Posted on: 05th Nov, 2009 02:46 pm
Hi-
My mortgage originated with Wilimton Finance and then was transferred to Citibank. It has then since been charged off for non-payment, but not foreclosed on. Can they not foreclose on the house since the deed is actually in Wilimton Finances name?
What happens if I ask the collection agency to produce the note and they can't do it? Do I still technically owe the debt?
My mortgage originated with Wilimton Finance and then was transferred to Citibank. It has then since been charged off for non-payment, but not foreclosed on. Can they not foreclose on the house since the deed is actually in Wilimton Finances name?
What happens if I ask the collection agency to produce the note and they can't do it? Do I still technically owe the debt?
Hi marchuleta,
Though the mortgage docs have the name of Wilimton Finances, it has been charged off. The collection agency has the rights to collect the dues from you. If you do not pay off the dues, then they can sue you or place a lien on your property.
You can definitely ask the collection agency to validate the debts. If they can't do so, then they cannot collect the payments and they should not contact you anymore.
Though the mortgage docs have the name of Wilimton Finances, it has been charged off. The collection agency has the rights to collect the dues from you. If you do not pay off the dues, then they can sue you or place a lien on your property.
You can definitely ask the collection agency to validate the debts. If they can't do so, then they cannot collect the payments and they should not contact you anymore.