I am nearing retirement age, so would like to restructure my current residential loan at a lower rate to lower my house payment. I have a Beneficial Finance lien against the title of my home residence in Colorado that is unserviceable, and has been for close to 10 years, which is preventing me from pursuing a refinance. I believe Beneficial was declared insolvent fall of 2010 and my Beneficial loan was never transferred to a new loan servicer – no new liens were ever filed against my title, nor was the lien on my title removed by Beneficial. I have no one to pay, nor have I had since 2010. Also, in August 2010, I filed for chapter 7 bankruptcy. My debt was discharged in January, 2011. Because my house to loan value was under water at the time, I was allowed to remain in my residence if I could bring my payments current and continue paying on my loans, or short sell, and be liable only for the amount recovered by the sale. At that time, I had a 2nd and 3rd mortgage, but the 1st mortgage balance was greater than the current appraised value of my house. Upon the discharge of my debt, the 2nd mortgage was forgiven by the lender, and the 3rd mortgage lender, Beneficial, which I believe became insolvent while my bankruptcy was pending, was never heard from again.
I have received no communications, coupon payment books, monthly statements, or demand for payment regarding this loan since 2010. I am seeking a lawyer / paralegal with experience with Quiet Title actions in Colorado, who can file the necessary documents with the court to clear my title. I believe in Colorado, if a lender does not demand payment or file any actions to collect the debt within a 6-1/2 year period, that the lender loses the right to collect. I hope this applies to my case, and the this Quiet Title filing will essentially be a matter of filing the correct documents with the Court.
I have talked to several lawyers, but none so far have experience with Quiet Title actions. If you have this experience, are available, and legally licensed to practice in Colorado, I am interested in talking to you. If not, can you recommend someone who can help? Thank you.
Gary G. Phillips