Jump to content

mortgage debt sold


Recommended Posts

I am in the middle of a foreclosure process and keep getting blindsided. After falling behind in payments because of divorce my mortgage company agreed to a loan modification. i completed the trial payments and was told later the modification was denied because documents were not returned "on-time". My lender began the foreclosure process with a sale date. I begin to email and call and ask for explanations only to be notified that my loan was sold to another company, with the foreclosure sale date still in effect.

What can i do 

Link to comment
Share on other sites

Not much. I got jerked around the same way back in 2010. They sold the house at auction after they told us our mortgage was under review.  When you're in default, they aren't required to work with you at all. 

I can also tell you from first hand experience, if you have mortgage insurance, they have no incentive to work with you because they can only collect on the mortgage insurance policy if the property is foreclosed. 

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.