Dyck O Neal

Okay Burried-in-debt, I'm little confused here :?

How much do you owe to the lender in total? Has the insurance company agreed to pay only a portion of the outstanding amount on the mortgage?

This happened October last year. We owed 275k to the lender, the house was sold thru short sale at 220k, the shortfall was 55k. The lender (American Home) endorsed all the negotiations to the PMI company (Radian) who will not approve the short sale unless we sign a promissory note. At that time, the lawyer we hired advised us to accept the deal for 0% int for 30 yrs, saying that if we go into foreclosure, FLorida is a deficiency state and that we could also get a judgement. Since we made good income then and we wanted to save our credit, we signed the note (looking back now, that was a stupid decision).

Fast forward, we were paying $111/month but my husband was laid off and our credit is no longer the priority. But we are stucked with the 40k note. Radian sold the note to Dyck o neal without even notifying us few months ago. Spoke to Representative from Dyck O neal and was firm about 20k settlement. SO we wrote her and said we cant do it financially but we are willing to pay $10/month. So far, we havent heard from them. Seems like they are not interested to settle. Anyone has info about Dyck o Neal?

Watch your back. They are sharks. Trust me

Watch out for that Dyck. Not easy to work with said my friend.

filing Chapter 13 ...what happens to the 20K we owe Dyck-O?
Can that be included in filing?

I just got a letter from Dyck on August 10th. My house was foreclosed on and was 1099-C. However Countrywide sold the $50,000 HELOC to Dyck. I guess I will have the same experience as you but I can't afford to even pay 50%. Maybe I can just ask them to prove they own the debt?

What state are u from?

Who is your contact person at Dyck? If its Amanda, she is tough to deal with and is not interested to settle. We are paying $10/month out of our 40k coz we cant afford 50% settlement. We are settling with credit card debts now (we were able to borrow money from family) and then once we settled, we are going to stop paying Dyck and re-negotiate. Please keep in touch coz i also feel hopeless with Dyck O Neall.

The 1099C should be a good defense in court that the debt is uncollectable and Dyke got had by Countrywide. Send them a Cease & Desist letter.

I live in Florida and the 1099-C I recieved was for the first mortgage. The HELOC countrywide didn't 1099-C. I didn't pay taxes on the 1099-C, I was exempt from it. My first mortgage and HELOC were both from countrywide. My contact person is Kirk Chapline from Dyck O'neal Inc., but I do all communication by certified mail, I don't have conversations on the phone. I am just at the first stage and thinking that I probably should just file bankruptcy. I don't want to because this $50,000 is my only debt but I doubt they will settle for $10,000 which is all I can afford.

From my searches they do sue and win cases, even cases defended by a lawyer. I've read appeals where they still won even though they didn't have the orginial loan documents. Those two cases were in Texas so maybe they have a different standard than Florida. I just think it is better to file bankruptcy then to fight it and still lose.

I've always paid my bills and this house has really destroyed me financially. Countrywide appraised my house to be worth at $215,000 in may 2006 so that my debt ration to income would allow me to qualify for the HELOC. However the house was sold by Countrywide for $79,000 two years later.

Ah, yeah I missed that promissory note part, which does add quite a wrinkle. I think that was a bit of a dirty trick on their part.

$79K?! :shock: Ouch! That person got a bargain!

Quote:

we are paying $10 a month and will continue to do so until they are ready to settle with us for at least 10k. I spent 30 minutes with them the last time but it went nowhere and they are not willing to settle, the most they can do is 50%. I will wait for them to come around.

Im sorry for your situation. I feel for you. Please keep in touch. Our promissory note was from PMI company and not HELOC. We were able to settle our HELOC of 70K for 6k with Bank of America.

The cease and desist order in GA for dyck o'neal - does it only cover opening new loans post order (mid 2009 i think)? I'm a GA resident about to start dealing with them on a debt that I was told was incorporated into my refi. The c + d on the ga gov site is a little vague. How can I use this?

As I post, I am getting ready to sign a $25,000 promissory note with Radian, which will be serviced by Dyck Lynch. The deficiency on my Illinois condo is $100K+. I figured, I'd rather deal with a judgment from a $25k promissory note than a $100k+ deficiency judgment and have a foreclosure on my record. I'm unemployed and have asked if they would take a net present value amount to pay off the loan; NO. They gave me a 25% discount if the loan was paid before the 20 year date. So, I asked, "does this mean so long as I pay the note off say in year 19 month 11 I get the discount; Yes. What sense does that make for them not to accept the settlement amount. Thank you all and God bless.

***Correction***
The promissory note will be service by Dyck O'Neal.

Hi , I live in GA, and Dyck O'Neil recently purchased my 2nd mortgage from Flagstar bank in September 2009. My house is not foreclosed yet, but eventually will be this year. Dyck O'Neil sent a collection letter to me, and I reponded back with a Validation request in October 2009. They currently have not validated my loan/collection and it has been 90 days. When I call them, they say my loan collection is "On Hold".
What does this Cease & Desist order mean for me?

I am paying $200 a month for 10 years no interest. BofA settled for 24K sold it to Dyck for? They are willing to settle for 15k. Makes me wonder. Its an aweful situation. $200 a month is alot of money, let alone 15,000 for 10 years which could be put away into a college fund for my son.to What happens if you stop paying it? anyone know? this is new to me.

I have been trying to negotiate with these idiots at Dyck O'Neal and they are unwilling to accept offers unless you give them tax returns from the last two years. I have nothing to hide, but feel like they are just looking for something they can come after. So, I've told them they can stop asking, that I'm not sending them any returns. Take the money I offered or sue me and see what they get. We'll see what the low life's want to do.

I have been dealing with them also and they wont budge. I owe them 5,000 and they tried to get it in 3 years, i told them i would pay 50 a month,they are s.o.b. To deal with although my person was nice, i tried to get them to lower it but they would not, they are already getting money of the short sale.

I made an offer to Dyck Oneal on my debt and they haven't even bother to respond. It has been three months since my offer. I wonder how SOL (Statue of Limitation) works. Does the clock start when I made my last payment on the original debt? or does it start when Dyck O'neal buys the debt and ask for the full amount? Does the clock reset if I communicate or admit the debt is mine? The last payment on my debt was 4/2007 which is now three years. I believe the SOL in my state for this debt is 5 years.

Quote:

Dyck O,Neil is not a third party collector so the FDCPA does not apply to them! They are a holder of promissory notes from short sales! When I sold my house 10 years ago I was forced to sign a note with them! I am still paying it off! I have not made a payment in a year since I lost my job and they have been OK to work with! I had to fill out a financial statement and I am still waiting for them to respond! They have been pretty reasonable in the past when I fell behind also! Like all creditors they have a right to report to the credit agencies but I would not fault them for that. They have a right to recover what is owed to them and report it if they don't. I do not usually stick up for collectors but a note with 0 interest? How do they make money?

They make their money when they buy it. The buy loans at a very low discount, between 10-35% of their value. They realize they won't collect on all of them, but as long as they collect on most, they make a good return on their investment.

Where do you get your information? Dyck O'Neal was the original lender in my case! They are not a junk debt buyer as far as I know! I will do a little research and come back with what I found!

My apologies! Dyck O'Neal was aquired by Michael Cramer after I got my note through them and is now a junk debt buyer and a third party collector subject to the rules of the FDCPA! Use that law to defend yourself against any harrassment! Read this article that I wrote! It will help! www.tinyurl.com/debtcall

Quote:

I have an 11K note that Citi group sold to Dyck and they do not send me a bill, or anything and now I may have to file bankruptcy even though Citi gave me a modified loan. I have a second with Bank of America and don;'t remember signing a promissory note with Dyck but no calls, just a statement saying I still owe $11K. If I file, will this disappear?

[COLOR=black]Kudos to the people who have accepted that they owe their debt and just deal with it. For the rest of you... Why get mad when debt collectors try to collect the debt that you owe? You got yourself in that mess so why shouldn't you be responsible for it? Yes, there are circumstances where everything falls apart and you can't help your situation. That still doesn't mean you shouldn't have to pay what you owe. This is the problem with America...no one wants to take responsibility for their own actions. Who cares if these people are difficult to deal with when they have to listen to people complaining about having to pay for a house that they shouldn't have bought in the first place! Put on your big boy/girl undies and DEAL WITH IT![/COLOR]

Absolutely America. Pay your debts!!

We took advantage of one of their homesaver programs that Country Wide says they never received. We have repeatedly asked for proof of payment and they refuse to send us anything but a bill. Now they are calling my husbands ex-wife looking for us......

Put on your big boy/girl pants? I guess it’s only American for the little guy to pay their debts and be debt slaves. But when these Banks/Corporations have unplayable debts, we little guys and future generations bail them out with trillion dollar bailouts.
“Too big to fail” scream the politicans who were elected with money given to them by the Banks.
What a moron!

If I put on my big boy/girl pants then I have to get out the pitchfork and the torch and round up like minded people to go looking for some junk debt buyers. I'm just sayin'...

Hmmm... not sure if this thread is still active...

I am looking for advice about how to defend or negotiate vs. a mortgage deficiency judgment. I'd be interested in hearing from any people in the same the boat to share knowledge and strategy. I am also looking for a lawyer with real experience in this area, so referrals are welcome.

A brief background: I invested in a Florida property that was foreclosed upon by my lender after I had a loss of income. After my failed attempts at mortgage modification and short sale, the property was foreclosed and sold at auction. A deficiency motion was *not* filed by the lender, but rather it appears that the lender has sold the debt to Dyck I believe who is now trying to collect.

Does any who has been through this know how flexible these companies are with discounting the amount owed? Can my bank/lender's past unreasonable/bad actions during the foreclosure process be used to defend against the debt now that it is owned by a collector?

Thank you,
JJ

I also had a home foreclosed in Florida. I had a first and HELOC with Countrywide. They 1099 the first mortgage so I don't have to worry about paying that back. However they sold the HELOC to Dyck O'neal. Dyck O'neal won't settle with me, they want all financial information.

I was wondering the same thing about defending a deficiency claim. If I was going to make a defense I was thinking about the fact that Countrywide made fraudulent loans to people they knew couldn't afford them. In their SEC filings they went against their own standards to issue loans. They gave me a $210,000 loan even though I had an income of only $38,000. My debt to income level was way high.

I'm not sure if a fraudulent defense would work in a deficiency but that would be my route. Also I doubt Dyck O'neal has the entire loan documents. I will claim I never was given a truth and lending statement when the loan was originated.

>> They 1099 the first mortgage so I don't have to worry about paying that back.

Hi, this is jj_beeper. One word of caution, if you received a 1099-A, they still can/will come after you (that's what happened with me). If you got a 1099-C, you should be o.k. I think.

I'd be happy to stay in touch to try to give each other pointers. I am still trying to find a proper lawyer, but I think your idea to use their deceptive/fraudulent loan practices could be the best route.

Good luck, JJ

I was give a cancellation of debt which means they claim it on their taxes. They can't sue for the money and claim a tax loss. So I don't have to worry about it; I was advised by a lawyer on that. My credit report shows no balance owed on the first mortgage but the HELOC shows outstanding with dyck oneal.

The strategy I'm using is stalling Dyck O'neal until the SOL runs out. So far I have less than two years to go.

We're under for $35K to Dyke-O'Neal for a short sale from BOA. Anyway we can get out of it? Help please!!!!

:neutral: Hi I know what you mean, I have been paying back on the sale of my home.I have to pay back $18,000 over a 10 year time frame. I have tried to get out from it, but I need to see if there any plans or laws to do so. They are tough to deal with.

I owe 31K on a 2nd loan, they say with interest and lawyers fees, I actually owe 37K. They are willing to bring it down to 29K with no interest. Almost $400 per month. The property was in Dallas. Can I file Ch 13 Bk to get rid of it? What are my options?

I have been getting calls about a debt that is not mine. I have told them many times it is not mine but they keep calling. Someone has the same name as me but I can not convince them of this.
I do not need this agrivation. I am 75 years old and do not owe anyone a dime.

I guess I will do as one person on here has done and send a registered letter and threaten them with a law suit if they do not cease calling me.

Exactly. You need to send them a cease & desist letter, CMRR.

I am dealing with Dyck O'Neal from a short sale in 2010.? The lawyer"s office said that
I would be able to proceed with the short sale unless I signed the promissory note for $50,000. I received a 1099-c form for $180,000 the house that had short saled for $210,000. the house was purchased for $371,400. the figures didn"t add up so I ctarted making phone calls to Countrywide, now Bank of America, Radian, and the lawyer that handled the short sale, asking why I had to pay the extra $50,000. The mortgage company said they had no record on their computer of Radian. Dyck O'Neal said that I should tell the bank they made a mistake with the 1099-C and have it corrected that it should be less the $50,000 that is owed to them. I think they are ready to take me to court. I said I will fill out a financial statement. They sent me a copy of the promissory note and the current amount I owe. I feel that they should contact the bank and hash it out. I even told countrywide the person who was mentioned on the promissory note form BAC. What do you recommend?

I forgot to mention that I live in NY and so is the short saled house. I am #42

I received a call from them yesterday (5/24/2011) in an attempt to collect a debt for HomeSaver Advance that I thought was wrapped into the Loan Modification that signed with Bank of America 12/2009. Apparently Countrywide farmed out a loan unsecured, according to O'Neal 7/2008. I thought everything was all wrapped into the modification but not this unsecured loan that O'Neal owns. I contacted BOA thinking this was some sort of scam. Someone with BOA that was there when it was still Countrywide stated that this is legitimate. Wow...what a mess. Just when I thought that I was finally on track. The amount which O'Neal states was a little over 5,000 is now a bit over 7,000. I reside in Maryland. I wish I did live in Georgia. Perhaps I would have some recourse.

I am in a situation as well with Dyck Oneal. I am behind my payments and they offered to settle for 50%. (which would roughly be around 7k) I dont have 7k laying around and I know the banks will not give me a loan to pay this off because of my credit being destroyed by the short sale. I noticed someone earlier stated something about the 1099 a/c and how they can come after you. I never received a 1099 a or c and it has been around 1 1/2 years thats past so far. When I talked to Dyck O'neal, they said nothing was reported to the credit bureau and wasnt too sure why. I looked at my credit report recently, nothing on my credit report shows anything from dyck o'neal, not even a balance or anything. (again my short sale was around 1 1/2 years ago) Do I have any options at all?? When this short sale took place I was all new to this and my Realtor knew nothing about this as she was new as well. I didn't even know I could get an attorney. (dumb on my part I guess) Please help as any insight is greatly appreciated.

Just an FYI, the statute of limitations limits the length of time that the debt can be taken to court.
Even after the SOL expires, the debt will stay on your credit report.

If Dyck-O'Neal is not on your credit report, then what is your concern? Send them a certified letter not to call you anymore. And wash your hands of it.
What short sale did you mean was wrecking your credit? What is on your credit report, if not dcik o'neal?

Have you sent dickoneal a copy of the 1099c? Sned them a copy in certified mail and ask them to show the figures of the debt that was forgiven by the 1099c and to ask if the $50k note was taken into consideration.

Well things have changed for the worse now. I looked at another credit report from equifax and that is where they reported it. So it wasnt under all credit reports. I am 120 days past due and in a hole I feel like. I guess the most I can do is either 1.) try to back pay what I owe.... ugh 2.) keep making my normal monthly payments. The one report just showed my mortgage going into short sale and thats it. Of course my credit is trashed now because of the short sale and my late payments on dyck Oneal.

These people at Dyke are complete idiots,They have the power to screw with your credit as well, I have never missed an automatic debit payment and they constantly claim even after I have supplied proof and they say they want more proof. Just bend over and take it. losing propisition:rolleyes::rolleyes: