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wastate

Calculating monetary damages of a 60 day mortgage late

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2 hours ago, centex said:

I fully expect that we will never hear a true outcome on this.....

If that happens it will be because of long term posters here who think they are smarter than everybody else.  Not me. I'm surprised the mods allow these same people to thread crap again and again...... You cleaned up your credit, I get it, big deal. That doesn't make you an expert on everything.

Edited by wastate

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It's not even Friday yet! I don't have my popcorn ready.

 

OP why the trollish attitude? If you have other serious derogs the damages from another 60 DL are negligible. If your reports are clean and your credit needs are sophisticated, damages could be well into the five figures or more. But you've already gotten great advice from knowledgeable people and rejected it.

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24 minutes ago, shifter said:

It's not even Friday yet! I don't have my popcorn ready.

 

OP why the trollish attitude? If you have other serious derogs the damages from another 60 DL are negligible. If your reports are clean and your credit needs are sophisticated, damages could be well into the five figures or more. But you've already gotten great advice from knowledgeable people and rejected it.

I asked one question. What do I get? A bunch of people who couldn't manage their finances giving me advice. My damages are irrelevant at this point. I have the money, I have the leverage. If someone has been in my situation I'd like to hear from them. I've tried to be polite. I would like this thread to continue until it has an outcome so other people can access it and use the info. I have people who filed BK casting moral judgement on me. It is ridiculous.

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So I'm trying to catch up here. Do I have this right? You knowingly cashed a check that wasn't rightfully yours and now you're blackmailing them for their own money back? And you're upset that some find that type of behavior morally deficient?

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13 minutes ago, shifter said:

So I'm trying to catch up here. Do I have this right? You knowingly cashed a check that wasn't rightfully yours and now you're blackmailing them for their own money back? And you're upset that some find that type of behavior morally deficient?

I'm not upset, I just find it a distraction to the actual issue. I am within the law. They screwed up, they pay. That is what their insurance is for.

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31 minutes ago, wastate said:

I asked one question. What do I get? A bunch of people who couldn't manage their finances giving me advice. My damages are irrelevant at this point. I have the money, I have the leverage. If someone has been in my situation I'd like to hear from them. I've tried to be polite. I would like this thread to continue until it has an outcome so other people can access it and use the info. I have people who filed BK casting moral judgement on me. It is ridiculous.

I hate to admit, but you've likely have got this forum sized up pretty well.  In hindsight, I expect you'll agree it wasn't the best audience to which to address this.

 

This is merely a hunch ... but I'd guess that you'd see a more constructive and satisfying outcome if you post this over on the myFICO groups.

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17 minutes ago, hdporter said:

I hate to admit, but you've likely have got this forum sized up pretty well.  In hindsight, I expect you'll agree it wasn't the best audience to which to address this.

 

This is merely a hunch ... but I'd guess that you'd see a more constructive and satisfying outcome if you post this over on the myFICO groups.

Yes, I agree, and thanks.

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7 hours ago, wastate said:

I'm not worried about the lates, just want to extract as much money from them as possible. Since I already cashed the check from closing I have plenty of leverage. They are trying to avoid using the insurance. I believe attorneys are a waste of money unless you want to pay a professional liar to google for you. Thanks for the input.

Wow. That was a just see bit harsh wasn't it?  Kinda like lumping car salestaff with a lawyer.

 

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13 minutes ago, MarvBear said:

Wow. That was a just see bit harsh wasn't it?  Kinda like lumping car salestaff with a lawyer.

 

You can't be serious. Both are definitely professional liars but there is nothing more crooked than a car finance guy selling extended warranties and undercoating to subprime buyers. I think car guys are rated first nationwide for the most distrusted occupation and attorneys follow at second.

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8 hours ago, wastate said:

The title company didn't pay off the mortgage when I sold the house, causing a 60 day late reported on all 3 cra's. They want to settle with me and asked what i want. I don't have to be denied credit to have damages in this situation. So far they have offered to refund all of the title fees, the late payment fees and $2K. I know my credit is worth more than $2K.

Thanks

So what is it worth to you?

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12 hours ago, wastate said:

A title company has asked me to come up with a number for damages I want for them causing a 60 day late on my and my spouses reports. Any input?


Well, Jethro, wading through all the drivel you've posted on this thread the only scientific conclusion I can come up with before even answering your re ... Oopps, can't use that word here ... question is that your extra chromosome must be exceptionally heavy.  Does it hurt much when you think?  
 

Before answering the question, I need to make a brief disclaimer.  The monetary amount I come up with is for a non-POS person, and not you.  Even if I came up with a figure of $100, that wouldn't apply to you because that would be precisely 14,444% more than what your whole miserable fooking existence on this planet is worth.

 

Were a real non-POS whose life had some value -- such as, for example, Tophy -- to ask, I'd say that calculating your real damages would have to consider whether that derogatory data is removed from your credit bureaus files and how fast it is accomplished.  If removed now, then your damages include the time and expense of dealing with this issue in addition to a monetary value for any denied credit, increased APRs incurred, AA taken by existing creditors over the derogatory data, potentially lost credit opportunities and any realistic emotional / mental damages(1) resulting.  If no AA at all, I'd say a few thousand dollars per person is fine.  I seriously doubt a judge would grant significantly more than statutory minimums for a FCRA / FDCPA violation of $1k.  
 

If derogatory data is not removed, damages could be very significant.  It's beyond stupid to think that only the effects on your credit score for a relatively short period of time are a factor.  There are creditors that will deny you credit for years.  They can put you into a higher APR bucket over something that happened many years ago.  If I had to live with those lates for 7 years, I'd hit them for a bare minimum of $100k.  
 

(1) In your case, any emotional / mental damages were obviously caused at birth and could not possibly be made worse by any other external events.  
 

Edited by PotO

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17 hours ago, wastate said:

If that happens it will be because of long term posters here who think they are smarter than everybody else.  Not me. I'm surprised the mods allow these same people to thread crap again and again...... You cleaned up your credit, I get it, big deal. That doesn't make you an expert on everything.

I cleaned up a quarter million dollars in losses directly associated with identity theft. 

 

And I have never proclaimed to be an expert on everything, but I DO have a very good working knowledge on things related TO credit.  It is NOT the area of law in which I am most involved...but my career IS one that you seem to disparage at every opportunity.  Those of us that DO have some working knowledge on areas people ask about are going to reply.  That you don't like the replies or the careers of some of us who elect to reply is just too effing bad...you can get over yourself.

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FWIW, title insurance underwriters check various information sources beyond those that they are legally required to consult (like the OFAC database) before issuing a title insurance policy.  

 

Dubious claims, suspected/proven fraud, or other losses could make it difficult or impossible to get a title insurance policy issued for a transaction to which you are a party (whether you are buyer, seller, lender, buyer's agent, seller's agent, mortgage broker, real estate appraiser, property inspector, or pretty much any party associated with the transaction). 

 

Try getting top dollar for a residential or commercial property when the buyer's lender can't get a title insurance policy.  Your market will be limited to cash buyers.

 

On the buying side, have cash on hand or have a good network of hard money lenders, because you aren't going to get a market-rate mortgage from a legitimate lender if they can't get title coverage.

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4 hours ago, hegemony said:

confirmed! 60 day lates cause brain damage!!


In his case, however, any brain damage preceded the issues he posts about.  It's congenital.  

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