I need really good upper management information.
I know its a collection agency. We have a home listed that back in 2007 was worth about $150k. Now, its worth maybe $30k!
The seller has 3 mortgages, the last being supposedly held now by CBCS. They are not budging on what they want and I find it absurd what they are asking for.
The seller is a disabled vet that fought in the first gulf war. He has literally lost his job, wife, kid and now probably his home.
This is my last ditch effort to try and resolve the issues:
CBCS wants $7k in cash and $200 p/mo note signed for 60 Months.
Seller went back with: He has $5k he can borrow from family and since he does not work and still fighting (crazy) for his benefits from the VA, he is not comfortable with $200 a month but is willing to pay $100 p/mo.
They flatly refused. I told them, in that case, the house will go to foreclosure, they will get ZERO. I will have the seller contact bankruptcy attorney after foreclosure and wire the entire debt away......they are like......okay! Ummmmmmmm how stupid are these people!
Any contact information would be amazing. I believe in my seller and since he put his life on the line so ALL of us can work and live in this country, he deserves special consideration.
Thanks!!
Terri Barrow
Keller Williams - Palm Harbor Florida
Tags:
Hi Ron:
I appreciate all your help and advise! The debt does not show being owned by CBCS. It still shows under the original lender. Nothing ever recorded, no assignment or lien from CBCS. At this point, I feel I need to go to CBCS and have them prove to us that they are actually the lien holder or note holder now. What are your thoughts?
Seller should not file bankruptcy after foreclosure - then he has 2 hits on his credit and a longer struggle to rebuild. If bankruptcy is a consideration for him then he needs to file bankruptcy prior to a foreclosure and include the house in the bankruptcy.
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