Posted on: 30th Mar, 2010 02:21 pm
I had two loans on my primary residence with countrywide. BofA took over, kept the 1st and sold the second to a collection agency Real Time Solutions. The property is set to foreclose in a week.
My name is on a deed not the loan of anothe property. Is this property at risk?
My name is on a deed not the loan of anothe property. Is this property at risk?
Hi dortega,
If the sale of the property does not satisfy your mortgage dues, then the lender can place a lien on your property in order to recover his dues. As far as the collection agency is concerned, they too have the rights to collect their dues from you. If you're unable to pay the dues, then the collection agency will sue you.
If the sale of the property does not satisfy your mortgage dues, then the lender can place a lien on your property in order to recover his dues. As far as the collection agency is concerned, they too have the rights to collect their dues from you. If you're unable to pay the dues, then the collection agency will sue you.