Mortgage sold but received PAID IN FULL letter

This is a discussion on Mortgage sold but received PAID IN FULL letter within the Buying & Selling Property forum, part of the REAL ESTATE & PROPERTY LAW category; This may not flow well as its a long story. Briefly if I can. I was in a trail home ...

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Old Jan 21st, 2011, 09:52 PM   #1
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Default Mortgage sold but received PAID IN FULL letter

This may not flow well as its a long story. Briefly if I can. I was in a trail home modification due to my husband leaving. The mortgage was with JPMORGAN Chase. After 18months of trial payments I filed chapter7 prior to the discharge I received a letter from Chase Fulfillment center denying my modification and the reason was, and this is direct quote from the letter "We are not considering your request for modification because your loan was paid in full".
What actually happened was Chase sold the loan. I never signed any reaffirmation and now the new company LBPS (IBM lender services) Wants the difference of the trial modification payments from the original mortgage payments 12k. They also claim i am not in a trial modification and my payments are 1700 month. While in trial for 180motnhs with Chase i was paying 1,065.
My question is this. Does the paid in full letter get me off the hook for paying IBM and keep my house?. Also when I was contacted in August by IBM for payment I advised of the trial mod is ws in with Chase, they said fine and al paperwork will be sent over and they accepted the trial payments for 5 months. Now that the Chapter 7 is discharged the nice people at IBM are no longer there and the nasty people are in charge. They claim I am not in a modification, my regular monthly payment must be made and I must pay 12k with 2 1/2 weeks or the will accelerate the loan and go in foreclosure.
Please Help!!! I don’t mind if I can get my mod permanently but it looks like IBM isn’t going to play nice they are in it for the house only.
The paid in in full letter raised my eyebrow. If i can get the title with no lien it would be worth the pain and enormous suffering the banks have put me through for the last 2 years. These bankers are greedy and could care less about keeping people in their homes.

Thank you
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Old Jan 22nd, 2011, 01:36 AM   #2
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Default Re: Mortgage sold but received PAID IN FULL letter

I wish to inform you that the letter stating that you have paid in full shows that loan no longer exists. In this regard you can contest the validity of debt. In this regard LBPS will be put on the burden to show that accounts are not paid and they are valid assignee. You may be required to pay if it can be shown that amount is not paid and that letter was issued incorrectly and there was no agreement regarding settlement of loan. You may also object to foreclosure on the ground that you were not at fault and if any default has happened that is because of letter of creditor.

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Old Jan 22nd, 2011, 10:47 AM   #3
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Default Re: Mortgage sold but received PAID IN FULL letter

Thank you for your response.

My credit bureau shows Chase Mortgage with Zero (0) balance owing and no new mortgage company has appeared. If Chase is still listed as the lien holder on the deed can i bring the letter to the Recorders office and get a deed without Chase. Then possibly transfer like i sold the house to someone else. Would that stop IBM? From what i hear they are the servicer and do not own the loan but they will not disclose who actually owns the loan. I have read on the internet that IBM lend Resources is the collection agency for Freddie and Fannie.

Do you think that considering the Chase loan was in my CH7 and shows zero balance i would be able to get another mortgage and just leave this house behind?

Do you have a legal background?

Thanks Again
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