2nd mortgage Real Time Resolutions

[ARC13]

My ex-husband and I purchased an "investment" property in Fl around 2004. The property went into default, we had a short sale that fell through due to the 2nd mortgage. (The 1st agreed to the short sale, the 2nd did not) The home was foreclosed and the 2nd mortgage was sold to Real Time Resolutions. The amount still owed is 58,000. I have since divorced and although according to my credit report, I have zero debt other than this second mortgage, I cannot get a mortgage in my name. The home I live in is in my sister and brother in law's name. I pay 100% of it. My car is paid off and I have no credit card debt. This second mortgage is the only thing holding me back from being able to put my house in my name and get the tax benefits. I would be willing to settle for under 10% of the amount owed just to clear my credit report but in all that I've read about Real Time Resolutions tells me that they are very difficult to deal with. I have disconnected my home phone and they do not have my cell phone so they no longer contact me. Any advice you can give as to the best way to proceed so that I can clear this would be greatly appreciated!

[gdale6]

When was the FC ?

[ARC13]

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@gdale6 wrote:

When was the FC ?

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FC was 2008.

[RTR]

Dear “ARC13”,

Real Time Resolutions, Inc. would like the opportunity to work with you on this matter. For privacy concerns and your protection, we do not believe that it is appropriate to respond to specific issues in a public forum.  We encourage you to contact us directly at 877-599-7334 and look forward to hearing from you. We have dedicated and knowledgeable professionals that can help you find a resolution to this concern.  Thank you.

Sincerely,

Real Time Resolutions, Inc.

[Old_Man]

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@RTR wrote:

Dear “ARC13”,

Real Time Resolutions, Inc. would like the opportunity to work with you on this matter. For privacy concerns and your protection, we do not believe that it is appropriate to respond to specific issues in a public forum.  We encourage you to contact us directly at 877-599-7334 and look forward to hearing from you. We have dedicated and knowledgeable professionals that can help you find a resolution to this concern.  Thank you.

Sincerely,

Real Time Resolutions, Inc.

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WOW! Really?

[pisspoorcredit]

Hey RTR...SCRAM! How desperate of a debt collector you are to cruise online credit forums to see if you're a topic. And its funny...I've had you guys as a mortgage servicer too. NO COMMENT on that. ARC13...never call. Keep your convos on paper. If RTR would like "discuss" your matter and are serious about negotiation...send them a GW or get an attorney to negotiate for you.

[Shogun]

Well the debt is old, and getting older, it appears to be around 6 years old. (you gave the year but not the month).  The statute of limitations in Florida is 5 years, so this should be past that.  Do your research and make sure of the calculations on that.  If so, (and no judgement has been filed), I'd send them the PFD, maybe at 5% to take this and be done with it.  It will go past the CRTP in about a year or so, so it will be a zombie debt anyway.

[StartingOver10]

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@Shogun wrote:

Well the debt is old, and getting older, it appears to be around 6 years old. (you gave the year but not the month).  The statute of limitations in Florida is 5 years, so this should be past that.  Do your research and make sure of the calculations on that.  If so, (and no judgement has been filed), I'd send them the PFD, maybe at 5% to take this and be done with it.  It will go past the CRTP in about a year or so, so it will be a zombie debt anyway.

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I would use an attorney. The OP will need a release from RTS and the attorney will make sure the release is recorded as well as handle negotiations and be a point of contact without releasing the OPs phone and other contact info (for the moment). For the OP to get a new mortgage the release will have to be shown to the new mortgage company.

[Shogun]

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@StartingOver10 wrote:

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@Shogun wrote:

Well the debt is old, and getting older, it appears to be around 6 years old. (you gave the year but not the month).  The statute of limitations in Florida is 5 years, so this should be past that.  Do your research and make sure of the calculations on that.  If so, (and no judgement has been filed), I'd send them the PFD, maybe at 5% to take this and be done with it.  It will go past the CRTP in about a year or so, so it will be a zombie debt anyway.

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I would use an attorney. The OP will need a release from RTS and the attorney will make sure the release is recorded as well as handle negotiations and be a point of contact without releasing the OPs phone and other contact info (for the moment). For the OP to get a new mortgage the release will have to be shown to the new mortgage company.

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What release would be needed?  Only if there were a judgement would there need to be a release, otherwise, it's a debt like any other debt.  

"Please correct me if I'm wrong on that, not really too savvy on the mortgages".

[StartingOver10]

Most of these are deficiency judgments obtained when the mortgage was f/c'ed. If you don't get a release from the judgment then the (deficiency) judgment continues to accrue interest. Each state has a different time line for the lender to start collection on the deficiency judgment - some states won't allow collection under certain circumstances but others allow the lender years to start their collections after the deficiency judgement is issued. You can check the public records under your name for a copy of the deficiency judgement. In my area the public records are under the Clerk of Courts and are readily available online.

Edit:  Real Time Resolutions Inc. is a very large collector in this arena of defaulted mortgages. These deficiency judgements have been sold to RTR for collections. As the economy improves we will see that RTR will be there to stop many people from obtaining new mortgages because the prior deficiency judgment has not been paid. Many people that have these deficiency judgments are totally unaware that they exist. Some mistakenly believe that when the first mortgage f/c'ed on the property that the second just 'went away'.  It didn't. Unless the judgment is paid (negotiated) and a satisfaction is issued or the judgment has been BK'ed, then it is still accruing statutory interest.