y2kmom0167
New Member
On 12/07/01, my husband and I filed Chapter 7 Bankruptcy and it was discharged on 3/20/02. When preparing our filing, our Bankruptcy lawyer reviewed our mortgage with Conseco Finance and discovered a Truth In Lending Act violation. He advised us not to reaffirm our mortgage and instead to sue Conseco for the TILA violation. The outcome we were hoping for was either a reduction in our ridiculously high interest rate or, in the best case scenario, get our mortgage agreement cancelled. We agreed and shortly thereafter filed the suit. Conseco's response was to point out that the small print on our mortgage agreement bound us to arbitration. It took until December 10, 2002 for our mediation hearing to be scheduled. Conseco did not send a representative, just a lawyer from some firm they used. We gave sworn testimony and the arbitrater did determine that there was a violation. The lawyer they sent was not authorized to make any financial settlement and so we were supposed to meet again after the holidays. Conseco filed Bankruptcy at the beginning of 2003. They were then exempt from actions until it was discharged. Once their Bankruptcy was settled, our lawyer contacted the arbitrator, who refused to meet with us because Conseco never paid him his fee.
Meanwhile, Conseco sold their Finance division back to GreenTree, who have never contacted us in any way to let us know they have assumed our mortgage. Aren't they required to do that? We do not receive payment requests or communication of any kind. Our lawyer calls their law office and gets a paralegal, who tells him she's not exactly sure who's servicing our mortgage now, nor does she know if they will be settling our lawsuit. He checked with the Register of Deeds office and our Deed still shows Conseco Finance as the lienholder-don't they have to change that too?
We would like to refinance the house to pay off Conseco/GreenTree. We have been pre-approved but can't do anything until we get a payoff letter. Since we haven't settled the lawsuit, we don't even know how much we owe them. What should we do? We don't want to call GreenTree directly as that might jeopardize the lawsuit. They seem to have forgotten us and if our mortgage or lawsuit was somehow cancelled by Conseco's Bankruptcy, we'd like to know. What we're thinking is that our Bankruptcy and their Bankruptcy cancel each other out. If the mortgage is now an unsecured debt, we could file a Chapter 13. Any advice would be greatly appreciated.
Meanwhile, Conseco sold their Finance division back to GreenTree, who have never contacted us in any way to let us know they have assumed our mortgage. Aren't they required to do that? We do not receive payment requests or communication of any kind. Our lawyer calls their law office and gets a paralegal, who tells him she's not exactly sure who's servicing our mortgage now, nor does she know if they will be settling our lawsuit. He checked with the Register of Deeds office and our Deed still shows Conseco Finance as the lienholder-don't they have to change that too?
We would like to refinance the house to pay off Conseco/GreenTree. We have been pre-approved but can't do anything until we get a payoff letter. Since we haven't settled the lawsuit, we don't even know how much we owe them. What should we do? We don't want to call GreenTree directly as that might jeopardize the lawsuit. They seem to have forgotten us and if our mortgage or lawsuit was somehow cancelled by Conseco's Bankruptcy, we'd like to know. What we're thinking is that our Bankruptcy and their Bankruptcy cancel each other out. If the mortgage is now an unsecured debt, we could file a Chapter 13. Any advice would be greatly appreciated.
