Posted on: 27th Feb, 2010 11:56 pm
Hello,
I recently tried to get pre-approved for a home loan, well 4 years ago my property was foreclosed and my 2nd loan is showing up as recourseon my credit. the lender recently sent me a settlement letter for a very high amount tha i am not able to afford. so i came to a settlement for a lower amount but i still cannot afford it. what can/will they do if i do not pay them? i have not signed any forms to agree to the settlement amount.
I recently tried to get pre-approved for a home loan, well 4 years ago my property was foreclosed and my 2nd loan is showing up as recourseon my credit. the lender recently sent me a settlement letter for a very high amount tha i am not able to afford. so i came to a settlement for a lower amount but i still cannot afford it. what can/will they do if i do not pay them? i have not signed any forms to agree to the settlement amount.
Yes, you do have to pay them or they will relentlessly come at you for up to 20 yrs. During this time, you'll pay thru the nose on everything you try to get in life...on the few things you will be able to buy with the highest interest rate.
How about being a good American...AND PAY YOUR DEBT! What if the lender owed you that money, would you just let it go? NO! You'd scream and cry until they paid you, so pay them what you owe them and stop crying about it.
How about being a good American...AND PAY YOUR DEBT! What if the lender owed you that money, would you just let it go? NO! You'd scream and cry until they paid you, so pay them what you owe them and stop crying about it.