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Question
I am working with my mortgage company on Deed in Lieu.  They have informed me there is a lien on my property that I did not know about.  Unable to afford an attorney I tried  to research it my self.  I have found that the company that placed the lien  filed bankruptcy and has gone out of business.  I think that maybe they had sold my account after the judgment and before they went out of business. I think I have been paying on this account since 2008.  How can I find out anything about this original loan etc.  The company I have been paying will only say they don't have a lien on my property.

Answer
Hi Diane,

The loan was probably sold before it went out of business. You will need to track it down who owns it to get it released. Sometimes google is your best tool.

why don't you try a short sale and have the bank pay a few thousand to the lien to get them to go away. then you won't have to make anymore payments to them. If you are making payments to the collection company then they need to prove to you that they purchased the debt and once they do that you will be able to talk to someone in charge and get them to release the lien. You can usually only get that done if there is money to pay them off.

In my opinion the short sale is the best bet for you so that lien is taken care of without you having to come up with more money. You may also get cash at closing depending on who your loan is with and if they are participating in the HAFA program or one of their proprietary programs. If you need to get set up with a realtor in Michigan to do the short sale, email me directly at brian@pitchergroup.net, with your address and phone number and I'll get you set up with a specialist. By the way, the short sale is free to you. The bank pays the commissions.

I hope that this helps.

Thanks
Brian Pitcher

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Brian Pitcher

Expertise

I can answer all questions related to Residential Real Estate. In particular I am an expert in the loss mitigation side. I meet with multiple homeowner on a weekly basis and guide them through the issues of being upside down on their mortgage and what they can do to better it. I can answer questions on Loan Modifications, Short Sale, Foreclosure, Strategic Default, Deed in Lieu. I can also answer questions on the buyer/investor side of things in regards to homeownership or home flipping. I can also answer questions regarding the 1099C or cancellation of debt that homeowners get from a short sale or a foreclosure.

Experience

I run a team of agents called the Pitcher Group, out of Salt Lake City. We specialize in Short Sales and helping sellers get out of tough situations. We have closed over 100 short sales in the past 3 years with our team. I also am an owner of a Short Sale Negotiation company that helps process short sale transactions for Real Estate Agents all across the country. I understand the investment side of Real Estate as I have bought and sold many rental type homes over the years. I also rehabilitate homes and flip them. We usually have 1 to 3 properties going at any given time. Our completion time from bought to sold is usually less then 4 months.

Organizations
I am a member of the national Association of Realtors on the national level and the Salt Lake board of Realtors on the local level. I am a member of the Short Sale Specialist Network as well as multiple short sale mastermind groups locally and nationwide.

Publications
The Short Sale Specialist Network www.savemyutahhome.com The Truth about Short Sales, Loan Modifications and Foreclosures (an ebook that I wrote)

Education/Credentials
Bachelors Degree from the University of Utah in Spanish with an emphasis in Economics. Specialized and on going study of loss mitigation tactics revolved around the banking industry and real estate including FDIC.

Awards and Honors
Bronze Home sales award in 2008 for Keller Williams Gold Home sales award in 2009 For Keller Williams Triple Gold Home sales award in 2010 For Keller Williams Triple Gold home sales award in 2011 For Keller Williams Top Sales agent individual award in 2010 For Keller Williams I have been asked to speak and teach other realtors how to handle short sales for Keller Williams International and also at my local board of Realtors.

Past/Present Clients
I have over 100 successfully closed short sale transactions.

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