SunTrust had the 1st mortgage on a 30k property, w only 4k left. After 2 cashiers checks bought from Suncoast Cr.U (holder of 4 k HELOC) bounced, S.Trust sent a letter forgiving the loan and deciding no foreclose. We were told that banks will say they are not foreclosing, but really are, so the borrower doesn't have time to hire an attorney. The letter mentioned that it is the homeowner's responsibility to maintain the property? Why would they care at this point? Can we trust the letter? If we had them notorize a letter and/or took in a couple people to witness their signing the letter, would that keep the house safe? Can they come back later and foreclose? A bank is only going to make a decision that is in their financial favor. What could that possibly be?
That is a very good question in this day and age when the banks have lost the faith of the consumer. The only way to know with 100% certainty if the debt was written off is if you receive a satisfaction of mortgage from your lender and it gets recorded in the public records. If they are giving her the runaround and consult with an attorney that will force them to prepare that and record it. Once that is recorded you're off the hook
It is impossible to answer your question on a web site, and irresponsible to try. You need case-specific advise. That means you should take the letter you reference, and all other history you have with Suntrust, to an experienced attorney to review it, review the record if there is one, and to give you advise based on the particulars of your situation. It is highly unlikely that anyone at Suntrust would agree to notarize a letter for you or to sign it in the presence of witnesses, and even if they did, unless that person had authority to bind Suntrust (and few people at banks actually do), it would not be a solution.
Mortgage servicers such as Suntrust are extremely disorganized, and make many mistakes. Don't be a victim of the chaos - please see an attorney who really understands this area of law before making any decisions.
Please see an attorney.
Please note that the above is not intended as legal advice, it is for educational purposes only. No attorney-client relationship is created or is intended to be created hereby. You should contact a local attorney to discuss and to obtain legal advice.
The responses from Ms. Golant and Ms. Salcines are spot on!
You need your own lawyer to review the documents you have, and then extract a recordable satisfaction of the mortgage--and record it.
Run, do not walk, to your nearest competent lawyer!!
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