• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

2nd Mortgage sold lien to collection company

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

brettlambourne

Junior Member
Utah

What is the best way to handle a collection company who bought the 2nd mortgage of a property going through the forclosure process? I have no money to give them...

Do they have a right to come after me, or did they lose that right when the property foreclosed? I am being "dinged" twice for the same loan on my credit every month.
 


nextwife

Senior Member
They lost the collateral - NOT the right to be repaid their loan. The debt has been sold, so the noteowner has the right to pursue repayment within the limits of state collection law.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top