New Beginnings Financial and Real Estate

This letter is to clarify the unfounded claims made to the Revdex.com by [redacted] in regards to a loan she obtained from New Beginnings Financial. [redacted] did not "reluctantly" sell her property on 12/21/16. It was because of her non-payment which resulted in a Trustees...

Sale on 12/16/16 that she did so. New Beginnings Financial was requested and did delay the Trustees Sale by one week to 12/22/16, in order for her to have the opportunity to receive proceeds from the sale of the property. Ms. [redacted] requested and received a loan from New Beginnings Financial on 10/17/13 to pay off another loan given to Ms. [redacted] from [redacted] that was in foreclosure. She only paid New Beginnings Financial 4 payments in the first 9 months. Because of this New Beginnings Financial. had to start foreclosure in August 2014. The property was scheduled for sale on. 1/5/15 when she filed for Chapter 13 Bankruptcy on 1/3/15, just 3 days prior to the sale. While in Bankruptcy she again failed to make timely payments. She only paid 8 payments in the 18 months of her bankruptcy. Therefore, the Bankruptcy was dismissed on 7/11/16. Once again, the foreclosure process was reinstated and the property was set for another Trustee Sale on 8/18/16. Ms. [redacted] once again filed a second Chapter 13 Bankruptcy on 8/1.5/16. She failed to make one single payment to the Bankruptcy Trustee, Her now 2' Bankruptcy was dismissed on 12/1/16. Again, the foreclosure process was reinstated and the Trustee Sale was set for 12/22/16. Due to her non-payment for over 3 years, the only alternative for her was either to sell the property or lose it to foreclosure. She chose to sell it on 12/21/16. After selling the property and closing escrow, Ms. [redacted] called our office to inquire about the Foreclosure Fees, Attorney Fees, and Advance Fees. She felt that she should only have to pay for her Bankruptcy Attorney. Ms. [redacted] was informed per the Deed of Trust she signed on page 7 under, "Protection of Lenders  Interest in the Property and Rights under this Security Instrument" it clearly states the forlowing, "Lender actions can include, but not limited to: appearing in court, paying reasonable attorney fees to protect its interest in the property including its secured position in bankruptcy proceedings". "Any amounts dispersed by Lender under this Section 9 shall, become additional debt of Borrower secured by this Security Instrument." Ms. [redacted] had New Beginnings Financial in bankruptcy litigation for approximately 2 years. The Attorney hired to represent New Beginnings during this time charged $300 per hour. Needless to say, there was a substantial amount owed to the attorney as well as to the foreclosure company, and advances made for her fire insurance etc., for 3 years. Clearly, New Beginnings Financial acted under its legal rights to hold Ms, [redacted] responsible for, fees incurred in this matter. Therefore, no refund. will be granted. We thank you for your time and consideration in this matter.