Posted on: 14th May, 2010 01:29 pm
I was foreclosed on in 9/07. Chase had the 1st and Wilshire had the 2nd. Wilshire sent me a 1099-C for cancellation of debt on the 2nd in 6/09. Now RTR says that Chase sold them the 2nd and I owe RTR. Could Chase sell it and WIlshire cancel it and I got the tax liablilty for the cancellation?
chase did not own your second mortgage. thus, they won't be able to sell it off to a collection agency. you can ask rtr to validate the debt. if they can't then you should ask them to stop harassing you and remove the negative item from your credit report.