Posted on: 19th Oct, 2010 08:22 pm
Bank was going to foreclose they decided not to and wrote off our mortgage as a loss. We pay a specific amount to a cashiering company, and our bank will send us a 1099 then what, is this still our home?
Hi jandk,
As the bank has written off the mortgage as a loss, it will not collect the dues from you. If it has sold off your account to a collection agency, then you'll have to pay the dues to them if you want to save your property.
Thanks
As the bank has written off the mortgage as a loss, it will not collect the dues from you. If it has sold off your account to a collection agency, then you'll have to pay the dues to them if you want to save your property.
Thanks
It has been a year since we have paid and have not heard anything at all from anyone. Now what
Hi jandk!
Welcome to forums!
You can contact your lender and check out the name of the collection agency to whom it has been charged off. If you wish you can negotiate with the collection agency in order to pay off the debts.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You can contact your lender and check out the name of the collection agency to whom it has been charged off. If you wish you can negotiate with the collection agency in order to pay off the debts.
Feel free to ask if you've further queries.
Sussane