JR321

Three questions: 1) Since you said CapOne, I'm going to assume this is a CC. If I'm wrong, please correct me. If it was a CC, was it a personal or business card? CC used mostly personal 2) Did you agree to personally guarantee the debt. I signed the preprinted guarantee acceptance card as manager. 3) How was the business structured (Corp, LLC, or Sole P) Sole P but it was a family business and I was not the owner and now it is closed. This was one of Cap 1 unsolicited preprinted company name ads. NCO has apparently bought the account, messed up the name and has sent CA letter. Yes I signed it but the company was under another family members ownership and has since closed up. If I DV NCO they will have more information on the account than I believe they have now. But I don't want to miss my 30 day window if you think it would be to my advantage to do so.

I received a NCO CA letter for a closed business of mine. Only the misspelled business name appears on the letter for a $1000 Cap 1 debt. The business has long been closed but I have another business under a different name at the same location. Should I DV NCO under my name and give them more information as to who might own the debt?

That's the usual story. People who DO qualify and DO turn in the proper paperwork just get 'lost' in the system. They turn the documents in over and over again only to have them misplaced, lost or claimed that which is sitting right there in a folder was never received. Then the foreclosure clock runs out. Game over. Sorry for your troubles JR. I hate to keep suggesting BK, but would a chapter 7 or 13 provide you with enough safe haven to get things worked out? Either will stop a foreclosure in it's tracks. Well the evil bank wins another. My home of over 25 years was "reverted back to lender" today. Game Over Sad thing is I won't even be counted as a statistic for a HAMP approval or denial. The "bank ate my documents" isn't a statistical category. I wish, with all the smart minds that came up with this program, someone couldn't see there were no penalties, sanctions, fines or costs for the bank to just plane lie about someones application. There was no way around the "incomplete application excuse" it therefore didn't have to be submitted for approval or denial, and therefore didn't have to be graded! No extra credit for me submitting, re-submitting, re-re-submitting, re-re-re-submitting documents you get the idea. I wish everyone a Happy New Year but for me I will be homeless. So sad..... BK was not an option. sorry too.

I guess I would be in group 2. Although I've done all the was asked of me and turned in all requested documents, my HAMP has never been acted on and my Sale date has been postponed from 9-10, 11-5, 12-17, to 1-7. I did call and complain a week before each Sale date to get it postponed. Now I'm in Washington State and the non-Judicial Trustee has used up the 120 days discretionary continuances on extending the Sale date and the Servicer Wells Fargo has run out the clock on a Freddie Mac loan. I have tried all avenues from the US Treasury HAMP compliance to Freddie Mac borrower outreach trying to get the Sale date Canceled instead of Postponed while in modification. I do believe this is a slick way of foreclosing without admitting a HAMP modification denial. You just string along the homeowner until the clock runs out and then they claim their hands are tied do to the State foreclosure laws. Neat....

This will keep home inventory down, allow families to stay in there homes, and stabilize home prices from falling even more, good for all except the banks!

Yep - That happened to me. I was home and 2 guys with a work order tried to break in my house and change the locks. I call the cops and they came and wouldn't arrest them for trespassing because they had a work order and "the bank owns the house" WTF. I was in foreclosure but no sale date and still living there lights and TV on. Next time they might see lead.

It is very doubtful that they could or would sell the house 90 days after NOD. If you haven't got a NOD yet I would wait and save your money. I didn't start my modifications until 45 days before sale date, but had to go up to Wells Executive office to get my Sale Date postponed. They told me some tails about not being able to postpone a sale until a "complete" application was submitted, and they were finding more docs they needed to "complete" the application. Don't fall for that and demand foreclosure be postponed while under modification. All the best

I've have heard that there is only 120 days to extend a Sale date after it has been made. Some have filed BK just before the foreclosure sale in hopes the BK takes longer than 120 days so the foreclosure time line starts over. Also Freddie Mac states that foreclosure will be suspended while determining a loan modification. I am hoping for that.

I'm in WA state and I thought there was a 1 year maximum time limit for completing a foreclosure sale between NOD and Foreclosure Sale. I received a NOD in February 2009 and now I have received a Foreclosure Sale Date for Sept. 2010. I know there has to be 90 days between Notice of Sale and Sale Date. But is there a WA law stating that Foreclosures must be competed within one year after started?

I would add Copy to: Consumer Response Center Federal Trade Commission 600 Pennsylvania Ave, NW Washington, D.C. 20580 and send them one but don't expect an answer from them.

Yep - NCO run scared of the FTC. I just got back an account closed letter after I DV'ed them and cc to the FTC.

You might be right. Here is the full WSJ article Lender Processing Services Unit Draws Inquiry Over the Steps That Led to Faulty Bank Paperwork Sounds like a real fraud

LPS (Lender Processing Services Inc) is the company that left the sticker glued to my sliding glass door. Nice... U.S. probing LPS unit Docx LLC: report Sat Apr 3, 11:49 am ET CHICAGO (Reuters) – A unit of Lender Processing Services Inc (LPS.N), a U.S. provider of paperwork used by banks in the foreclosure process, is being investigated by federal prosecutors, the Wall Street Journal reported on Saturday. Citing people familiar with the matter, the newspaper said a government probe into the business practices of the LPS unit was "criminal in nature." According to the report, the probe was disclosed in LPS's annual report in February. The subsidiary being investigated is Docx LLC, which processes and sometimes produces documents used by banks to prove they own mortgages, the report said. According to the report, among Docx documents being reviewed was one that incorrectly claimed an entity called "Bogus Assignee" was the owner of the loan. The report cited LPS spokeswoman Michelle Kersch as saying that the "bogus" phrase was used as a placeholder and that some documents had been "inadvertently recorded before the field was updated." (Writing by James B. Kelleher)

Wells Fargo God bless them, no one else will.

I am currently in default but no sale date yet. I got home from work last week to find a sticker glued to my sliding glass door from a field service company. It said they had inspected the property and found it "Vacant or Abandoned" which gives the Mortgage holder the right and duty to protect the property. WTF!! I currently live in my home, I have lived in my home for over 25 years. I just mowed the lawn, the porch light is on 24/7 and through the sliding glass door anyone but a blind person could see the house was occupied and "lived in" coats, shoes, furniture, appliances etc. I called the company the next day to tell them someone was living their. They didn't seem to care. I filed a complaint with Washington State's AG the day after for fraud and collusion with the Mortgage Company. Fast forward to this week. I was home at 8:30pm when a loud knock on the door. When I went to the door I found 2 late 20's guys with torn teeshirts and torn jeans and work order from the Mortgage Company to change the house locks. WHAT!! I said I still live here and there has been no sale date or foreclosure date or eviction date for that matter. When I asked them what would have happened if I wasn't home. They said they would have broke in and changed the locks. I asked them what would have happened to my 3 Cats! No answer. Is this a new tactic to move against the homeowner in default but without a sale date? Is this legal? I called the cops and tried to charge them with trespassing but the cops wouldn't do that because of the Mortgage Company work order which said they owned the house, Really? I have been working on modification but this has put me in a bad position trying to prove I still live in my home.