Posted on: 30th Aug, 2008 01:06 pm
about 3 years ago i got devorce and lose my home to foreclosure i am filing bankrupcy soon. with the foreclosure there was a sherif sale on the home. that is all the info i have about the home nothing has showed up on my credit report about the second mortgage but my bankrupcy lawyer says that i am still responsible for the loan. i only owe about 15000.00 in cc debt and would pay it off but the second mortgage is 179000.00 how can i know if i still owe the loan even though it is not on my credit report, or i have not gotten any letters form the morgage company.
Hi confuse,
Welcome to forums.
Didn't the second lender ask for payments after the sheriff's sale? or is it that both the lenders were able to recover the money they invested on your home? perhaps the second lender didn't report anything to the credit bureaus. You should enquire about the status of the second loan. Otherwise who knows the second lender may have sold off the any unpaid debt to a collection agency as because it's no longer a secured loan.
"can i know if i still owe the loan even though it is not on my credit report"
The second mtg may not be reported on the credit report but this doesn't mean you don't owe the debt if the sale proceeds haven't been enough to cover both loans. There may be lack of communication between your second lender and the credit bureau.
Thanks
Welcome to forums.
Didn't the second lender ask for payments after the sheriff's sale? or is it that both the lenders were able to recover the money they invested on your home? perhaps the second lender didn't report anything to the credit bureaus. You should enquire about the status of the second loan. Otherwise who knows the second lender may have sold off the any unpaid debt to a collection agency as because it's no longer a secured loan.
"can i know if i still owe the loan even though it is not on my credit report"
The second mtg may not be reported on the credit report but this doesn't mean you don't owe the debt if the sale proceeds haven't been enough to cover both loans. There may be lack of communication between your second lender and the credit bureau.
Thanks