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

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

CreditBoards > Financing > Student Loans

shadowz

Aug 16 2009, 08:41 AM

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

Oct 27 2009, 09:02 AM

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

Oct 27 2009, 09:06 AM

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

QUOTE

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.

This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.