nationstar refuses to grant access, mail correspondence, etc., to those loans discharged in a bankruptcy...
BK Discharge 2/11/14

Currently in the garden.
Message 3 of 6
Anonymous
Not applicable

Re: Anyone have their (non-reaffirmed) mortgage transferred after a Ch. 7 Bankruptcy Discharge?

I had my BOA mortgage reassigned to Nationstar but I reaffirmed it.  If you don't reaffirm it never shows up on your credit reports.  Reaffirming gave me a better FICO score but you have to be sure that you can make the payments and that you owe less than the house is worth.  Nationstar has been nothing but great to us.  I had heard the same thing you heard and am surprised at how easy they were to deal with but like I said I reaffirmed my mortgage with them

Message 4 of 6
Anonymous
Not applicable

Re: Anyone have their (non-reaffirmed) mortgage transferred after a Ch. 7 Bankruptcy Discharge?

Your correct, no mortgage company will send you statements or listen to you after a bankruptcy even if you keep your home.  Our attorney tried to tell us differently but after seeing it happen to others we quickly learned to reaffirm with our bank.  But we only owe 80 on a 150 thousand dollar home.  

Message 5 of 6
0REDSOX7
Valued Contributor

Re: Anyone have their (non-reaffirmed) mortgage transferred after a Ch. 7 Bankruptcy Discharge?

Well, BofA sends me "informational" statements and allows me online access - but, I hear Nationstar won't do anything for me since I did not reaffirm it. BofA was nice to me, so, this is going to suck I'm sure...
BK Discharge 2/11/14

Currently in the garden.
Message 6 of 6
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