Posted on: 20th Dec, 2010 08:55 pm
Hello everyone,
Two years ago, my condo went into foreclosure. I acquired this property with two loans. The foreclosure took care of the first and larger loan; however, the second and small loan appears in my credit record as a debt that I still owe, which is past due. Am I supposed to repay the second small loan after a foreclosure? What are the alternatives? Thank you!!!!
Two years ago, my condo went into foreclosure. I acquired this property with two loans. The foreclosure took care of the first and larger loan; however, the second and small loan appears in my credit record as a debt that I still owe, which is past due. Am I supposed to repay the second small loan after a foreclosure? What are the alternatives? Thank you!!!!
hi ulisessfv!
welcome to forums!
though your property is foreclosed by the lender, you owe the second loan to the lender. you should pay off the dues to the second mortgage lender in full. if you're unable to do so, you should negotiate with your second mortgage lender and try to get a payment plan to pay off the dues in an affordable manner.
feel free to ask if you've further queries.
sussane
welcome to forums!
though your property is foreclosed by the lender, you owe the second loan to the lender. you should pay off the dues to the second mortgage lender in full. if you're unable to do so, you should negotiate with your second mortgage lender and try to get a payment plan to pay off the dues in an affordable manner.
feel free to ask if you've further queries.
sussane