Posted on: 28th Dec, 2009 06:44 pm
i live in california. i have two loans on my house ( 80/20). first lender is chase and 2nd lender is citi mortgage. i applied for loan modification to my first lender and second lender. i am 150 days behind the payment for both. i am in process of loan modification with the first lender. they sent me some documents to fill . after filling that documents i faxed back to them.today i got phone call from second lender if i will not pay my second mortgage then they will send to collection company. second lender also informed to credit companies, it is showing on my credit report. my question is "what will happen if second lender will sell my loan to collection company? ".
thanks and regards
roger smith
thanks and regards
roger smith
their lien will remain on your home and you'll begin getting calls from the collection agency instead of the lender. that's about all. apparently, that's their stance in this matter.
What can i do, my second lender sold my home from under me, they told me they were working on a modificaiton for me.
Hi,
"What can i do, my second lender sold my home from under me, they told me they were working on a modificaiton for me."
What do you mean by "my second lender sold my home from under me"? Has your lender foreclosed your property and sold it off at an auction to pay off the mortgage? Did you fall behind on your mortgage payments? Are they coming after you for the deficiency from the foreclosure? Can you explain your situation in a bit detail?
"What can i do, my second lender sold my home from under me, they told me they were working on a modificaiton for me."
What do you mean by "my second lender sold my home from under me"? Has your lender foreclosed your property and sold it off at an auction to pay off the mortgage? Did you fall behind on your mortgage payments? Are they coming after you for the deficiency from the foreclosure? Can you explain your situation in a bit detail?
well put, savior; there's far more here than meets the eye, it seems.
i have three loans with chase the 1st was originally from countrywide and the from wamu. I just modified my 1st loan, however before I submitted the RMA I was about to include 1st and second but chase told me that my balance was zero.I don't receive any call for payment form collection companies.What do tou think happened to my loans? I wish they are gone already. thank you