Anyone had any luck having TSAC rehabbed loans placed with a lender ?

[shadowz]

I have made 12, soon to be 13 payments in the rehab process. It sucks because the collection fees have not been reduced and my credit reports are still trashed. I hope to buy a house in the next 9 months or so, but it won't happen until the loans are placed with a lender. I'm not even sure if I am eligible for a FHA loan with the default status still attached - as if I could get one. I know it is all because of the current economy.

 

Anyone had a rehabbed loan sold to a lender by TSAC recently ?

[shadowz]

15 payments in and not a word from them. It is very irritating that the collection fees have not been reduced.

 

Anyone else had any luck ?

[Saria]

Have you tried calling them recently? I found this in the October newsletter on their website:

 

In October, TSAC will have its first Rehabilitation Loan sale since September 2008. The sale is being

coordinated through our Rehabilitation lender, Edsouth. There are 154 eligible borrowers that cur-

rently meet the rehabilitation criteria. After these loans have been sold, these students will no longer

be in default.

 

The TSAC staff is also working on a Request For Proposal (RFP) which will be going out shortly to seek a

lender to purchase our remaining Rehabilitation volume. We will keep you informed on this process.