Posted on: 12th Dec, 2010 03:25 pm
Property Sold to three differant lenders, ends up in securities , taxs have not been paid i three years no payments been made on the property in four years had some damage that was paid by insurance co and it seems that ots paid for yet he gets a mortgage statement every month its at $33000.00 now whats going on,?
Welcome howaboutit,
Though the property has been already sold off by the lenders, you will be liable for paying the deficient balance resulting from the property sale. You will have to pay off the balance dues to the lender either through monthly payments or through a lump sum amount.
Though the property has been already sold off by the lenders, you will be liable for paying the deficient balance resulting from the property sale. You will have to pay off the balance dues to the lender either through monthly payments or through a lump sum amount.
The property haven't been sold, the mortgages were sold to three differant banks before it settle on one , the man tried to sale it and no Attorney would touch it ,He lives in the house today,the company has it now is a collection co , he gets letters saying he needs to pay ,thats been going on for three years, he wants to pay but he is afraid that there is something wrong with the title because these big banks want talk to him .
Hi howaboutity!
Welcome to forums!
In my opinion, the owner of property should try to convince the banks so that they talk to him and clarify the matter. However, as the mortgages have been charged off, the lenders will not be ready to speak to him. In that case, he should negotiate with the collection agency and sort out the matter.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
In my opinion, the owner of property should try to convince the banks so that they talk to him and clarify the matter. However, as the mortgages have been charged off, the lenders will not be ready to speak to him. In that case, he should negotiate with the collection agency and sort out the matter.
Feel free to ask if you've further queries.
Sussane
yeah I agree - definitely needs to talk to the banks, I'm sure with persistance, someone would agree to discuss it with him.