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Reaffirmation request by secured lender before
Tell your clients to save all their payments and proof of mailing. When they apply for credit, provide copies to the creditor(s).
Law Office of Peter M. Lively * Personal Financial Law Center I
11268 Washington Boulevard, Suite 203, Culver City, California 90230-4647
Telephone: (310) 391-2400* Toll Free: (800) 307-3328 * Fax: (310) 391-2462
On Wed Jun 21 2017 16:10:08 GMT-0700 (Pacific Daylight Time), Laura Young lyounglaw@yahoo.com [cdcbaa] wrote:
I understand that Ocwen would like to have a debtor reaffirm personal liability for adebt, but these are payments against a secured debt.There is plenty of equity soOcwen will be paid off during the refi which my client is getting from a different lender. The new lender wants to see the payments reported to the reporting agencies (and the reporting agencies don't accept the payment list from the client, only the lender)and Ocwen is refusing to do it.
I have advised Ocwen of Sec 524 about secured debt, and the cases Inoted below which talk about secured liens, but Ocwen says - no reaffirmation, no payment reporting.This seems a violation of the FCRA.I can't get a reaffirmation unless we reopen (again) the BK inSanta Ana and it is likely thatit won't be granted. So what is a debtor to do? My client and I are frustrated. This is really affecting my client's financial situation.
Althoughthis has been discussed before in our group, Icouldn't find anything that gave a resolution, so I'd appreciate it if someone has had some success with Ocwen or other lenders about this situation.
Thank you, Laura Young
roups.com>
To: cdcbaa@yahoogroups.com
Sent: Tuesday, June 20, 2017 6:32 PM
Subject: Re: [cdcbaa] Reaffirmation request by secured lender before reporting on-time...
lenty of other companies that will do the refinance for them.
Christie Cronenweth
Law Offices of Christie Cronenweth
25202 Crenshaw Blvd., Suite 207
Torrance, CA 90505
310-257-4995ph
310-257-4996fx
cronenwethlaw@yahoo.com
www.cronenwethlaw.com
Confidentiality
The information contained in this email message is legally privileged
and confidential information intended only for the use of the individual
or entity named. If the reader of this message is not the intended recipient,
you are advised not to read the attachments and you are hereby notifiedthat any dissemination, distribution or copy of this email is strictly prohibited. This email is an Attorney-Client communication, and an Attorney-Client work product.
If you have received this email in error, please immediately notify us bytelephone and delete the email. Thank you.
The Law Offices of Christie Cronenweth is a debt relief agency engaged in the practice of aiding people to file for bankruptcy under the Bankruptcy Code.
On Jun 20, 2017, at 6:03 PM, jesseelaw@aol.com [cdcbaa] wrote:
There is no personal liability as thedebt was discharged.ard Ocwen is correct. There was a prior thread on this topic a few years ago. You might want to research it on the yahoo listserve.Mark T. Jessee
Law Offices of Mark T. Jessee
"A Debt Relief Agency"
50 W. Hillcrest Drive, Suite 200
Thousand Oaks, CA 91360
(805) 497-5868 (805) 497-5864 (Facsimile)
aa@yahoogroups.com writes:
My client then tried to get a refi and was told that he needed to reaffirm his secured Ocwen loan BEFORE Ocwen would report Client's on-time payments over the last 3 years.I did some research, spoke to theOcwen "senior bankruptcy specialist",and thenwrote to the specialist with the below info; the onlyresponse was "The loan was not reaffirmed." situationagain -- but I don't want my client to pay to reopen his BK just to find out that the Court wouldn't approve a reaffirmation of an already secured lien. It seems that this policy is contrary to the law and the Fair Credit Reporting Act. Has anyone had success speaking to Ocwen about this? Any advice? Am I missing something?
Here is what I found in my research: ent, the Bankruptcy Courts advise that there is no need for one based on the following: (1)In Re Roderick, a 2010 California case, states that a fundamental bankruptcy doctrineremain attached to the property after bankruptcy unless they are specifically avoided during the bankruptcy case. Roderick goes on to say, A reaffirmation agreement is an agreement between a creditor and debtor, "the consideration for which, in whole or in part, is based on a debt that is dischargeable" in a case under 11 U.S.C. 524(c)(1). In my client's case, no motion to avoid was brought by any party, so the lien remains intact despite Ocwens claim that it was discharged. tes, Reaffirmation agreements are unenforceable unless the "agreement was made before the granting of the discharge . . . ." 11 U.S.C. 524(c)(1) . . . . And, Once the discharge is entered, the deadline for making a reaffirmation agreement is past, and the Court lacks jurisdiction to approve a reaffirmation agreement made later."e reaffirmation agreements are not favored, strict compliance with 524(c) is mandated."
Laura Young 17061 Newland St. Huntington Beach CA 92647 714-594-3869
The post was migrated from Yahoo.
I understand that Ocwen would like to have a debtor reaffirm personal liability for adebt, but these are payments against a secured debt.There is plenty of equity soOcwen will be paid off during the refi which my client is getting from a different lender. The new lender wants to see the payments reported to the reporting agencies (and the reporting agencies don't accept the payment list from the client, only the lender)and Ocwen is refusing to do it.
I have advised Ocwen of Sec 524 about secured debt, and the cases Inoted below which talk about secured liens, but Ocwen says - no reaffirmation, no payment reporting.This seems a violation of the FCRA.I can't get a reaffirmation unless we reopen (again) the BK inSanta Ana and it is likely thatit won't be granted. So what is a debtor to do? My client and I are frustrated. This is really affecting my client's financial situation.
Althoughthis has been discussed before in our group, Icouldn't find anything that gave a resolution, so I'd appreciate it if someone has had some success with Ocwen or other lenders about this situation.
Thank you, Laura Young
roups.com>
To: cdcbaa@yahoogroups.com
Sent: Tuesday, June 20, 2017 6:32 PM
Subject: Re: [cdcbaa] Reaffirmation request by secured lender before reporting on-time...
lenty of other companies that will do the refinance for them.
Christie Cronenweth
Law Offices of Christie Cronenweth
25202 Crenshaw Blvd., Suite 207
Torrance, CA 90505
310-257-4995ph
310-257-4996fx
cronenwethlaw@yahoo.com
www.cronenwethlaw.com
Confidentiality
The information contained in this email message is legally privileged
and confidential information intended only for the use of the individual
or entity named. If the reader of this message is not the intended recipient,
you are advised not to read the attachments and you are hereby notifiedthat any dissemination, distribution or copy of this email is strictly prohibited. This email is an Attorney-Client communication, and an Attorney-Client work product.
If you have received this email in error, please immediately notify us bytelephone and delete the email. Thank you.
The Law Offices of Christie Cronenweth is a debt relief agency engaged in the practice of aiding people to file for bankruptcy under the Bankruptcy Code.
On Jun 20, 2017, at 6:03 PM, jesseelaw@aol.com [cdcbaa] wrote:
There is no personal liability as thedebt was discharged.ard Ocwen is correct. There was a prior thread on this topic a few years ago. You might want to research it on the yahoo listserve.Mark T. Jessee
Law Offices of Mark T. Jessee
"A Debt Relief Agency"
50 W. Hillcrest Drive, Suite 200
Thousand Oaks, CA 91360
(805) 497-5868 (805) 497-5864 (Facsimile)
aa@yahoogroups.com writes:
My client then tried to get a refi and was told that he needed to reaffirm his secured Ocwen loan BEFORE Ocwen would report Client's on-time payments over the last 3 years.I did some research, spoke to theOcwen "senior bankruptcy specialist",and thenwrote to the specialist with the below info; the onlyresponse was "The loan was not reaffirmed." situationagain -- but I don't want my client to pay to reopen his BK just to find out that the Court wouldn't approve a reaffirmation of an already secured lien. It seems that this policy is contrary to the law and the Fair Credit Reporting Act. Has anyone had success speaking to Ocwen about this? Any advice? Am I missing something?
Here is what I found in my research: ent, the Bankruptcy Courts advise that there is no need for one based on the following: (1)In Re Roderick, a 2010 California case, states that a fundamental bankruptcy doctrineremain attached to the property after bankruptcy unless they are specifically avoided during the bankruptcy case. Roderick goes on to say, A reaffirmation agreement is an agreement between a creditor and debtor, "the consideration for which, in whole or in part, is based on a debt that is dischargeable" in a case under 11 U.S.C. 524(c)(1). In my client's case, no motion to avoid was brought by any party, so the lien remains intact despite Ocwens claim that it was discharged. tes, Reaffirmation agreements are unenforceable unless the "agreement was made before the granting of the discharge . . . ." 11 U.S.C. 524(c)(1) . . . . And, Once the discharge is entered, the deadline for making a reaffirmation agreement is past, and the Court lacks jurisdiction to approve a reaffirmation agreement made later."e reaffirmation agreements are not favored, strict compliance with 524(c) is mandated."
Laura Young 17061 Newland St. Huntington Beach CA 92647 714-594-3869
The post was migrated from Yahoo.