Rust Consulting - People who are in active bankruptcy, no payment received or information.

Iamfiesty

LoanSafe Member
Apr 17, 2013
42
1
8
I was with Countrywide in 2007. Offered loan mod and paid on it for 2-1/2 years. BofA bought Countrywide, they would not honor there modification that
I was on.
In 2010, BofA stated that I owed almost $28,000.00 that includes back payments, taxes and fees. I was so scared. I tried to get a modification from Bank of America. I was denied 3 times. They started foreclosure on me in September 2010, so I filed bk 13, just to save my home. I had no other debt.
I paid on it every month, my payment was $2,200.00. In January 2012, my yahoo lawyer could not get my case confirmed and foreclosure started up again. I was able to find a new lawyer and refile in April. 2012. My payments are still $2,200.00 per month. I don't know where I fall in the categories..
 

vhtheone

LoanSafe Member
May 20, 2013
60
0
0
Looks like to me you are in the bk catagory also you were denied modification. part of this settlement nobody is talking about is the 5.7 billion dollars in loan assistance available. hopefully when we recieve our payments they give us our due modifications....i'm also active 13 since 2010 with wamu/chase still no viable information from Rust just you are eljible for payment and payments will being out in mid-july..I keep calling anyway hoping one day I get some new information. thanks for starting this thread...
 

noplacetogo

LoanSafe Member
May 16, 2013
32
0
0
Fighting Chase since 2007, tried the modification route three times but gave up because I got tired of chasing my tail. The last time they wanted a good faith deposit so I sent the required paperwork and the good faith deposit. After making my first monthly payment I got a letter letting me know that I would not be getting the modification. When I called them to find out why I was told that I didn't send them the paperwork.So I said to the guy, " you mean the paperwork that the good faith deposit check was attached to", so they got the check without a problem but they didn't see all that paperwork that it was attached to. I have been to more hearings on this foreclosure then I care to remember. I could not afford a attorney so I was doing it on my own. The judge told me that I clouded the title, yet allowed Chase the summary judgement. So far I have had four different sale dates. I am currently in active Chapter 13. Only started that six months ago, when I ran out of fight. I just could not do it anymore. Five and a half years of fighting with them was more than I could handle. So now I sit and wait like the rest of you. I thought I would get a 300 check and had my eye on a bbq that was on sale. Well no check and no new bbq for me.....lol. I hope to get a lot more then 300 but with my experience with Chase I will get the 300.
 

CheckPlease

LoanSafe Member
May 29, 2013
36
0
0
Fighting Chase since 2007, tried the modification route three times but gave up because I got tired of chasing my tail. The last time they wanted a good faith deposit so I sent the required paperwork and the good faith deposit. After making my first monthly payment I got a letter letting me know that I would not be getting the modification. When I called them to find out why I was told that I didn't send them the paperwork.So I said to the guy, " you mean the paperwork that the good faith deposit check was attached to", so they got the check without a problem but they didn't see all that paperwork that it was attached to. I have been to more hearings on this foreclosure then I care to remember. I could not afford a attorney so I was doing it on my own. The judge told me that I clouded the title, yet allowed Chase the summary judgement. So far I have had four different sale dates. I am currently in active Chapter 13. Only started that six months ago, when I ran out of fight. I just could not do it anymore. Five and a half years of fighting with them was more than I could handle. So now I sit and wait like the rest of you. I thought I would get a 300 check and had my eye on a bbq that was on sale. Well no check and no new bbq for me.....lol. I hope to get a lot more then 300 but with my experience with Chase I will get the 300.
I too have Chase... Denied loan mod after 8 months of being told "it will be done next week"... I didn't try for a second loan mod... I filed Ch 13 Oct. 2011. They had no choice but to accept my payments then. After I filed they tryed to offer another loan mod.. No thanks, they should have done it in the first place. Denial excuse... You are no longer eligible because your over 12 months past due. Yeah because they waited until literally the day I was a yr past due to deny for that reason! They are full of it...they can take their $300 and shove it where the sun dont shine. Oh wait... They might take it out with their greedy hands and stick it back in their pocket!!
 

noplacetogo

LoanSafe Member
May 16, 2013
32
0
0
I too have Chase... Denied loan mod after 8 months of being told "it will be done next week"... I didn't try for a second loan mod... I filed Ch 13 Oct. 2011. They had no choice but to accept my payments then. After I filed they tryed to offer another loan mod.. No thanks, they should have done it in the first place. Denial excuse... You are no longer eligible because your over 12 months past due. Yeah because they waited until literally the day I was a yr past due to deny for that reason! They are full of it...they can take their $300 and shove it where the sun dont shine. Oh wait... They might take it out with their greedy hands and stick it back in their pocket!!
I asked my attorney about the trustee taking the check, he is on my side about how ludicrous it would be to give it to the trustee so they can give it back to the bank. I told him that if that check is enough to get me out of chapter 13 so my life can go back to normal then they can have it but if it is not enough then they aren't getting one red cent. The trustee is already taking every cent I have and fighting my attorney on my plan. This house is not worth what is now owed. The escrow account account alone is negative 28,000 because they refuse to let me pay my taxes. And the bank placed insurance is insane but because the house needs a new roof and we are in Florida I can't get insurance anywhere else. At this point we owe 139,000 on a 75000 mortgage for a house that is worth 110,000. When all this started the house was worth 225,000. All we every wanted was a modification. I guess they thought it would be better to take the 225000 house for the 75000 mortgage, but they didn't think it would be a five and a half year fight and now the house is worth less then whats owed. Now they sold my mortgage off to SPS. How they sell a mortgage that they don't even have the note for is something I will never understand.
 

CheckPlease

LoanSafe Member
May 29, 2013
36
0
0
I asked my attorney about the trustee taking the check, he is on my side about how ludicrous it would be to give it to the trustee so they can give it back to the bank. I told him that if that check is enough to get me out of chapter 13 so my life can go back to normal then they can have it but if it is not enough then they aren't getting one red cent. The trustee is already taking every cent I have and fighting my attorney on my plan. This house is not worth what is now owed. The escrow account account alone is negative 28,000 because they refuse to let me pay my taxes. And the bank placed insurance is insane but because the house needs a new roof and we are in Florida I can't get insurance anywhere else. At this point we owe 139,000 on a 75000 mortgage for a house that is worth 110,000. When all this started the house was worth 225,000. All we every wanted was a modification. I guess they thought it would be better to take the 225000 house for the 75000 mortgage, but they didn't think it would be a five and a half year fight and now the house is worth less then whats owed. Now they sold my mortgage off to SPS. How they sell a mortgage that they don't even have the note for is something I will never understand.
I am in Ohio. I asked my attorney and he told me to call him when the check comes to let him know how much it is. I do hope it's enough to get me out of bk. But it will probably be small. The waiting is the worst... We have already waited 8 weeks, whats 6 more? Torture due to the fact that when I see it I'm only gonna be irritated anyway!
 

CityGurl

LoanSafe Member
Apr 23, 2013
61
1
0
I'm in Minnesota in active Chapt. 13. Awhile ago I talked to my attorney and he said the trustee is not taking or asking for checks re the IFR. I'm playing the waiting game like everyone else. I seriously don't understand the hold up. I feel like when we got the postcards they should have or had it all figured out - hence the mailing of the postcards. My understanding was that had completed the review, figured out the categories and had forwarded the information to Rust. I'm frustrated like everyone else.
 

when will it end

LoanSafe Member
Apr 26, 2013
50
0
0
I asked my attorney about the trustee taking the check, he is on my side about how ludicrous it would be to give it to the trustee so they can give it back to the bank. I told him that if that check is enough to get me out of chapter 13 so my life can go back to normal then they can have it but if it is not enough then they aren't getting one red cent. The trustee is already taking every cent I have and fighting my attorney on my plan. This house is not worth what is now owed. The escrow account account alone is negative 28,000 because they refuse to let me pay my taxes. And the bank placed insurance is insane but because the house needs a new roof and we are in Florida I can't get insurance anywhere else. At this point we owe 139,000 on a 75000 mortgage for a house that is worth 110,000. When all this started the house was worth 225,000. All we every wanted was a modification. I guess they thought it would be better to take the 225000 house for the 75000 mortgage, but they didn't think it would be a five and a half year fight and now the house is worth less then whats owed. Now they sold my mortgage off to SPS. How they sell a mortgage that they don't even have the note for is something I will never understand.
Sounds to me like you ought to have 13 dismissed and walk. It's called a "strategic default." 3 and a half years into my bk 13, and I kinda wish I had walked, but I put 50k down on this house. This is why they tried to foreclose on me ... my equity.
 

Iamfiesty

LoanSafe Member
Apr 17, 2013
42
1
8
Looks like to me you are in the bk catagory also you were denied modification. part of this settlement nobody is talking about is the 5.7 billion dollars in loan assistance available. hopefully when we recieve our payments they give us our due modifications....i'm also active 13 since 2010 with wamu/chase still no viable information from Rust just you are eljible for payment and payments will being out in mid-july..I keep calling anyway hoping one day I get some new information. thanks for starting this thread...
I would love a modification where my arrears of $29,000 was forgiven and a principal reduction and low payments. That's shooting for the moon though. Oh and to top it off.... A big payment!
One thing that I never mentioned was this.... I started in April 2013 trying to get a modification, still trying no answer yet. But the odd thing is this... I asked my case manager if she knew anything about the IFR settlement... She said are you included in that? I said I haven't gotten anything yet. Then she said IF you are involved and can't do the mod we were working on. That led me to believe we may have mods coming our way...
 

TnGal

LoanSafe Member
Jun 3, 2013
16
0
0
I too am in BK and I haven't been given a check date other than all the remaining checks are being sent July, 15th. The original loan date was 6/2005. I went into foreclosure in 2008 but i was given a modification and started making payments again. There was a 2000 fee that started the loan off that wasn't put in the modification and I couldn't pay enough to keep the bal. current. The loan is with Countywide/Bank of America(the loan servicing has since been sold to Ocwen). But I believe Countrywide/Bank of America still owns the loan. I was foreclosed again in 2009 I was never offered a modification for my FHA backed loan. I eventually got to someone on their emergency response team, he moved the sale date and had me send him modification docs. I never heard back from him after that. I filed for BK the day before the sale date and my atty had to get a stay ordered to stop the sale. I filed for BK in July, 2010. On the Ocwen site, you can see copies of your loan paper work. I see the original note but not the "new" note that the has the modification information(lower interest rate and longer loan). I've seen some people post about lost loan paper work, does the modification constitute a new note. If they lost that, where does that leave me?
 

CheckPlease

LoanSafe Member
May 29, 2013
36
0
0
I'm in Minnesota in active Chapt. 13. Awhile ago I talked to my attorney and he said the trustee is not taking or asking for checks re the IFR. I'm playing the waiting game like everyone else. I seriously don't understand the hold up. I feel like when we got the postcards they should have or had it all figured out - hence the mailing of the postcards. My understanding was that had completed the review, figured out the categories and had forwarded the information to Rust. I'm frustrated like everyone else.
Frustrated is an understatment!! Lol.... I just spoke with Rust Tier 2 CSR and was told that I do have a check date for July 15. I called back and asked if it would be sent certified mail... She said she would have someone research it and call me back. As if I am expecting a true answer... Not really but I feel at this point if they are going to take up my time I will take up theirs!! I hope they will send certified because she did tell me the bigger checks come that way!!! Oh how I hope to see the Fed Ex man at my door in July!
 

TnGal

LoanSafe Member
Jun 3, 2013
16
0
0
Another thought, when you look at the reasons why taxes will be reported, there are 5 reasons. A. Base payment, which may be reportable as income. B. Return of mortgage interest you paid. C. Return of equity on your home. D. Interest on other payment components. E. Return of fees you paid. I haven't seen anyone post that they received any money that would fall into one of these except the base payment, be it 300, 600, 6000. It makes since that the checks in this last wave, would have included these monies as well. Or else why post this page describing the reasons tax reporting would or would not occur. Also the page states that along with the check, the person would receive a letter with a break down of which reason why they are receiving additional money. I haven't seen anyone talk about receiving such a letter. Computing these numbers could be a reason why its taking so long. The banks could reasonably know which of the major categories we fall in, hence the payout amount each bank was hit with, but computing these number would take time. Maybe for people that have errors with their loan, this applies.



https://independentforeclosurereview.com/TaxInfo.aspx

"In most cases, borrowers will receive a check that represents only a lump sum
“Base payment” that does not represent reimbursement of any particular amounts.
For these borrowers, only Section A of the discussion below applies.

A limited number of borrowers will receive a check that includes the lump sum
“Base payment” and additional amounts. For these borrowers, the letter
enclosed with the check will include a section called “Breakdown of your
payment” that corresponds to Sections A through E of the discussion below, which
explain what amounts this payment represents. "
 

sandra l anderson

LoanSafe Member
Apr 19, 2013
108
0
0
I too am in BK and I haven't been given a check date other than all the remaining checks are being sent July, 15th. The original loan date was 6/2005. I went into foreclosure in 2008 but i was given a modification and started making payments again. There was a 2000 fee that started the loan off that wasn't put in the modification and I couldn't pay enough to keep the bal. current. The loan is with Countywide/Bank of America(the loan servicing has since been sold to Ocwen). But I believe Countrywide/Bank of America still owns the loan. I was foreclosed again in 2009 I was never offered a modification for my FHA backed loan. I eventually got to someone on their emergency response team, he moved the sale date and had me send him modification docs. I never heard back from him after that. I filed for BK the day before the sale date and my atty had to get a stay ordered to stop the sale. I filed for BK in July, 2010. On the Ocwen site, you can see copies of your loan paper work. I see the original note but not the "new" note that the has the modification information(lower interest rate and longer loan). I've seen some people post about lost loan paper work, does the modification constitute a new note. If they lost that, where does that leave me?
I am also with BOA/Countrywide FHA loan which I was not aware of until I heard that BOA was doing modifications for over 200,000 customers last year and called about it and found I was with Fannie/Freddie since 2002. I know that back in either 2009 or 2010 BOA sent both my husband I modication paperwork by Fedex/I filled them out to get a loan modication sent them all the paperwork back to them they have me a 3 month trial period I sent them a check but I had also filed a BK13 before than when I called for the payoff because the trustee needed it they took me out of the modifaction and when I called to ask why the said because they "assumed since I called for the payoff I was going to pay off the mortgage" I said well you assumed a lot because I was not paying off the mortgage I need it for the trustee. She said once again well we assume people are going to payoff their loans when they call for payoff. so got taken out of the remodifcation and now in BK 13 since June of 2011 my payments are 2100 but they also include the house payment. My loan has been recently sold to Green Tree who I understand is part of BOA but handle the undesirable loans they don't want on the books. This was the 2nd time I had filed BK13 I also filed in 2008-2010 which BOA started a foreclosure again. Had the loan modified from an adjustable rate to a convential but still at 5 percent didnt' do any good for me because the payments stayed the same. I have no idea what catagory I will be but I am only expecting 300.00
 

shellsea

LoanSafe Member
May 4, 2013
8
0
0
Sounds to me like you ought to have 13 dismissed and walk. It's called a "strategic default." 3 and a half years into my bk 13, and I kinda wish I had walked, but I put 50k down on this house. This is why they tried to foreclose on me ... my equity.


Tell me about ! I put down MORE than the place is even worth today ($136,000.) NOT worth, $110,000.)
I did nothing to deserve this. THEY adjusted my loan and made it unattainable for me to pay. I asked for refinance etc. and they boldly told me,...we don't even recognize a NINA loan. You just may have to find somebody who will work with you. WHAT ? How can this be ? Raise my monthly payment 300 hundred bucks, like no problem, and tell me to shove it when I can't pay that ?? I continued to pay HOA's that also were raised to stupid amounts $500. By the time they put a lien on the condo,.....I was going under foreclosure processes and only owe less than $500 to the association. I have been through absolute hell, and still feel responsible for this mess. I just need to move on. (Lord knows I have moved 5 times,...lol)
Just know that I will NOT feel remedy, from this one ever.
 

Offthegrid

LoanSafe Member
Jun 4, 2013
2
0
0
We were with Country Wide to start with, then Bank of America. With one job loss, lost half of our income. During the summer
of 2008, we were gonna be late on one payment. So after calling BOA the women said we have a modification program for people
in your situation, so we was so happy!!!!! So the lady transfered us to that department and got the paperwork to us in about
a week or so. Got the trial payments that were simple to make and allowed us to afford our other needs and take care of a
elderly sick parent. When it was time to get the permanent mod, they kept losing the paperwork over and over!! So....by that
time, our back owed kept stacking up. They said they would tack that on the end of the loan, "don't worry". We would call
and tell them we would make our regular payment and add so much of the back owed so we would not lose our home!!
They would never do that. We was behind 4700.00 bucks when they started forclosure plus all the lawyer fees they had to have!!
So we went into Chapter 13 to stop it. Made it 2 years in the CH13 while struggling to make ends meet. Tax return came in Feb 2012,
we were suppose to send it to the trustee or buy a refridgerator (we have 2 kids). We kept the money from our tax check and
got a fridge and other things we all HAD to have (needs not wants). So were were dismissed for the Ch 13, so we went
into a Ch 7 and surrendered our house and farm. Got a letter a week ago that they sold our loan to Green Tree, so I
guess they will finish off where BOA left off. Also got a letter from BOA lawyer with Military forms in it, stating that
we were not members of the military. Which neither me or my wife are military. I filed for IFR, and have not received
anything yet.
 

CheckPlease

LoanSafe Member
May 29, 2013
36
0
0
We were with Country Wide to start with, then Bank of America. With one job loss, lost half of our income. During the summer
of 2008, we were gonna be late on one payment. So after calling BOA the women said we have a modification program for people
in your situation, so we was so happy!!!!! So the lady transfered us to that department and got the paperwork to us in about
a week or so. Got the trial payments that were simple to make and allowed us to afford our other needs and take care of a
elderly sick parent. When it was time to get the permanent mod, they kept losing the paperwork over and over!! So....by that
time, our back owed kept stacking up. They said they would tack that on the end of the loan, "don't worry". We would call
and tell them we would make our regular payment and add so much of the back owed so we would not lose our home!!
They would never do that. We was behind 4700.00 bucks when they started forclosure plus all the lawyer fees they had to have!!
So we went into Chapter 13 to stop it. Made it 2 years in the CH13 while struggling to make ends meet. Tax return came in Feb 2012,
we were suppose to send it to the trustee or buy a refridgerator (we have 2 kids). We kept the money from our tax check and
got a fridge and other things we all HAD to have (needs not wants). So were were dismissed for the Ch 13, so we went
into a Ch 7 and surrendered our house and farm. Got a letter a week ago that they sold our loan to Green Tree, so I
guess they will finish off where BOA left off. Also got a letter from BOA lawyer with Military forms in it, stating that
we were not members of the military. Which neither me or my wife are military. I filed for IFR, and have not received
anything yet.
Wow!! I am in Ch 13 and any of my tax return I am allowed to keep! So sorry about your situation. What state are you in?
 

Offthegrid

LoanSafe Member
Jun 4, 2013
2
0
0
I would love to tell you more about it and what state, but heard somewhere that the big banks were monitoring these sites and in some cases, starting them. I will tell you its a southern state. We would have not even went into the modification program if we were not enticed by the women on the phone. It was a freaking trap!! Middle finger up to you, "Beast or AMERICA"! Thanks for stealing our farm and home!
 

vhtheone

LoanSafe Member
May 20, 2013
60
0
0
As I stated on another link there are only little over 28,000 Chapter 13 borrowers receiving a payment according to the remediation payout of the Federal Reserve Site as of 4/09/13.. That is not a lot of people if you figure 4.2 million postcards were mailed out. The payouts for chapter 13 begins at 3,750 and 7,500 or 31,250-62,500 depending or not you requested an IFR. I believe we are the last ten percent because a Chapter 13 can collapse at anytime and the people writing those checks know this.. Once a cased is dismissed or paid off its no longer active chapter 13 meaning(300-600). So we must continue are fight... If you still have your home from 2009-2010 and not gotten modification approved fight hard to get it because it is part of this settlement.. I'm waiting to receive my check so I can use the pay stub as evidence to receive proper modification........These banks don't want to modify these loans because in some cases they have to reduce the principle because of lost value and equity.:toung::toung:
 

when will it end

LoanSafe Member
Apr 26, 2013
50
0
0
As I stated on another link there are only little over 28,000 Chapter 13 borrowers receiving a payment according to the remediation payout of the Federal Reserve Site as of 4/09/13.. That is not a lot of people if you figure 4.2 million postcards were mailed out. The payouts for chapter 13 begins at 3,750 and 7,500 or 31,250-62,500 depending or not you requested an IFR. I believe we are the last ten percent because a Chapter 13 can collapse at anytime and the people writing those checks know this.. Once a cased is dismissed or paid off its no longer active chapter 13 meaning(300-600). So we must continue are fight... If you still have your home from 2009-2010 and not gotten modification approved fight hard to get it because it is part of this settlement.. I'm waiting to receive my check so I can use the pay stub as evidence to receive proper modification........These banks don't want to modify these loans because in some cases they have to reduce the principle because of lost value and equity.:toung::toung:
What if they (BOA) sold my loan to nationstar last month? I have never applied for a modification nor have I been contacted by my banker to try. Did they sell me off to prevent having to give me a modification? Not sure I want to with all the modification horror stories I have read.
 
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when will it end

LoanSafe Member
Apr 26, 2013
50
0
0
As I stated on another link there are only little over 28,000 Chapter 13 borrowers receiving a payment according to the remediation payout of the Federal Reserve Site as of 4/09/13.. That is not a lot of people if you figure 4.2 million postcards were mailed out. The payouts for chapter 13 begins at 3,750 and 7,500 or 31,250-62,500 depending or not you requested an IFR. I believe we are the last ten percent because a Chapter 13 can collapse at anytime and the people writing those checks know this.. Once a cased is dismissed or paid off its no longer active chapter 13 meaning(300-600). So we must continue are fight... If you still have your home from 2009-2010 and not gotten modification approved fight hard to get it because it is part of this settlement.. I'm waiting to receive my check so I can use the pay stub as evidence to receive proper modification........These banks don't want to modify these loans because in some cases they have to reduce the principle because of lost value and equity.:toung::toung:
Wow! Good info. Thanks vhtheone. I better get a good settlement, because I have been living in 3.5 years of hell making those 13 bk payments. I have literally had to count my quarters to buy gas, so I could get to work.

By the way, could you give me the link for the above information? TIA. I wonder which category I am in.
 
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