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07-07-2009, 04:11 PM
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Can a lender collect on an unpaid mortgage since
2004? The state now owns the property. I checked? I received a letter about a week ago from a finance company representing my old mortgage.Trying to collect on the home. I let the property go in 2004. But because the mortgage company was unable to sale the home they have held it as an outstanding debt of 75K since 2004 on my credit report. The property since that time went back to the state for non payment of taxes(2006). It has passed the redemption period. Do I have any rights since I don't even own the property. Besides I have no job and I'm not receiving Unemployment. I simply can't pay.
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07-07-2009, 05:56 PM
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Bankruptcy wipes the slate completely clean and you will start getting credit card offers the next day practically so you have to have the discipline to throw them away before they get in the house. It is designed to give you a fresh start!Good luck. You may see letters for a while, the bank did suffer a loss.
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