Question on 2nd position npn in CA -- can I contact borrower?

[Bob Malecki]

Hi All,

I just purchased a nonperforming note in 2nd position on a nice home in Los Angeles. The first is performing and listed with Chase. There is equity in the property even with both the first and my second. The borrower filed BK 7 in 2009 and all debts were discharged.

My loan servicer says that since the borrower has a discharged BK7, they are not allowed to contact the borrower per the new Dodd-Frank CFPB laws. Is this true? It seems that my only option is to have an attorney send a letter of intent to foreclose. Does anyone have any advice on other tactics to get the borrowers attention to negotiate a payoff?

Thanks

Bob