Posted on: 23rd Nov, 2010 11:06 am
Our house was foreclosed on back in June 2003..we took out a 2nd mortgage for home improvements (all new windows in 2001)..when the house was lost we didnt look back. I received a phone call today form Wells Fargo bank saying they took over the collection of the 2nd mortgage. This is the first I have heard from anyone on the 2nd mortgage... 7 1/2 yrs after the fact. Can they still collect on this??? I told them I'm unale to pay anything..my husband is disabled(on disability), I'm struggling to pay bills now and living from check to check trying to pay medical and prescription bills now. They were wanting a min of $200 a month.. I told the lady I can not pay anything... any ideals??
Hi greenidevil,
The lender has sold off your account to the collection agency and they can collect the dues from you. You should negotiate with the collection agency so that they forgive your dues or give you an affordable payment plan to pay off the balance amount.
Thanks
The lender has sold off your account to the collection agency and they can collect the dues from you. You should negotiate with the collection agency so that they forgive your dues or give you an affordable payment plan to pay off the balance amount.
Thanks