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Collecting on Debt after Sheriff Sale
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Jul 16, 2008 Litton Loan Servicing complaint |
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Unfortunately I got caught up in the subprime debacle and my home was sold through the Cuyahoga County Sheriff on January 14, 2008, the buyer was Wells Fargo for $170,000.00 my liability to Deutsche Bank was $179,941 plus an amount past due of $46,169.
After the sale my house it did not transfer until July 1, 2008 from Wells Fargo to Deutsche Bank the original supposed mortgagee of record, however Litton who is only a servicer for Deutsche Bank filed a collection against me in May, 2008. for all supposed amounts due and payable.
Under this scenario I will never be able to buy a new house in the future, because the $226,110 will be on my credit record for the next 7 + years, together with a 2nd mortgage from HFC in the amount of $46,922, or a total liability of $273,032.
Typically when a foreclosure occurs, the slate of all debt and taxes is wiped clean, but even worse, let's say that Deutsche Bank turns around and sells the house for $300,000 or more, I;d still have an outstanding debt of $273,032. The house was never worth $573,032. Therefore Litton is attempting to make a profit in all this subprime mess. It should be noted that Litton did agree to a loan modification, but the foreclosure was filed by Duetsche Bank within 20 days of the workout, thus voiding the agreement between me and Litton.
I view this as a new kind of capital fraud against me and all other like me and will notify authorities to see what they think.
Sincerely,
W.M. Williams
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Litton Loan Servicing Complaints
1. Written by kaitee71, on 18-07-2008 00:27
I am sorry you are going though that, I would check about filing for banrupsey (sorry spelling) maybe then it can be wiped clean? My house is going on 7/22 I may find myself in you situation...agian sorry for all you are going though BTW I am with ASC.... check out the compaints against them LOL
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