HI Gary ... I thought they might be a bit more on the ball, as well.  But after reading their policy in their website and the way they are abusing my seller with constant calls and telling her they will NOT work with her until she is willing to give them the same percentage as the 1st lien holder.... what a joke!!

It is a shame, Mike ... we do have a HAFA approval on the 1st that is giving the 2nd, in this case 21st mortgage corp, $8,500... which is about 30% of the balance of the 2nd.  Let's see if they will take that rather than letting this go to foreclosure and receive ZERO.

Elizabeth, I do not believe that 21st Mortgage Corp is the same as 21st Century.  Unless you meant 21st Mortgage Corp.  But you are right... when does a 2nd lien holder call the shots in the case of a foreclosure... unless they want to spend $138,000 to protect their $30,000, during the redemption period.  Kind of a dumb business decision!

Hi Kristin .... we have NOT had any success with 21st Mortgage.  At this point, we do not believe that 21st Mortgage has tried to negotiate in good faith with us or the borrower.  I am not so sure the information is truthful about whether they are a servicer for the loan, or they own the loan ( when asked by the borrower, they were told by 21st that the new note owner is Knoxville Trust, and the location and phone number is the same as 21st), this makes me believe they are NOW a debt collector of this note.  There is a good chance this note has been "charged off" by the original note maker, thus it MAY NOT be a home loan NOW nor a lien on the property as a home loan.  I would have a real estate attorney work a forensic audit with them to discover what it really is.

This is probably our next step, as well.  Best wishes!!